Registered number
03314590
JK Tipper Services Ltd
Filleted Accounts
31 March 2024
JK Tipper Services Ltd
Registered number: 03314590
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 472,120 323,122
Current assets
Debtors 4 928,528 885,665
Cash at bank and in hand 50,537 61,425
979,065 947,090
Creditors: amounts falling due within one year 5 (149,978) (100,038)
Net current assets 829,087 847,052
Total assets less current liabilities 1,301,207 1,170,174
Creditors: amounts falling due after more than one year 6 (182,849) (84,471)
Net assets 1,118,358 1,085,703
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,118,356 1,085,701
Shareholders' funds 1,118,358 1,085,703
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.
KS Gill
Director
Approved by the board on 31 October 2024
JK Tipper Services Ltd
Notes to the Accounts
for the year ended 31 March 2024
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 819,054
Additions 323,308
Disposals (172,489)
At 31 March 2024 969,873
Depreciation
At 1 April 2023 495,932
Charge for the year 102,860
On disposals (101,039)
At 31 March 2024 497,753
Net book value
At 31 March 2024 472,120
At 31 March 2023 323,122
4 Debtors 2024 2023
£ £
Trade debtors 82,574 79,770
Deferred tax asset 1,114 17,752
Other debtors 844,840 788,143
928,528 885,665
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 126,156 76,992
Trade creditors 1,254 875
Taxation and social security costs 22,568 22,171
149,978 100,038
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 182,849 84,471
7 Other information
JK Tipper Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
192 Ferrymead Avenue
Greenford
Middlesex
UB6 9TW
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