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COMPANY REGISTRATION NUMBER: 08481743
JHK Oilfield Products Ltd
Filleted Unaudited Financial Statements
30 April 2024
JHK Oilfield Products Ltd
Financial Statements
Year ended 30 April 2024
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
JHK Oilfield Products Ltd
Officers and Professional Advisers
The board of directors
D Donaghy
R M Donaghy
J M Donaghy
H L Donaghy
K A Donaghy
Registered office
Springwood
Spring Lane
Heslington
York
YO10 5DZ
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
JHK Oilfield Products Ltd
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of JHK Oilfield Products Ltd
Year ended 30 April 2024
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 April 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
JHK Oilfield Products Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,933
9,974
Current assets
Debtors
6
728,762
744,633
Cash at bank and in hand
408,619
420,967
------------
------------
1,137,381
1,165,600
Creditors: amounts falling due within one year
7
502,748
402,119
------------
------------
Net current assets
634,633
763,481
---------
---------
Total assets less current liabilities
636,566
773,455
---------
---------
Net assets
636,566
773,455
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
635,566
772,455
---------
---------
Shareholders funds
636,566
773,455
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JHK Oilfield Products Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
D Donaghy
Director
Company registration number: 08481743
JHK Oilfield Products Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Springwood, Spring Lane, Heslington, York, YO10 5DZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, stated net of discounts. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 .
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% straight line
Office Equipment
-
33% straight line
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 May 2023
36,926
25,378
62,304
Additions
340
340
--------
--------
--------
At 30 April 2024
36,926
25,718
62,644
--------
--------
--------
Depreciation
At 1 May 2023
30,820
21,510
52,330
Charge for the year
3,693
4,688
8,381
--------
--------
--------
At 30 April 2024
34,513
26,198
60,711
--------
--------
--------
Carrying amount
At 30 April 2024
2,413
( 480)
1,933
--------
--------
--------
At 30 April 2023
6,106
3,868
9,974
--------
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
510,262
348,633
Other debtors
218,500
396,000
---------
---------
728,762
744,633
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
497,305
394,766
Other creditors
5,443
7,353
---------
---------
502,748
402,119
---------
---------