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Registered number: NI629430
Jlux Solutions Ltd.
Unaudited Financial Statements
For The Year Ended 30 June 2024
Kiemac Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: NI629430
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 10,000 10,000
Tangible Assets 5 26,188 20,455
36,188 30,455
CURRENT ASSETS
Stocks 6 255,000 225,000
Debtors 7 144,118 143,390
Cash at bank and in hand 151,519 112,996
550,637 481,386
Creditors: Amounts Falling Due Within One Year 8 (147,350 ) (79,523 )
NET CURRENT ASSETS (LIABILITIES) 403,287 401,863
TOTAL ASSETS LESS CURRENT LIABILITIES 439,475 432,318
Creditors: Amounts Falling Due After More Than One Year 9 (20,741 ) (30,733 )
NET ASSETS 418,734 401,585
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 418,733 401,584
SHAREHOLDERS' FUNDS 418,734 401,585
Page 1
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Johnathan McPeake
Director
18/02/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Jlux Solutions Ltd. is a private company, limited by shares, incorporated in Northern Ireland, registered number NI629430 . The registered office is Unit K , Toome Retail Park, Toomebridge, Co Antrim, BT41 3SF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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 .... 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:
Freehold 0% Straight Line
Leasehold 0% Straight Line
Plant & Machinery 33% Straight Line
Motor Vehicles 33% Straight Line
Fixtures & Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
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.
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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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 10,000
As at 30 June 2024 10,000
Net Book Value
As at 30 June 2024 10,000
As at 1 July 2023 10,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 4,868 2,030 73,410 17,629
Additions - - 17,500 -
Disposals - - (10,900 ) -
As at 30 June 2024 4,868 2,030 80,010 17,629
...CONTINUED
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Depreciation
As at 1 July 2023 - 2,030 62,079 14,511
Provided during the period - - 10,703 779
Disposals - - (10,900 ) -
As at 30 June 2024 - 2,030 61,882 15,290
Net Book Value
As at 30 June 2024 4,868 - 18,128 2,339
As at 1 July 2023 4,868 - 11,331 3,118
Computer Equipment Total
£ £
Cost
As at 1 July 2023 6,771 104,708
Additions - 17,500
Disposals - (10,900 )
As at 30 June 2024 6,771 111,308
Depreciation
As at 1 July 2023 5,633 84,253
Provided during the period 285 11,767
Disposals - (10,900 )
As at 30 June 2024 5,918 85,120
Net Book Value
As at 30 June 2024 853 26,188
As at 1 July 2023 1,138 20,455
6. Stocks
2024 2023
as restated
£ £
Stock 255,000 225,000
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 119,961 122,351
Other debtors 24,157 -
Director's loan account - 21,039
144,118 143,390
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 110,544 59,867
Corporation tax 7,072 -
VAT 21,537 16,274
Net wages 4,020 1,912
Other creditors 3,362 1,470
Director's loan account 815 -
147,350 79,523
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 20,741 30,733
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
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