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REGISTERED NUMBER: 10513696 (England and Wales)















JTT ELECTRICAL LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JTT ELECTRICAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: D C Edge





REGISTERED OFFICE: 26 Bank Street
Heath Hayes
Cannock
Staffordshire
WS12 2ET





REGISTERED NUMBER: 10513696 (England and Wales)

JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 34,217 70,385

CURRENT ASSETS
Debtors 5 184,131 141,474
Cash at bank 75,763 116,682
259,894 258,156
CREDITORS
Amounts falling due within one year 6 (154,382 ) (71,702 )
NET CURRENT ASSETS 105,512 186,454
TOTAL ASSETS LESS CURRENT LIABILITIES 139,729 256,839

CREDITORS
Amounts falling due after more than one
year

7

(25,954

)

(57,625

)

PROVISIONS FOR LIABILITIES (8,554 ) (16,189 )
NET ASSETS 105,221 183,025

CAPITAL AND RESERVES
Called up share capital 8 51 100
Retained earnings 105,170 182,925
SHAREHOLDERS' FUNDS 105,221 183,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2024 and were signed by:





D C Edge - Director


JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

JTT Electrical 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 120,402
Additions 2,330
Disposals (50,458 )
At 31 December 2023 72,274
DEPRECIATION
At 1 January 2023 50,017
Charge for year 10,875
Eliminated on disposal (22,835 )
At 31 December 2023 38,057
NET BOOK VALUE
At 31 December 2023 34,217
At 31 December 2022 70,385

JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2023 56,610
Disposals (28,468 )
At 31 December 2023 28,142
DEPRECIATION
At 1 January 2023 14,153
Charge for year 5,277
Eliminated on disposal (7,117 )
At 31 December 2023 12,313
NET BOOK VALUE
At 31 December 2023 15,829
At 31 December 2022 42,457

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 159,112 130,504
Other debtors 11,760 4,440
Prepayments and accrued income 13,259 6,530
184,131 141,474

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,099 9,849
Hire purchase contracts 5,970 12,009
Trade creditors 21,095 9,030
Tax 33,477 20,411
Social security and other taxes 2,620 2,454
VAT 19,496 10,435
Other creditors 10,955 3,408
Directors' current accounts 1,054 1,964
Accruals and deferred income 49,616 2,142
154,382 71,702

JTT ELECTRICAL LIMITED (REGISTERED NUMBER: 10513696)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,354 10,099
Bank loans - 2-5 years 6,147 16,504
Hire purchase contracts 9,453 31,022
25,954 57,625

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 Ordinary £1 51 100

9. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £117,225 (2022 - £54,725).