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REGISTERED NUMBER: 03710472 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

J. G. ELECTRICAL LIMITED

J. G. ELECTRICAL LIMITED (REGISTERED NUMBER: 03710472)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J. G. ELECTRICAL LIMITED

COMPANY INFORMATION
for the Year Ended 29th February 2024







DIRECTORS: Mrs G A Greenaway
E P D Goody
M C Goody





REGISTERED OFFICE: 91 Nettlecombe
Crown Wood
Bracknell
Berkshire
RG12 0UH





REGISTERED NUMBER: 03710472 (England and Wales)





ACCOUNTANTS: Draper Accountants Limited
3 Quarry Close
Green Lane
Leatherhead
Surrey
KT22 8US

J. G. ELECTRICAL LIMITED (REGISTERED NUMBER: 03710472)

BALANCE SHEET
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,129 75,414

CURRENT ASSETS
Stocks 39,000 44,481
Debtors 5 94,001 18,062
Cash at bank 15,887 7,594
148,888 70,137
CREDITORS
Amounts falling due within one year 6 88,618 57,247
NET CURRENT ASSETS 60,270 12,890
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,399

88,304

CREDITORS
Amounts falling due after more than one
year

7

56,512

35,185
NET ASSETS 90,887 53,119

CAPITAL AND RESERVES
Called up share capital 100 2
Retained earnings 90,787 53,117
SHAREHOLDERS' FUNDS 90,887 53,119

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 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.

J. G. ELECTRICAL LIMITED (REGISTERED NUMBER: 03710472)

BALANCE SHEET - continued
29th February 2024


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 27th November 2024 and were signed on its behalf by:




E P D Goody - Director



M C Goody - Director


J. G. ELECTRICAL LIMITED (REGISTERED NUMBER: 03710472)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

J. G. Electrical 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.

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.

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

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.
Improvements to property - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

J. G. ELECTRICAL LIMITED (REGISTERED NUMBER: 03710472)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1st March 2023 43,856 1,603 49,268
Additions - 150 1,137
At 29th February 2024 43,856 1,753 50,405
DEPRECIATION
At 1st March 2023 10,005 985 16,851
Charge for year 8,770 116 5,030
At 29th February 2024 18,775 1,101 21,881
NET BOOK VALUE
At 29th February 2024 25,081 652 28,524
At 28th February 2023 33,851 618 32,417

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st March 2023 43,959 9,739 148,425
Additions 36,534 - 37,821
At 29th February 2024 80,493 9,739 186,246
DEPRECIATION
At 1st March 2023 38,137 7,033 73,011
Charge for year 10,590 1,600 26,106
At 29th February 2024 48,727 8,633 99,117
NET BOOK VALUE
At 29th February 2024 31,766 1,106 87,129
At 28th February 2023 5,822 2,706 75,414

J. G. ELECTRICAL LIMITED (REGISTERED NUMBER: 03710472)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29th February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 36,534
At 29th February 2024 36,534
DEPRECIATION
Charge for year 9,134
At 29th February 2024 9,134
NET BOOK VALUE
At 29th February 2024 27,400

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 89,526 11,512
Other debtors 4,475 6,550
94,001 18,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 6,230 -
Trade creditors 35,205 20,928
Taxation and social security 4,654 7,237
Other creditors 36,973 23,526
88,618 57,247

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 29,630 35,185
Hire purchase contracts 21,051 -
Other creditors 5,831 -
56,512 35,185

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,852 7,407