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REGISTERED NUMBER: 05073830 (England and Wales)















Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

J P MOTORS LIMITED

J P MOTORS LIMITED (Registered number: 05073830)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 5


J P MOTORS LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: I A JASSAT





SECRETARY: MERLIN BUSINESS SERVICES UK LTD





REGISTERED OFFICE: STAFFORDSHIRE KNOT
PINFOLD STREET
WEDNESBURY
WS10 8TE





REGISTERED NUMBER: 05073830 (England and Wales)





ACCOUNTANTS: MERLIN ACCOUNTANCY & PAYROLE SERVICES LTD
STAFFORDSHIRE KNOT
PINFOLD STREET
WEDNESBURY
WS10 8TE

J P MOTORS LIMITED (Registered number: 05073830)

Report of the Director
for the Year Ended 31 March 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

DIRECTOR
I A JASSAT held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





I A JASSAT - Director


1 April 2024

J P MOTORS LIMITED (Registered number: 05073830)

Statement of Income and Retained Earnings
for the Year Ended 31 March 2024

31/3/24 31/3/23
Notes £    £   

TURNOVER 239,905 221,690

Cost of sales 159,081 145,683
GROSS PROFIT 80,824 76,007

Administrative expenses 67,152 61,016
OPERATING PROFIT 13,672 14,991


Interest payable and similar expenses - 4
PROFIT BEFORE TAXATION 13,672 14,987

Tax on profit 2,550 2,109
PROFIT FOR THE FINANCIAL YEAR 11,122 12,878

Retained earnings at beginning of year 45,210 34,332

Dividends 4 - (2,000 )

RETAINED EARNINGS AT END OF YEAR 56,332 45,210

J P MOTORS LIMITED (Registered number: 05073830)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 5,253 5,253

CURRENT ASSETS
Debtors 6 2,381 2,764
Cash at bank and in hand 84,798 91,088
87,179 93,852
CREDITORS
Amounts falling due within one year 7 35,700 53,495
NET CURRENT ASSETS 51,479 40,357
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,732

45,610

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 56,332 45,210
SHAREHOLDERS' FUNDS 56,732 45,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 1 April 2024 and were signed by:





I A JASSAT - Director


J P MOTORS LIMITED (Registered number: 05073830)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

J P MOTORS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

4. DIVIDENDS
31/3/24 31/3/23
£    £   
Ordinary shares of 1.00 each
Final - 2,000

J P MOTORS LIMITED (Registered number: 05073830)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 24,411 13,373 37,784
DEPRECIATION
At 1 April 2023
and 31 March 2024 19,378 13,153 32,531
NET BOOK VALUE
At 31 March 2024 5,033 220 5,253
At 31 March 2023 5,033 220 5,253

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 2,381 2,764

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade creditors 8,016 5,803
Tax 4,659 2,109
VAT 4,570 2,565
Directors' current accounts 18,154 40,917
Accrued expenses 301 2,101
35,700 53,495