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REGISTERED NUMBER: 10850488 (England and Wales)


Financial Statements for the Year Ended 31 August 2024

for

J B Patel Ltd

J B Patel Ltd (Registered number: 10850488)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J B Patel Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr Jainise Bhupendra Patel





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
West Midlands
CV6 4AD





REGISTERED NUMBER: 10850488 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

J B Patel Ltd (Registered number: 10850488)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,500 32,500
Property, plant and equipment 5 52,353 69,805
84,853 102,305

CURRENT ASSETS
Inventories 31,287 33,563
Debtors 6 141,068 144,169
Cash at bank and in hand 5,884 15,548
178,239 193,280
CREDITORS
Amounts falling due within one year 7 92,296 98,218
NET CURRENT ASSETS 85,943 95,062
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,796

197,367

CREDITORS
Amounts falling due after more than one
year

8

148,023

178,187
NET ASSETS 22,773 19,180

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 22,673 19,080
SHAREHOLDERS' FUNDS 22,773 19,180

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

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.

J B Patel Ltd (Registered number: 10850488)

Statement of Financial Position - continued
31 August 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 director and authorised for issue on 12 February 2025 and were signed by:





Mr Jainise Bhupendra Patel - Director


J B Patel Ltd (Registered number: 10850488)

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

1. STATUTORY INFORMATION

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 32,500
NET BOOK VALUE
At 31 August 2024 32,500
At 31 August 2023 32,500

J B Patel Ltd (Registered number: 10850488)

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

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 91,203
DEPRECIATION
At 1 September 2023 21,398
Charge for year 17,452
At 31 August 2024 38,850
NET BOOK VALUE
At 31 August 2024 52,353
At 31 August 2023 69,805

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 13,672 16,839
Other debtors 127,396 127,330
141,068 144,169

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 4,968 3,065
Taxation and social security 4,475 1,925
Other creditors 82,853 93,228
92,296 98,218

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 98,503 122,753
Hire purchase contracts 49,520 55,434
148,023 178,187

J B Patel Ltd (Registered number: 10850488)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100