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J T COMMERCIALS LIMITED

Unaudited Financial Statements

for the Year Ended 31st December 2023






J T COMMERCIALS LIMITED (REGISTERED NUMBER: 09991500)






Contents of the Financial Statements
for the year ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J T COMMERCIALS LIMITED

Company Information
for the year ended 31st December 2023







DIRECTORS: T A Williams
J Rooney





SECRETARY: T A Williams





REGISTERED OFFICE: Main Office
Williams Brothers Industrial Park
Pingwood Lane
Kirkby
Liverpool
L33 4XZ





REGISTERED NUMBER: 09991500 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

J T COMMERCIALS LIMITED (REGISTERED NUMBER: 09991500)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 718 426

CURRENT ASSETS
Stocks 268,776 164,200
Debtors 5 12,711 53,831
Cash at bank and in hand 61,336 94,592
342,823 312,623
CREDITORS
Amounts falling due within one year 6 169,445 180,743
NET CURRENT ASSETS 173,378 131,880
TOTAL ASSETS LESS CURRENT LIABILITIES 174,096 132,306

CREDITORS
Amounts falling due after more than one
year

7

13,993

23,251
NET ASSETS 160,103 109,055

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 160,101 109,053
160,103 109,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

J T COMMERCIALS LIMITED (REGISTERED NUMBER: 09991500)

Balance Sheet - continued
31st December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th April 2025 and were signed on its behalf by:





T A Williams - Director


J T COMMERCIALS LIMITED (REGISTERED NUMBER: 09991500)

Notes to the Financial Statements
for the year ended 31st December 2023

1. STATUTORY INFORMATION

J T Commercials Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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.
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

J T COMMERCIALS LIMITED (REGISTERED NUMBER: 09991500)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to / from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 773
Additions 645
At 31st December 2023 1,418
DEPRECIATION
At 1st January 2023 347
Charge for year 353
At 31st December 2023 700
NET BOOK VALUE
At 31st December 2023 718
At 31st December 2022 426

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,575 53,831
Other debtors 5,136 -
12,711 53,831

J T COMMERCIALS LIMITED (REGISTERED NUMBER: 09991500)

Notes to the Financial Statements - continued
for the year ended 31st December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,200 11,232
Trade creditors 272 8,122
Taxation and social security 29,866 41,755
Other creditors 129,107 119,634
169,445 180,743

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 13,993 23,251

8. RELATED PARTY DISCLOSURES

Included in creditors are the sums of £75,631 (2022 - £9,435) and £43,676 (2022 - £43,898) being due to the company directors Mr T A Williams and Mr J Rooney.