Company Registration No. 9151888 (England and Wales)
JNS MOTOR SPARES LIMITED
Unaudited accounts
for the year ended 31 July 2024
JNS MOTOR SPARES LIMITED
Unaudited accounts
Contents
JNS MOTOR SPARES LIMITED
Company Information
for the year ended 31 July 2024
Directors
Mohammed Shaid
Akhtar Mahmood Yousef
Company Number
9151888 (England and Wales)
Registered Office
The Old Sunday School
Bakes Street
Bradford
BD7 3EX
Accountants
B Ram & Co Accountants Ltd
7 Idle Road
Bradford
BD2 4QA
JNS MOTOR SPARES LIMITED
Statement of financial position
as at 31 July 2024
Tangible assets
81,626
69,041
Inventories
285,336
290,104
Cash at bank and in hand
122,612
156,411
Creditors: amounts falling due within one year
(362,421)
(349,871)
Net current assets
369,006
244,135
Total assets less current liabilities
450,632
313,176
Provisions for liabilities
Deferred tax
(7,837)
(7,279)
Net assets
442,795
305,897
Called up share capital
100
100
Profit and loss account
442,695
305,797
Shareholders' funds
442,795
305,897
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by
Mohammed Shaid
Director
Company Registration No. 9151888
JNS MOTOR SPARES LIMITED
Notes to the Accounts
for the year ended 31 July 2024
JNS MOTOR SPARES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 9151888. The registered office is The Old Sunday School, Bakes Street, Bradford, BD7 3EX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Short leasehold improvments - Straight line over 15 years
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
JNS MOTOR SPARES LIMITED
Notes to the Accounts
for the year ended 31 July 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 August 2023
46,095
17,620
61,921
125,636
Additions
-
30,160
125
30,285
At 31 July 2024
46,095
47,780
62,046
155,921
At 1 August 2023
15,365
4,405
36,825
56,595
Charge for the year
3,073
10,844
3,783
17,700
At 31 July 2024
18,438
15,249
40,608
74,295
At 31 July 2024
27,657
32,531
21,438
81,626
At 31 July 2023
30,730
13,215
25,096
69,041
Amounts falling due within one year
Trade debtors
123,479
147,491
Amounts due from group undertakings etc.
200,000
-
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
297,087
294,246
Taxes and social security
40,836
37,771
Loans from directors
4,618
4,618
JNS MOTOR SPARES LIMITED
Notes to the Accounts
for the year ended 31 July 2024
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).