Relate AccountsProduction v2.7.3 v2.7.3 2023-06-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the Company is the distribution of motor vehicle parts and accessories. 27 February 2025 12 12 08381814 2024-05-31 08381814 2023-05-31 08381814 2022-05-31 08381814 2023-06-01 2024-05-31 08381814 2022-06-01 2023-05-31 08381814 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08381814 uk-curr:PoundSterling 2023-06-01 2024-05-31 08381814 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08381814 uk-bus:AbridgedAccounts 2023-06-01 2024-05-31 08381814 uk-bus:CompanySecretaryDirector1 2023-06-01 2024-05-31 08381814 uk-bus:Director2 2023-06-01 2024-05-31 08381814 uk-bus:Director3 2023-06-01 2024-05-31 08381814 uk-bus:CompanySecretary1 2023-06-01 2024-05-31 08381814 uk-bus:RegisteredOffice 2023-06-01 2024-05-31 08381814 uk-bus:Agent1 2023-06-01 2024-05-31 08381814 uk-core:ShareCapital 2024-05-31 08381814 uk-core:ShareCapital 2023-05-31 08381814 uk-core:OtherReservesSubtotal 2024-05-31 08381814 uk-core:OtherReservesSubtotal 2023-05-31 08381814 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 08381814 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 08381814 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 08381814 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 08381814 uk-bus:FRS102 2023-06-01 2024-05-31 08381814 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 08381814 uk-core:MotorVehicles 2023-06-01 2024-05-31 08381814 uk-core:ComputerEquipment 2023-06-01 2024-05-31 08381814 uk-bus:Audited 2023-06-01 2024-05-31 08381814 uk-core:IntangibleAssetsOtherThanGoodwill 2023-05-31 08381814 uk-core:IntangibleAssetsOtherThanGoodwill 2024-05-31 08381814 uk-core:IntangibleAssetsOtherThanGoodwill 2023-06-01 2024-05-31 08381814 uk-core:ParentEntities 2023-06-01 2024-05-31 08381814 uk-countries:Ireland 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
J4 Truck Components Limited
 
Abridged Financial Statements
 
for the financial year ended 31 May 2024



J4 Truck Components Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Philip Edwards
Derek Whelan
Mark Laverty
 
 
Company Secretary Philip Edwards
 
 
Company Registration Number 08381814
 
 
Registered Office and Business Address Unit 2, Hovefields Court
Hovefield Avenue
Basildon, Essex
SS13 IEB
United Kingdom
 
 
Independent Auditors Cremin McCarthy & Company
Chartered Accountants & Statutory Audit Firm
Suite 23, The Cubes Offices
Beacon South Quarter
Sandyford
Dublin 18



J4 Truck Components Limited
Company Registration Number: 08381814
ABRIDGED BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 6 3,011 3,557
Tangible assets 7 16,210 21,090
───────── ─────────
19,221 24,647
───────── ─────────
 
Current Assets
Stocks 610,844 559,359
Debtors 1,240,015 1,316,541
Cash and cash equivalents 132,718 193,691
───────── ─────────
1,983,577 2,069,591
───────── ─────────
Creditors: amounts falling due within one year (1,280,022) (1,556,393)
───────── ─────────
Net Current Assets 703,555 513,198
───────── ─────────
Total Assets less Current Liabilities 722,776 537,845
 
Provisions for liabilities (1,881) (2,687)
───────── ─────────
Net Assets 720,895 535,158
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Other reserves 149,239 149,239
Retained earnings 571,556 385,819
───────── ─────────
Shareholders' Funds 720,895 535,158
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
           
Approved by the Board and authorised for issue on 27 February 2025 and signed on its behalf by
           
           
________________________________          
Derek Whelan          
Director          
           



J4 Truck Components Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
J4 Truck Components Limited is a company limited by shares incorporated and registered in the United Kingdom. The Company ID Number is 08381814. The registered office of the company is Unit 2, Hovefields Court, Hovefield Avenue, Basildon, Essex, SS13 IEB, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the Company for the financial year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover is recognised to the extent that the company obtains the right to consideration in exchange for its performance.   Turnover comprises the fair value of consideration received and receivable exclusive of value added tax and after discounts and rebates.

Where the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes a financing transaction, the fair value of the consideration is measured as the present value of all future receipts using the imputed rate of interest.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Turnover from the provision of services is recognised in the accounting period in which the services are rendered and the outcome of the contract can be estimated reliably.  The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.
 
Intangible assets
 
Computer Software
Computer Software are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, Fittings & Equipment - 25% Reducing-Balance
  Motor vehicles - 25% Straight line
  Computer Equipment - 33% Reducing-Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. A full provision is made for obsolete and slow-moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in the Profit & Loss Account in the financial year in which they are incurred.
 
Provisions
Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined contribution pension plans.

(i) Short term benefits
Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

(ii) Annual bonus plans
The company recognises a provision and an expense for bonuses where the company has a legal or constructive obligation as a result of past events and a reliable estimate can be made.  

(iii) Defined contribution pension plans
The Company operates a defined contribution plan.  A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate fund.  Under defined contribution plans, the company has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

For defined contribution plans, the company pays contributions to privately administered pension plans on a contractual or voluntary basis.  The company has no further payment obligations once the contributions have been paid.  The contributions are recognised as employee benefit expense when they are due.  Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the Company is presented as equity.
   
3. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was qualified.
 
The financial statements were audited by Cremin McCarthy & Company.
The Auditor's Report was signed by Alex Cremin (Senior Statutory Auditor) for and on behalf of Cremin McCarthy & Company on 27th February 2025.
 
   
4. Provisions Available for Audits of Small Entities
 
In common with many other businesses of our size and nature, we use our auditors to prepare and submit tax returns to Her Majesty's Revenue and Customs and to assist with the preparation of the financial statements.
       
5. Employees
 
The average monthly number of employees, including directors, during the financial year was 12, (2023 - 12).
 
  2024 2023
  Number Number
 
Operations & Administration 12 12
  ═════════ ═════════
     
6. Intangible assets
  Computer
  Software
  £
Cost
At 1 June 2023 5,345
  ─────────
 
At 31 May 2024 5,345
  ─────────
Amortisation
At 1 June 2023 1,788
Charge for financial year 546
  ─────────
At 31 May 2024 2,334
  ─────────
Net book value
At 31 May 2024 3,011
  ═════════
At 31 May 2023 3,557
  ═════════
           
7. Tangible assets
  Fixtures, Motor Computer Total
  Fittings & vehicles Equipment  
  Equipment      
  £ £ £ £
Cost
At 1 June 2023 32,545 11,000 3,334 46,879
Additions 694 - 632 1,326
  ───────── ───────── ───────── ─────────
At 31 May 2024 33,239 11,000 3,966 48,205
  ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 21,769 1,465 2,555 25,789
Charge for the financial year 3,804 2,196 206 6,206
  ───────── ───────── ───────── ─────────
At 31 May 2024 25,573 3,661 2,761 31,995
  ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 7,666 7,339 1,205 16,210
  ═════════ ═════════ ═════════ ═════════
At 31 May 2023 10,776 9,535 779 21,090
  ═════════ ═════════ ═════════ ═════════
       
8. Capital commitments
 
The Company had no material capital commitments at the financial year-ended 31 May 2024.
       
9. Transactions Between Related Party & Connected Party Companies
 
The Company had the following transactions with group & connected companies during the financial period:
 
  2024 2023
  £ £
 
Sales to Granning Ireland Limited (340,863) (323,404)
Sales to Granning U.K. Limited (3,324) (5,857)
Sales to Granning Lynx (N.I.) Limited (155,669) (146,309)
Purchases from Granning Ireland Limited 501,828 231,198
Purchases from Granning U.K. Limited 4,595 31,500
Purchases from Granning Group Limited 73,068 35,000
Purchases from Granning Lynx (N.I.) Limited 32,024 16,680
  ───────── ─────────
  111,659 (161,192)
  ═════════ ═════════
       
10. Transactions Between Related Party & Connected Party Companies (Continued)
 
The Company had balances with the following group & connected parties at financial period-end:
 
  2024 2023
  £ £
 
Trade Debtors Balance with Granning U.K. Limited 3,794 -
Trade Debtors Balance with Granning Ireland Limited 17,692 37,387
Trade Debtors Balance with Granning Lynx (N.I.) Limited (8,113) 51,690
Trade Debtors Balance with Hireco TL Limited 894 (43)
Trade Creditors Balance with Granning U.K. Limited (4,077) (2,108)
Trade Creditors Balance with Granning Ireland Limited (2,419) (8,737)
  ───────── ─────────
  7,771 78,189
  ═════════ ═════════
   
11. Parent company
 
The Company immediate and controlling parent is Granning Group Limited, a company incorporated in the Republic of Ireland. Granning Group Limiteds registered address is Naas Industrial Estate, Naas, Co. Kildare, Ireland.
 
   
12. Controlling interest
 
The Company is controlled by Patrick Carson.
   
13. Post-Balance Sheet Events
 
There have been no significant events affecting the Company since the financial year-end.