Company registration number 04368902 (England and Wales)
JLT COMMUNICATIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
JLT COMMUNICATIONS LTD
COMPANY INFORMATION
Director
Mr JL Thompson
Secretary
Mrs E L Thompson
Company number
04368902
Registered office
Silverthorne
Milborne Wick
Sherborne
Dorset
England
DT9 4PW
Accountants
Hunts Accountants Ltd
The Old Pump House
Oborne Road
Sherborne
Dorset
England
DT9 3RX
JLT COMMUNICATIONS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JLT COMMUNICATIONS LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
868,422
870,501
Current assets
Stocks
48,470
67,015
Debtors
5
21,126
23,044
Cash at bank and in hand
58,722
-
0
128,318
90,059
Creditors: amounts falling due within one year
6
(239,287)
(171,361)
Net current liabilities
(110,969)
(81,302)
Total assets less current liabilities
757,453
789,199
Creditors: amounts falling due after more than one year
7
(289,033)
(313,067)
Provisions for liabilities
(94,884)
(83,205)
Net assets
373,536
392,927
Capital and reserves
Called up share capital
100
2
Revaluation reserve
8
328,920
340,393
Profit and loss reserves
44,516
52,532
Total equity
373,536
392,927

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JLT COMMUNICATIONS LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 17 October 2024
Mr JL Thompson
Director
Company registration number 04368902 (England and Wales)
JLT COMMUNICATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information

JLT Communications Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Silverthorne, Milborne Wick, Sherborne, Dorset, England, DT9 4PW.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil
Plant and equipment
25% WDV
Fixtures and fittings
5% WDV
Computers
25% WDV
Motor vehicles
25% WDV
JLT COMMUNICATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

JLT COMMUNICATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
11
3
Intangible fixed assets
SPS Entitlements
£
Cost
At 1 February 2023 and 31 January 2024
2,925
Amortisation and impairment
At 1 February 2023 and 31 January 2024
2,925
Carrying amount
At 31 January 2024
-
0
At 31 January 2023
-
0
JLT COMMUNICATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
852,008
125,674
977,682
Additions
-
0
3,338
3,338
Disposals
-
0
(2,786)
(2,786)
At 31 January 2024
852,008
126,226
978,234
Depreciation and impairment
At 1 February 2023
-
0
107,181
107,181
Depreciation charged in the year
-
0
4,536
4,536
Eliminated in respect of disposals
-
0
(1,905)
(1,905)
At 31 January 2024
-
0
109,812
109,812
Carrying amount
At 31 January 2024
852,008
16,414
868,422
At 31 January 2023
852,008
18,493
870,501
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,404
19,324
Other debtors
6,722
3,720
21,126
23,044
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
49,427
129,442
Trade creditors
13,119
26,861
Taxation and social security
18,685
1,903
Other creditors
158,056
13,155
239,287
171,361
JLT COMMUNICATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 7 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
289,033
313,067
8
Revaluation reserve
2024
2023
£
£
At the beginning of the year
340,393
340,393
Deferred tax on revaluation of tangible assets
(11,473)
-
At the end of the year
328,920
340,393
2024-01-312023-02-01false17 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr JL ThompsonMrs E L Thompsonfalsefalse043689022023-02-012024-01-3104368902bus:Director12023-02-012024-01-3104368902bus:CompanySecretary12023-02-012024-01-3104368902bus:RegisteredOffice2023-02-012024-01-31043689022024-01-31043689022023-01-3104368902core:LandBuildings2024-01-3104368902core:OtherPropertyPlantEquipment2024-01-3104368902core:LandBuildings2023-01-3104368902core:OtherPropertyPlantEquipment2023-01-3104368902core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3104368902core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3104368902core:Non-currentFinancialInstrumentscore:AfterOneYear2024-01-3104368902core:Non-currentFinancialInstrumentscore:AfterOneYear2023-01-3104368902core:CurrentFinancialInstruments2024-01-3104368902core:CurrentFinancialInstruments2023-01-3104368902core:ShareCapital2024-01-3104368902core:ShareCapital2023-01-3104368902core:RevaluationReserve2024-01-3104368902core:RevaluationReserve2023-01-3104368902core:RetainedEarningsAccumulatedLosses2024-01-3104368902core:RetainedEarningsAccumulatedLosses2023-01-3104368902core:RevaluationReserve2023-01-3104368902core:RevaluationReserve2022-01-3104368902core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31043689022022-02-012023-01-3104368902core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-01-3104368902core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-01-3104368902core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-01-3104368902core:LandBuildings2023-01-3104368902core:OtherPropertyPlantEquipment2023-01-31043689022023-01-3104368902core:LandBuildings2023-02-012024-01-3104368902core:OtherPropertyPlantEquipment2023-02-012024-01-3104368902core:WithinOneYear2024-01-3104368902core:WithinOneYear2023-01-3104368902core:Non-currentFinancialInstruments2024-01-3104368902core:Non-currentFinancialInstruments2023-01-3104368902bus:PrivateLimitedCompanyLtd2023-02-012024-01-3104368902bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3104368902bus:FRS1022023-02-012024-01-3104368902bus:AuditExemptWithAccountantsReport2023-02-012024-01-3104368902bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP