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REGISTERED NUMBER: 11423005 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

JB SALVAGE LIMITED

JB SALVAGE LIMITED (REGISTERED NUMBER: 11423005)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JB SALVAGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mrs M Prior
Mrs L Parker





REGISTERED OFFICE: 4 Spur Road
Cosham
PORTSMOUTH
Hampshire
PO6 3EB





REGISTERED NUMBER: 11423005 (England and Wales)





ACCOUNTANTS: AMR Bookkeeping & Accounts Limited
4 Spur Road
Cosham
PORTSMOUTH
Hampshire
PO6 3EB

JB SALVAGE LIMITED (REGISTERED NUMBER: 11423005)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,665 23,566

CURRENT ASSETS
Stocks 5 70 73
Cash at bank 94,346 96,417
94,416 96,490
CREDITORS
Amounts falling due within one year 6 117,589 116,179
NET CURRENT LIABILITIES (23,173 ) (19,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,492

3,877

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 8,490 3,875
SHAREHOLDERS' FUNDS 8,492 3,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

JB SALVAGE LIMITED (REGISTERED NUMBER: 11423005)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:




Mrs M Prior - Director



Mrs L Parker - Director


JB SALVAGE LIMITED (REGISTERED NUMBER: 11423005)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

JB Salvage 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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3. EMPLOYEES AND DIRECTORS

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

JB SALVAGE LIMITED (REGISTERED NUMBER: 11423005)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Tooling
Plant and and Motor
machinery development vehicles Totals
£    £    £    £   
COST
At 1 July 2023 38,400 850 14,300 53,550
Additions - - 20,701 20,701
At 30 June 2024 38,400 850 35,001 74,251
DEPRECIATION
At 1 July 2023 19,805 565 9,614 29,984
Charge for year 3,719 57 4,140 7,916
Eliminated on disposal - - 4,686 4,686
At 30 June 2024 23,524 622 18,440 42,586
NET BOOK VALUE
At 30 June 2024 14,876 228 16,561 31,665
At 30 June 2023 18,595 285 4,686 23,566

5. STOCKS
30.6.24 30.6.23
£    £   
Stocks 70 73

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors 1,195 1,458
Directors' current accounts 116,394 114,721
117,589 116,179