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REGISTERED NUMBER: 11722211 (England and Wales)









Financial Statements

for the Year Ended 31 May 2024

for

J2P Autos Ltd

J2P Autos Ltd (Registered number: 11722211)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


J2P Autos Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J Goldie
P Hilburn
J Hilburn





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 11722211 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

J2P Autos Ltd (Registered number: 11722211)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 5 - 6,898
Tangible assets 6 - 2,473
- 9,371

CURRENT ASSETS
Debtors 7 2,374,851 1,883,299
Cash at bank 67,179 82,137
2,442,030 1,965,436
CREDITORS
Amounts falling due within one year 8 (2,372,244 ) (1,995,892 )
NET CURRENT ASSETS/(LIABILITIES) 69,786 (30,456 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,786

(21,085

)

CREDITORS
Amounts falling due after more than one
year

9

(9,999

)

(20,000

)
NET ASSETS/(LIABILITIES) 59,787 (41,085 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 59,487 (41,385 )
SHAREHOLDERS' FUNDS 59,787 (41,085 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by:



J Hilburn - Director


J2P Autos Ltd (Registered number: 11722211)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

J2P Autos Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income is recognised when the service is provided.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 11 ) .

J2P Autos Ltd (Registered number: 11722211)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 34,482
AMORTISATION
At 1 June 2023 27,584
Charge for year 6,898
At 31 May 2024 34,482
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 6,898

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 12,365
DEPRECIATION
At 1 June 2023 9,892
Charge for year 2,473
At 31 May 2024 12,365
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 2,473

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,517,889 1,446,955
Other debtors 856,962 436,344
2,374,851 1,883,299

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Taxation and social security 105,543 19,630
Other creditors 2,256,701 1,966,262
2,372,244 1,995,892

J2P Autos Ltd (Registered number: 11722211)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,999 20,000

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 28,200 14,080
Between one and five years 47,747 -
75,947 14,080

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other creditors at the year end is capital introduced aggregating £244,000 (2023: £51,928) due to the director P Hilburn which has been provided unsecured and is repayable on demand.

Accrued interest of 10% on capital introduced has been charged by P Hilburn during the year amounting to £3,935 (2023: £9,079).

Interest of £995 (2023: £nil) was charged by the company at the rate of 2.25% whilst the account was overdrawn.

The following advances have taken place during the year and are deemed material;

July 2023£48,786
February 2024£21,000

There have been no other advances which individually were considered material and no other individual advances exceeding £10,000 to the director.

12. RELATED PARTY DISCLOSURES

Included within other debtors at the year end is an amount of £737,751 (2023: £389,233) due from Silverline Autos Limited, a company in which the directors have an interest.

Included within other debtors at the year end is an amount of £82,809 (2023: £20,588) due from Hilbro Capital Ltd, a company in which the directors have an interest.

Included within other creditors at the year end is capital introduced aggregating £96,400 (2023: £96,400) due to the director J Goldie which has been provided unsecured and is repayable on demand.

Accrued interest of 10% on capital introduced has been charged by J Goldie during the year amounting to £9,640 (2023: £9,640).