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Registration number: 5519195

JSH Laser Limited
Annual Report and
Unaudited Financial Statements

31 December 2023

 

JSH Laser Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

JSH Laser Limited

Balance Sheet
31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,750

28,475

Current assets

 

Stocks

5

8,500

12,500

Debtors

6

203,938

170,512

Cash at bank and in hand

 

95,166

144,787

 

307,604

327,799

Creditors: Amounts falling due within one year

7

(27,910)

(16,115)

Net current assets

 

279,694

311,684

Net assets

 

293,444

340,159

Capital and reserves

 

Called up share capital

100

100

Retained earnings

293,344

340,059

Shareholders' funds

 

293,444

340,159

 

JSH Laser Limited

Balance Sheet
31 December 2023

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mr J S Forshaw
Director

Company Registration Number: 5519195

 

JSH Laser Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
258 Bolton Road West
Ramsbottom
Bury
Lancashire
BL0 9PX

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

JSH Laser Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives. These are reviewed yearly, so each asset is valued at its estimated residual value. The standard rates are as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Straight line

Motor Vehicles

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

JSH Laser Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 4 (2022 - 4).

 

JSH Laser Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

36,889

295,086

331,975

At 31 December 2023

36,889

295,086

331,975

Depreciation

At 1 January 2023

31,066

272,434

303,500

Charge for the year

3,678

11,047

14,725

At 31 December 2023

34,744

283,481

318,225

Carrying amount

At 31 December 2023

2,145

11,605

13,750

At 31 December 2022

5,823

22,652

28,475

5

Stocks

2023
£

2022
£

Raw materials and consumables

8,500

12,500

6

Debtors

Current

2023
£

2022
£

Trade debtors

21,356

63,030

Prepayments

3,057

2,877

Other debtors

179,525

104,605

 

203,938

170,512

 

JSH Laser Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

7,798

7,206

Taxation and social security

10,688

-

Accruals and deferred income

3,150

2,909

Other creditors

6,274

6,000

27,910

16,115

8

Related party transactions

Director's remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.

Summary of transactions with other related parties

Fabricad Design Ltd
 

Income and receivables from related parties

2023

Other related parties
£

Receipt of services

39,725

2022

Other related parties
£

Receipt of services

10,000

 

JSH Laser Limited

Notes to the Unaudited Financial Statements
Year Ended 31 December 2023

Expenditure with and payables to related parties

2023

Other related parties
£

Purchase of goods

98,516

2022

Other related parties
£

Purchase of goods

168,385

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

97,950

97,950

Advanced

81,575

81,575

At end of period

179,525

179,525

2022

Other related parties
£

Total
£

At start of period

74,006

74,006

Advanced

23,944

23,944

At end of period

97,950

97,950