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REGISTERED NUMBER: 11476921 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

J.P Autos of Sleaford Ltd

J.P Autos of Sleaford Ltd (Registered number: 11476921)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


J.P Autos of Sleaford Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Miss K Barley
J Paterson





SECRETARY: Miss K Barley





REGISTERED OFFICE: 1 Pride Court
Pride Parkway
Sleaford
NG34 8GL





REGISTERED NUMBER: 11476921 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

J.P Autos of Sleaford Ltd (Registered number: 11476921)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,853 44,616

CURRENT ASSETS
Stocks 9,000 19,000
Debtors 5 26,734 25,559
Cash at bank 38,754 35,210
74,488 79,769
CREDITORS
Amounts falling due within one year 6 54,018 63,796
NET CURRENT ASSETS 20,470 15,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,323

60,589

CREDITORS
Amounts falling due after more than one
year

7

(6,350

)

(12,700

)

PROVISIONS FOR LIABILITIES (11,139 ) (8,771 )
NET ASSETS 47,834 39,118

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 47,832 39,116
SHAREHOLDERS' FUNDS 47,834 39,118

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 10 February 2025 and were signed on its behalf by:





J Paterson - Director


J.P Autos of Sleaford Ltd (Registered number: 11476921)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

J.P Autos of Sleaford Ltd 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 - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

J.P Autos of Sleaford Ltd (Registered number: 11476921)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2023 500 60,611 1,600 2,691 65,402
Additions - 7,252 - 1,026 8,278
At 31 July 2024 500 67,863 1,600 3,717 73,680
DEPRECIATION
At 1 August 2023 154 18,143 1,188 1,301 20,786
Charge for year 50 7,458 103 430 8,041
At 31 July 2024 204 25,601 1,291 1,731 28,827
NET BOOK VALUE
At 31 July 2024 296 42,262 309 1,986 44,853
At 31 July 2023 346 42,468 412 1,390 44,616

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 24,795
DEPRECIATION
At 1 August 2023
and 31 July 2024 4,780
NET BOOK VALUE
At 31 July 2024 20,015
At 31 July 2023 20,015

J.P Autos of Sleaford Ltd (Registered number: 11476921)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,197 24,354
Other debtors 2,537 1,205
26,734 25,559

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,350 6,350
Hire purchase contracts 2,150 5,051
Trade creditors 12,024 10,290
Taxation and social security 28,491 20,359
Other creditors 5,003 21,746
54,018 63,796

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 6,350 12,700

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2