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Registered Number: 06944650
England and Wales

 

 

 

JFS BUSINESS SERVICES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 274,024    252,301 
Tangible fixed assets 4 108,724    110,864 
382,748    363,165 
Current assets      
Stocks 5 116,453    147,400 
Debtors 6 478,980    405,812 
Cash at bank and in hand (48,866)   8,769 
546,567    561,981 
Creditors: amount falling due within one year 7 (439,474)   (397,182)
Net current assets 107,093    164,799 
 
Total assets less current liabilities 489,841    527,964 
Creditors: amount falling due after more than one year 8 (118,187)   (116,524)
Provisions for liabilities 9 (828)   (542)
Net assets 370,826    410,898 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 10 16,200    16,200 
Profit and loss account 354,526    394,598 
Shareholders' funds 370,826    410,898 
 


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:


-------------------------------
Jane Elizabeth Freeman
Director
1
General Information
JFS Business Services Limited is a private company, limited by shares, registered in England and Wales, registration number 06944650, registration address 58 Durham Road, Birtley, County Durham, DH3 2QJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the going concern and the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 25 years.
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:
Motor Vehicles 20% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
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.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 17 (2023 : 17).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 February 2023 357,393    357,393 
Additions 37,520    37,520 
Disposals  
At 31 January 2024 394,913    394,913 
Amortisation
At 01 February 2023 105,092    105,092 
Charge for year 15,797    15,797 
On disposals  
At 31 January 2024 120,889    120,889 
Net book values
At 31 January 2024 274,024    274,024 
At 31 January 2023 252,301    252,301 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Total
  £   £   £
At 01 February 2023 56,423    140,537    196,960 
Additions 15,482    3,723    19,205 
Disposals    
At 31 January 2024 71,905    144,260    216,165 
Depreciation
At 01 February 2023 9,404    76,692    86,096 
Charge for year 11,210    10,135    21,345 
On disposals    
At 31 January 2024 20,614    86,827    107,441 
Net book values
Closing balance as at 31 January 2024 51,291    57,433    108,724 
Opening balance as at 01 February 2023 47,019    63,845    110,864 


5.

Stocks

2024
£
  2023
£
Work in Progress 116,453    147,400 
116,453    147,400 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 202,375    241,581 
Other Debtors 276,605    164,231 
478,980    405,812 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 9,716    8,240 
Corporation Tax 33,371    35,735 
PAYE & Social Security 7,794    7,044 
Accrued Expenses 5,520    32,520 
Other Creditors 300,721    213,340 
Obligations under HP/Financial Leases 9,027    46,481 
Directors' Current Accounts 32,624    3,447 
VAT 40,701    50,375 
439,474    397,182 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 72,988    116,524 
Obligations Under HP/Financial Leases 45,199   
118,187    116,524 

9.

Provisions for liabilities

2024
£
  2023
£
Pension Provisions 828    542 
828    542 

10.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 16,200    16,200 
16,200    16,200 

11.

Director's Advances, credits and guarantees

Included in creditors: amounts due within one year, are amounts owed to the Director of £32,624 (2023 £3,447)
12.

Discolsure of controlling party

For the whole of the period under review the company was under the control of Jane Elizabeth Freeman and Derrick Hutchinson.
2