REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
JBNP WARRANTY SERVICES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
for |
JBNP WARRANTY SERVICES LIMITED |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
JBNP WARRANTY SERVICES LIMITED |
Company Information |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Southernhay West |
Exeter |
Devon |
EX1 1JG |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Balance Sheet |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Balance Sheet - continued |
30 JUNE 2024 |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
JBNP Warranty Services 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 presentation currency of the financial statements is the Pound Sterling (£). |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts chargeable in respect of the sale of goods and services falling within the company's ordinary activities. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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. |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
3. | ACCOUNTING POLICIES - continued |
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 and leasing commitments |
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 July 2023 |
Transfer to ownership | (29,704 | ) |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
Transfer to ownership | (21,482 | ) |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Tax |
VAT | 73,725 | 35,968 |
Directors' current accounts | 29,721 | 26,214 |
Accrued expenses |
JBNP WARRANTY SERVICES LIMITED (REGISTERED NUMBER: 07048947) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
8. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
9. | SECURED DEBTS |
Hire purchase liabilities are secured over the asset to which the liability relates. |
There is a fixed and floating charge with Svenska Handelsbanken Ab (Publ) dated 23 April 2018 over all the property and undertakings of the company. |
10. | RELATED PARTY DISCLOSURES |
Palmer Birch |
Mr Nelson Birch is sole proprietor of the business. |
Included within other debtors ia an interest free loan to Palmer Birch and the balance at 30 June 2024 was £560,319 (2023 - £621,839). |
Souster & Birch |
Mr Nelson Birch is joint proprietor of the business. |
Included within other debtors is a loan to Souster & Birch and the balance at 30 June 2024 was £249,592. Interest is being charged on the loan. |