IRIS Accounts Production v24.3.0.553 06302755 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary Class A 1.00000 Ordinary Class B 1.00000 Ordinary Class C 1.00000 Ordinary Class D 1.00000 Ordinary Class H 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063027552023-03-31063027552024-03-31063027552023-04-012024-03-31063027552022-03-31063027552022-04-012023-03-31063027552023-03-3106302755ns15:EnglandWales2023-04-012024-03-3106302755ns14:PoundSterling2023-04-012024-03-3106302755ns10:Director12023-04-012024-03-3106302755ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3106302755ns10:SmallEntities2023-04-012024-03-3106302755ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3106302755ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3106302755ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106302755ns10:FullAccounts2023-04-012024-03-3106302755ns10:OrdinaryShareClass12023-04-012024-03-3106302755ns10:OrdinaryShareClass22023-04-012024-03-3106302755ns10:OrdinaryShareClass32023-04-012024-03-3106302755ns10:OrdinaryShareClass42023-04-012024-03-3106302755ns10:OrdinaryShareClass52023-04-012024-03-3106302755ns10:Director22023-04-012024-03-3106302755ns10:Director32023-04-012024-03-3106302755ns10:Director42023-04-012024-03-3106302755ns10:CompanySecretary12023-04-012024-03-3106302755ns10:RegisteredOffice2023-04-012024-03-3106302755ns5:CurrentFinancialInstruments2024-03-3106302755ns5:CurrentFinancialInstruments2023-03-3106302755ns5:Non-currentFinancialInstruments2024-03-3106302755ns5:Non-currentFinancialInstruments2023-03-3106302755ns5:ShareCapital2024-03-3106302755ns5:ShareCapital2023-03-3106302755ns5:RetainedEarningsAccumulatedLosses2024-03-3106302755ns5:RetainedEarningsAccumulatedLosses2023-03-3106302755ns5:PlantMachinery2023-04-012024-03-3106302755ns5:MotorVehicles2023-04-012024-03-3106302755ns5:ComputerEquipment2023-04-012024-03-3106302755ns5:PlantMachinery2023-03-3106302755ns5:MotorVehicles2023-03-3106302755ns5:ComputerEquipment2023-03-3106302755ns5:PlantMachinery2024-03-3106302755ns5:MotorVehicles2024-03-3106302755ns5:ComputerEquipment2024-03-3106302755ns5:PlantMachinery2023-03-3106302755ns5:MotorVehicles2023-03-3106302755ns5:ComputerEquipment2023-03-3106302755ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3106302755ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3106302755ns5:LeasedAssetsHeldAsLessee2023-03-3106302755ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3106302755ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3106302755ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3106302755ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3106302755ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3106302755ns5:LeasedAssetsHeldAsLessee2024-03-3106302755ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3106302755ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3106302755ns5:LeasedAssetsHeldAsLessee2023-03-3106302755ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3106302755ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3106302755ns5:DeferredTaxation2023-03-3106302755ns5:DeferredTaxation2023-04-012024-03-3106302755ns5:DeferredTaxation2024-03-3106302755ns10:OrdinaryShareClass12024-03-3106302755ns10:OrdinaryShareClass22024-03-3106302755ns10:OrdinaryShareClass32024-03-3106302755ns10:OrdinaryShareClass42024-03-3106302755ns10:OrdinaryShareClass52024-03-3106302755ns10:Director222023-03-3106302755ns10:Director222022-03-3106302755ns10:Director222023-04-012024-03-3106302755ns10:Director222022-04-012023-03-3106302755ns10:Director222024-03-3106302755ns10:Director222023-03-31063027551ns10:Director12023-03-31063027551ns10:Director12022-03-31063027551ns10:Director12023-04-012024-03-31063027551ns10:Director12022-04-012023-03-31063027551ns10:Director12024-03-31063027551ns10:Director12023-03-3106302755ns10:Director332023-03-3106302755ns10:Director332022-03-3106302755ns10:Director332023-04-012024-03-3106302755ns10:Director332022-04-012023-03-3106302755ns10:Director332024-03-3106302755ns10:Director332023-03-3106302755ns10:Director442023-03-3106302755ns10:Director442022-03-3106302755ns10:Director442023-04-012024-03-3106302755ns10:Director442022-04-012023-03-3106302755ns10:Director442024-03-3106302755ns10:Director442023-03-31
REGISTERED NUMBER: 06302755 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JIB ENGINEERING LIMITED

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JIB ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr J Lord
Mr R Lord
Mr B S Lord
Mr I P Lord



SECRETARY: Mrs M Lord



REGISTERED OFFICE: 22 New Road
Barlborough
Chesterfield
South Yorkshire
S43 4HZ



REGISTERED NUMBER: 06302755 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: National Westminster Bank PLC
Sheffield City Centre (E) Branch
42 High Street
Sheffield
South Yorkshire
S1 2GE

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 621,520 716,311

CURRENT ASSETS
Debtors 5 462,172 898,517
Cash at bank and in hand 949 900
463,121 899,417
CREDITORS
Amounts falling due within one year 6 435,205 628,001
NET CURRENT ASSETS 27,916 271,416
TOTAL ASSETS LESS CURRENT LIABILITIES 649,436 987,727

CREDITORS
Amounts falling due after more than
one year

7

(10,571

)

(54,685

)

PROVISIONS FOR LIABILITIES 9 (155,380 ) (132,342 )
NET ASSETS 483,485 800,700

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 483,285 800,500
SHAREHOLDERS' FUNDS 483,485 800,700

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

BALANCE SHEET - continued
31 MARCH 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr B S Lord - Director


JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

JIB Engineering Limited 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Turnover is recognised to the extent that the company has obtained the right to consideration through the performance of its contractual obligations. Where the substance is that the company's contractual obligations are performed over time, turnover is recognised as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount recognised represents the right to consideration by reference to the value of the work performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance


JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase agreement / operating lease agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs
The company contributes to employees' personal money purchase pension schemes. Contributions payable for the year are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 31 ) .

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 911,083 306,746 6,363 1,224,192
Additions 8,380 51,170 - 59,550
Disposals (79,200 ) (31,672 ) - (110,872 )
At 31 March 2024 840,263 326,244 6,363 1,172,870
DEPRECIATION
At 1 April 2023 292,981 209,501 5,399 507,881
Charge for year 65,799 33,210 241 99,250
Eliminated on disposal (36,012 ) (19,769 ) - (55,781 )
At 31 March 2024 322,768 222,942 5,640 551,350
NET BOOK VALUE
At 31 March 2024 517,495 103,302 723 621,520
At 31 March 2023 618,102 97,245 964 716,311

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 343,350 - 343,350
Additions - 29,060 29,060
Transfer to ownership (152,400 ) - (152,400 )
At 31 March 2024 190,950 29,060 220,010
DEPRECIATION
At 1 April 2023 29,239 - 29,239
Charge for year 26,012 7,265 33,277
Transfer to ownership (35,265 ) - (35,265 )
At 31 March 2024 19,986 7,265 27,251
NET BOOK VALUE
At 31 March 2024 170,964 21,795 192,759
At 31 March 2023 314,111 - 314,111

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 355,318 750,399
Other debtors 9,350 11,900
Directors' current accounts 80,779 93,524
VAT 10,006 41,824
Prepayments and accrued income 6,719 870
462,172 898,517

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 26,926 37,767
Hire purchase contracts 61,995 131,542
Trade creditors 234,412 365,773
Corporation tax 25,253 21,254
PAYE and NIC 17,801 19,123
Directors' current accounts 59,075 46,132
Accruals and deferred income 9,743 6,410
435,205 628,001

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 10,571 54,685

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 72,566 186,227

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 155,380 132,342

Deferred
tax
£   
Balance at 1 April 2023 132,342
Charge to Income Statement during year 23,038
Balance at 31 March 2024 155,380

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
93 Ordinary Class A £1 93 93
24 Ordinary Class B £1 24 24
24 Ordinary Class C £1 24 24
52 Ordinary Class D £1 52 52
1 Ordinary Class H £1 1 1
1 Ordinary Class I £1 1 1
1 Ordinary Class J £1 1 1
1 Ordinary Class K £1 1 1
1 Ordinary Class L £1 1 1
1 Ordinary Class M £1 1 1
1 Ordinary Class N £1 1 1
200 200

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr J Lord
Balance outstanding at start of year 45,641 -
Amounts advanced 33,396 144,741
Amounts repaid (45,641 ) (99,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 33,396 45,641

Mr B S Lord
Balance outstanding at start of year - -
Amounts advanced - 59,390
Amounts repaid - (59,390 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

JIB ENGINEERING LIMITED (REGISTERED NUMBER: 06302755)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr R Lord
Balance outstanding at start of year - -
Amounts advanced - 9,155
Amounts repaid - (9,155 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr I P Lord
Balance outstanding at start of year 47,882 46,488
Amounts advanced 47,383 100,494
Amounts repaid (47,882 ) (99,100 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 47,383 47,882