Registered number
01142601
J E B PRECISION LTD
Filleted Accounts
31 December 2023
J E B PRECISION LTD
Registered number: 01142601
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,118,849 1,140,439
Current assets
Stocks 333,349 323,453
Debtors 4 273,336 313,364
Cash at bank and in hand 1,331,011 1,311,047
1,937,696 1,947,864
Creditors: amounts falling due within one year 5 (280,362) (413,196)
Net current assets 1,657,334 1,534,668
Total assets less current liabilities 2,776,183 2,675,107
Creditors: amounts falling due after more than one year 6 - (49,543)
Provisions for liabilities (163,934) (134,271)
Net assets 2,612,249 2,491,293
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,612,149 2,491,193
Shareholders' funds 2,612,249 2,491,293
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J E Bebbington
Director
Approved by the board on 14 June 2024
J E B PRECISION LTD
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 6 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 28 27
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 535,259 2,260,553 15,600 2,811,412
Additions - 99,682 - 99,682
Disposals - (29,500) - (29,500)
At 31 December 2023 535,259 2,330,735 15,600 2,881,594
Depreciation
At 1 January 2023 109,200 1,552,333 9,440 1,670,973
Charge for the year 9,100 110,632 1,540 121,272
On disposals - (29,500) - (29,500)
At 31 December 2023 118,300 1,633,465 10,980 1,762,745
Net book value
At 31 December 2023 416,959 697,270 4,620 1,118,849
At 31 December 2022 426,059 708,220 6,160 1,140,439
4 Debtors 2023 2022
£ £
Trade debtors 273,336 313,364
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,270 25,201
Obligations under finance lease and hire purchase contracts 47,590 55,533
Trade creditors 80,606 135,540
Taxation and social security costs 149,896 196,922
280,362 413,196
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 3,266
Obligations under finance lease and hire purchase contracts - 46,277
- 49,543
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 2,270 23,467
Bank loans are secured by a fixed charge over the freehold property.
8 Other information
J E B PRECISION LTD is a private company limited by shares and incorporated in England. Its registered office is:
Works Lane
Manchester Road
Northwich
Cheshire
CW9 7NW
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