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REGISTERED NUMBER: 12242947 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2024

for

JTL Associates Ltd

JTL Associates Ltd (Registered number: 12242947)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


JTL Associates Ltd (Registered number: 12242947)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,605 17,272

CURRENT ASSETS
Debtors 5 24,487 33,323
Cash at bank 2,938 2,220
27,425 35,543
CREDITORS
Amounts falling due within one year 6 73,585 51,599
NET CURRENT LIABILITIES (46,160 ) (16,056 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,555 ) 1,216

CREDITORS
Amounts falling due after more than one year 7 16,071 17,538
NET LIABILITIES (17,626 ) (16,322 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (17,726 ) (16,422 )
SHAREHOLDERS' FUNDS (17,626 ) (16,322 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by:





Mr T L Laga - Director


JTL Associates Ltd (Registered number: 12242947)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

JTL Associates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12242947

Registered office: Spring Court
Spring Road
Hale
Cheshire
WA14 2UQ

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the deficit in net assets. The main creditor of the company is a director, Tristan Laga, whom is owed £25,592 (2023: £20,610). The directors/shareholders are prepared to continue to support the development of the company for the next year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

JTL Associates Ltd (Registered number: 12242947)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 November 2023 18,773 5,224 6,000 29,997
Additions 41,420 381 - 41,801
At 31 October 2024 60,193 5,605 6,000 71,798
DEPRECIATION
At 1 November 2023 7,046 2,751 2,928 12,725
Charge for year 13,286 568 614 14,468
At 31 October 2024 20,332 3,319 3,542 27,193
NET BOOK VALUE
At 31 October 2024 39,861 2,286 2,458 44,605
At 31 October 2023 11,727 2,473 3,072 17,272

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 November 2023 9,597
Additions 40,880
At 31 October 2024 50,477
DEPRECIATION
At 1 November 2023 2,399
Charge for year 12,019
At 31 October 2024 14,418
NET BOOK VALUE
At 31 October 2024 36,059
At 31 October 2023 7,198

JTL Associates Ltd (Registered number: 12242947)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,246 10,862
Other debtors 18,241 22,461
24,487 33,323

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 2,000 2,000
Hire purchase contracts 22,322 4,666
Trade creditors 9,436 12,464
Taxation and social security 3,007 2,152
Other creditors 36,820 30,317
73,585 51,599

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 11,500 13,500
Hire purchase contracts 4,571 4,038
16,071 17,538

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,500 5,500

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 26,893 8,704

Hire purchase liabilities are secured on assets to which they relate.