Registered number
05257057
Jabez Technology Ltd
Unaudited Filleted Accounts
31 December 2024
Jabez Technology Ltd
Registered number: 05257057
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,662 7,549
Current assets
Stocks 14,528 13,522
Debtors 4 9,773 41,718
Cash at bank and in hand 449,745 509,237
474,046 564,477
Creditors: amounts falling due within one year 5 (36,975) (118,319)
Net current assets 437,071 446,158
Net assets 442,733 453,707
Capital and reserves
Called up share capital 100 100
Profit and loss account 442,633 453,607
Shareholders' funds 442,733 453,707
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Dale
Director
Approved by the board on 20 February 2025
Jabez Technology Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Computer equipment 33.3% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 31 December 2024 38,807 96,630 135,437
Depreciation
At 1 January 2024 38,514 89,374 127,888
At 31 December 2024 38,587 91,188 129,775
Net book value
At 31 December 2024 220 5,442 5,662
At 31 December 2023 293 7,256 7,549
4 Debtors 2024 2023
£ £
Trade debtors 9,773 41,718
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 14,337
Taxation and social security costs 25,216 101,067
Director's loan account 9,678 890
Other creditors 2,081 2,025
36,975 118,319
6 Other information
Jabez Technology Ltd is a private company limited by shares and incorporated in England. Its registered office is:
77 Quarry Road
Witney
Oxon
OX28 1JT
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