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COMPANY REGISTRATION NUMBER: 02803471
J.B.C. Control Systems Limited
Filleted Financial Statements
30 April 2024
J.B.C. Control Systems Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of financial position
4
Notes to the financial statements
5
J.B.C. Control Systems Limited
Officers and Professional Advisers
The board of directors
Mr N Griffiths
Mr P Mc Cormack
Mrs J Mc Cormack
Mr J Quinn
Mr P Fairhurst
Company secretary
Mr P Mc Cormack
Registered office
Unit 8, The Quad
Gibfield Park Avenue
Atherton
Manchester
England
M46 0SY
Auditor
Maneely Mc Cann Chartered Accountants
Chartered Accountants & Statutory Auditors
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
Bankers
Santander
Atherleigh Business Park Unit 8, The Quad
Gibfield Park Avenue
Atherton
Manchester
M46 OSY
Solicitors
Lewis Silkin (N.I.) LLP
32-38 Linenhall Street
Belfast
BT2 8BG
J.B.C. Control Systems Limited
Directors' Report
Year ended 30 April 2024
The directors present their report and the financial statements of the company for the year ended 30 April 2024 .
Directors
The directors who served the company during the year were as follows:
Mr N Griffiths
Mr P Mc Cormack
Mrs J Mc Cormack
Mr J Quinn
Mr P Fairhurst
Directors' responsibilities statement
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 29 January 2025 and signed on behalf of the board by:
Mr P Mc Cormack
Mr J Quinn
Director
Director
Registered office:
Unit 8, The Quad
Gibfield Park Avenue
Atherton
Manchester
England
M46 0SY
J.B.C. Control Systems Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
502,237
503,825
Current assets
Stocks
215,199
78,702
Debtors
6
3,065,782
2,605,339
Cash at bank and in hand
1,522,701
1,041,760
------------
------------
4,803,682
3,725,801
Creditors: amounts falling due within one year
7
1,938,909
1,145,981
------------
------------
Net current assets
2,864,773
2,579,820
------------
------------
Total assets less current liabilities
3,367,010
3,083,645
------------
------------
Net assets
3,367,010
3,083,645
------------
------------
Capital and reserves
Called up share capital
50
50
Profit and loss account
3,366,960
3,083,595
------------
------------
Shareholders funds
3,367,010
3,083,645
------------
------------
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 income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 January 2025 , and are signed on behalf of the board by:
Mr P Mc Cormack
Mr J Quinn
Director
Director
Company registration number: 02803471
J.B.C. Control Systems Limited
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 Unit 8, The Quad, Gibfield Park Avenue, Atherton, Manchester, M46 0SY, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Taxation
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Fixtures and fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Land and buildings Land and buildings, other than investment properties, are initially held at cost. The directors do not consider that the valuation at the balance sheet of these assets is materially different to the cost currently being carried in the financial statements. The annual depreciation charge which would be necessary to write down the book value of the assets to residual value is considered to be immaterial and is therefore not provided for.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 25 (2023: 23 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023
497,366
17,726
6,700
39,694
561,486
Additions
1
1
---------
--------
-------
--------
---------
At 30 April 2024
497,366
17,726
6,700
39,695
561,487
---------
--------
-------
--------
---------
Depreciation
At 1 May 2023
15,978
6,700
34,983
57,661
Charge for the year
411
1,178
1,589
---------
--------
-------
--------
---------
At 30 April 2024
16,389
6,700
36,161
59,250
---------
--------
-------
--------
---------
Carrying amount
At 30 April 2024
497,366
1,337
3,534
502,237
---------
--------
-------
--------
---------
At 30 April 2023
497,366
1,748
4,711
503,825
---------
--------
-------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
1,121,757
705,931
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,844,563
1,767,693
Other debtors
99,462
131,715
------------
------------
3,065,782
2,605,339
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,015,905
645,609
Amounts owed to group undertakings and undertakings in which the company has a participating interest
143,387
47,615
Corporation tax
72,926
30,672
Social security and other taxes
39,981
31,935
Other creditors
666,710
390,150
------------
------------
1,938,909
1,145,981
------------
------------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
46,802
38,750
Later than 1 year and not later than 5 years
70,260
30,609
---------
--------
117,062
69,359
---------
--------
9. Summary audit opinion
The auditor's report dated 29 January 2025 was unqualified .
The senior statutory auditor was Cathal Maneely , for and on behalf of Maneely Mc Cann Chartered Accountants .
10. Related party transactions
Control The company is a wholly owned subsidiary of Allurach Limited, a company incorporated in Northern Ireland. Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures. Mr Patrick Mc Cormack is a director of J.B.C. Control Systems Limited and ATC Systems Limited. During the year J.B.C. Control Systems Limited traded with ATC Systems Limited. J.B.C. Control Systems Limited made purchases of £94,052 (2023: £262,833) from ATC Systems Limited and ATC Systems Limited made purchases from J.B.C. Control Systems Limited of £NIL (2023: £12,730). At the year end ATC Systems Limited owed J.B.C. Control Systems Limited a non-trade balance of £739,926 (2023: £663,056).