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Registered number: 06887875
JBF Electrical Solutions Limited
Unaudited Financial Statements
For The Year Ended 5 April 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 06887875
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 851 1,135
851 1,135
CURRENT ASSETS
Cash at bank and in hand 745 1,351
745 1,351
Creditors: Amounts Falling Due Within One Year 4 (11,734 ) (9,935 )
NET CURRENT ASSETS (LIABILITIES) (10,989 ) (8,584 )
TOTAL ASSETS LESS CURRENT LIABILITIES (10,138 ) (7,449 )
Creditors: Amounts Falling Due After More Than One Year 5 (4,544 ) (7,323 )
NET LIABILITIES (14,682 ) (14,772 )
CAPITAL AND RESERVES
Called up share capital 6 100 110
Income Statement (14,782 ) (14,882 )
SHAREHOLDERS' FUNDS (14,682) (14,772)
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For the year ending 5 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
The financial statements were approved by the board of directors on 12 November 2024 and were signed on its behalf by:
Mr J Atkinson
Director
12 November 2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
3. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 6 April 2023 8,500
As at 5 April 2024 8,500
Depreciation
As at 6 April 2023 7,365
Provided during the period 284
As at 5 April 2024 7,649
Net Book Value
As at 5 April 2024 851
As at 6 April 2023 1,135
4. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 2,779 2,709
Other creditors 8,705 7,205
Taxation and social security 250 21
11,734 9,935
5. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,544 7,323
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6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 110
7. Ultimate Controlling Party
The company's ultimate controlling party is J Atkinson by virtue of his ownership of 100% of the issued share capital in the company.
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