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Registered number: 11455017
JPH Electricals Group Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Freya Accounts Ltd
Holbrook House, 32 Oakley Lane
Oakley
Basingstoke
Hampshire
RG23 7JY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11455017
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 38,444 52,469
38,444 52,469
CURRENT ASSETS
Stocks 6 1,000 1,000
Debtors 7 47,040 9,826
Cash at bank and in hand 38,906 37,731
86,946 48,557
Creditors: Amounts Falling Due Within One Year 8 (73,754 ) (61,912 )
NET CURRENT ASSETS (LIABILITIES) 13,192 (13,355 )
TOTAL ASSETS LESS CURRENT LIABILITIES 51,636 39,114
Creditors: Amounts Falling Due After More Than One Year 9 (24,905 ) (34,244 )
NET ASSETS 26,731 4,870
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 26,631 4,770
SHAREHOLDERS' FUNDS 26,731 4,870
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Hill
Director
7th February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JPH Electricals Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11455017 . The registered office is Holbrook House, 32 Oakley Lane, Oakley, Hampshire, RG23 7JY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of four years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on Cost
Motor Vehicles 25% on Cost
Computer Equipment 25% on Cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was 7 (2023: 6)
7 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 5,000
As at 31 July 2024 5,000
Amortisation
As at 1 August 2023 5,000
As at 31 July 2024 5,000
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 August 2023 2,926 89,299 1,271 93,496
Additions - 6,530 2,206 8,736
Disposals (376 ) - - (376 )
As at 31 July 2024 2,550 95,829 3,477 101,856
Depreciation
As at 1 August 2023 535 39,618 874 41,027
Provided during the period 638 21,438 685 22,761
Disposals (376 ) - - (376 )
As at 31 July 2024 797 61,056 1,559 63,412
Net Book Value
As at 31 July 2024 1,753 34,773 1,918 38,444
As at 1 August 2023 2,391 49,681 397 52,469
6. Stocks
2024 2023
£ £
Materials 1,000 1,000
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 44,076 7,932
Prepayments and accrued income 1,424 605
CIS Deductions 42 192
Directors' loan accounts 40 1,097
45,582 9,826
Due after more than one year
Deposit Paid 1,458 -
47,040 9,826
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 48,851 35,557
Corporation tax 1,454 -
Other taxes and social security 2,037 3,222
VAT 10,410 9,317
Net wages - 200
Amex 9,246 13,178
Pension Liability 336 413
Paypal Credit 1,364 -
Directors' loan accounts 56 25
73,754 61,912
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 14,238 19,577
Bounce Back Loan 10,667 14,667
24,905 34,244
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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