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Registration number: 14809062

J G Cabling Solutions Ltd

Unaudited Financial Statements

for the Period from 1 May 2024 to 31 December 2024

 

J G Cabling Solutions Ltd

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

J G Cabling Solutions Ltd

Company Information

Director

Mr J Gough

Registered office

Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

Accountants

Erdingsworth Business & Tax Advisors Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

 

J G Cabling Solutions Ltd

Profit and Loss Account and Statement of Retained Earnings for the Period from 1 May 2024 to 31 December 2024

Note

2024
£

2024
£

Turnover

 

83,608

104,154

Cost of sales

 

(54,847)

(52,425)

Gross profit

 

28,761

51,729

Administrative expenses

 

(33,708)

(38,272)

Operating (loss)/profit

 

(4,947)

13,457

(Loss)/profit before tax

(4,947)

13,457

Taxation

 

-

(3,222)

(Loss)/profit for the financial period

 

(4,947)

10,235

Retained earnings brought forward

 

10,235

-

Retained earnings carried forward

 

5,288

10,235

 

J G Cabling Solutions Ltd

(Registration number: 14809062)
Balance Sheet as at 31 December 2024

Note

2024
£

2024
£

Fixed assets

 

Intangible assets

4

28,000

31,500

Current assets

 

Debtors

5

164

16,418

Cash at bank and in hand

 

42,153

39,029

 

42,317

55,447

Creditors: Amounts falling due within one year

6

(486)

(3,668)

Net current assets

 

41,831

51,779

Total assets less current liabilities

 

69,831

83,279

Creditors: Amounts falling due after more than one year

6

(64,443)

(72,944)

Net assets

 

5,388

10,335

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

5,288

10,235

Shareholders' funds

 

5,388

10,335

For the financial period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 February 2025
 

.........................................
Mr J Gough
Director

 

J G Cabling Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 3 Cuckoo Wharf
427 Lichfield Road
Birmingham
B6 7SS

These financial statements were authorised for issue by the director on 22 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

J G Cabling Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

2

Accounting policies (continued)

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

J G Cabling Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2024 - 1).

 

J G Cabling Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2024

35,000

35,000

At 31 December 2024

35,000

35,000

Amortisation

At 1 May 2024

3,500

3,500

Amortisation charge

3,500

3,500

At 31 December 2024

7,000

7,000

Carrying amount

At 31 December 2024

28,000

28,000

At 30 April 2024

31,500

31,500

5

Debtors

Current

2024
£

2024
£

Trade debtors

164

16,254

Other debtors

-

164

 

164

16,418

6

Creditors

Creditors: amounts falling due within one year

2024
£

2024
£

Due within one year

Taxation and social security

486

446

Accruals and deferred income

-

3,222

486

3,668

Creditors: amounts falling due after more than one year

Note

2024
£

2024
£

Due after one year

 

Loans and borrowings

8

64,443

72,944

 

J G Cabling Solutions Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2024 to 31 December 2024 (continued)

7

Share capital

Allotted, called up and fully paid shares

2024

2024

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2024
£

Other borrowings

64,443

72,944