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Registered Number: 11787281
England and Wales

 

 

 

JPHA LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director J Pham
Registered Number 11787281
Registered Office 9 Corbets Tey Road
Upminster
Essex
RM14 2AP
Accountants Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 January 2024
Principal activities
The companys principal activity during the year was the Wholesale of wine, beer, spirits and other alcoholic beverages & Retail sale of beverages in specialised stores.
Director
The director who served the company throughout the year was as follows:
J Pham
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
J Pham
Director

Date approved: 30 October 2024
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 January 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
31 January 2024



....................................................
Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
30 October 2024
3
 
 
Notes
 
2024
£
  2023
£
Turnover 2,356,250    2,219,146 
Cost of sales (2,024,081)   (2,084,219)
Gross profit 332,169    134,927 
Selling and distribution costs (10,087)   (37,614)
Administrative expenses (302,781)   (68,938)
Operating profit 19,301    28,375 
Interest payable and similar charges (373)   (280)
Profit/(Loss) on ordinary activities before taxation 18,928    28,095 
Tax on profit on ordinary activities (3,532)   (5,591)
Profit/(Loss) for the financial year 15,396    22,504 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 6,478    4,926 
6,478    4,926 
Current assets      
Stocks 4 203,273    225,015 
Debtors 5 380,794    385,253 
Cash at bank and in hand 108,042   
692,109    610,268 
Creditors: amount falling due within one year 6 (438,648)   (365,651)
Net current assets 253,461    244,617 
 
Total assets less current liabilities 259,939    249,543 
Creditors: amount falling due after more than one year 7 (39,106)   (44,106)
Net assets 220,833    205,437 
 

Capital and reserves
     
Called up share capital 8 101    101 
Profit and loss account 220,732    205,336 
Shareholders' funds 220,833    205,437 
 


For the 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.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 30 October 2024 and were signed by:


-------------------------------
J Pham
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 February 2022 101  182,832  182,933 
Profit for the year 22,504  22,504 
Total comprehensive income for the year 22,504  22,504 
Total investments by and distributions to owners
At 31 January 2023 101  205,336  205,437 
At 01 February 2023 101  205,336  205,437 
Profit for the year 15,396  15,396 
Total comprehensive income for the year 15,396  15,396 
Total investments by and distributions to owners
At 31 January 2024 101  220,732  220,833 
6
General Information
JPha Ltd is a private company, limited by shares, registered in England and Wales, registration number 11787281, registration address 9 Corbets Tey Road, Upminster, Essex, RM14 2AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 33.33% Straight Line
Computer Equipment 33.33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 February 2023 3,268    7,763    11,031 
Additions 5,077    1,612    6,689 
Disposals    
At 31 January 2024 8,345    9,375    17,720 
Depreciation
At 01 February 2023 1,558    4,547    6,105 
Charge for year 2,622    2,515    5,137 
On disposals    
At 31 January 2024 4,180    7,062    11,242 
Net book values
Closing balance as at 31 January 2024 4,165    2,313    6,478 
Opening balance as at 01 February 2023 1,710    3,216    4,926 


4.

Stocks

2024
£
  2023
£
Stocks 203,273    225,015 
203,273    225,015 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 289,191    282,604 
Other Debtors 236    1,636 
VAT 91,367    101,013 
380,794    385,253 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 232,382    149,298 
Paypal (735)   5,109 
Shopify 16,383    1,754 
Bank account   22,086 
Corporation Tax 3,532    5,591 
PAYE & Social Security 3,103    439 
Accrued Expenses 2,520    2,520 
Pension 1,118    224 
Amex credit card 28,856    90,170 
Directors' Current Accounts 151,489    88,460 
438,648    365,651 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 39,106    44,106 
39,106    44,106 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
101 Class A shares of £1.00 each 101    101 
101    101 

7