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Registration number: 11680380

JFK Electrical Services (SW) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

JFK Electrical Services (SW) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

JFK Electrical Services (SW) Ltd

Company Information

Directors

M Maggs

J M Boughton

Registered office

14 Cossham Street
Mangotsfield
Bristol
BS16 9EN

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

JFK Electrical Services (SW) Ltd

(Registration number: 11680380)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

3

22,630

26,534

Current assets

 

Stocks

4

280,440

180,876

Debtors

5

982,889

1,202,457

Cash at bank and in hand

 

40,893

-

 

1,304,222

1,383,333

Creditors: Amounts falling due within one year

6

(1,152,787)

(1,418,267)

Net current assets/(liabilities)

 

151,435

(34,934)

Total assets less current liabilities

 

174,065

(8,400)

Creditors: Amounts falling due after more than one year

6

(161,349)

(246,458)

Provisions for liabilities

(5,658)

(6,634)

Net assets/(liabilities)

 

7,058

(261,492)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

6,958

(261,592)

Shareholders' funds/(deficit)

 

7,058

(261,492)

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

JFK Electrical Services (SW) Ltd

(Registration number: 11680380)
Balance Sheet as at 31 March 2025

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
M Maggs
Director

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2024 - 18).

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2024

11,892

28,569

5,195

45,656

Additions

650

3,000

-

3,650

At 31 March 2025

12,542

31,569

5,195

49,306

Depreciation

At 1 April 2024

4,930

11,247

2,945

19,122

Charge for the year

1,908

5,081

565

7,554

At 31 March 2025

6,838

16,328

3,510

26,676

Carrying amount

At 31 March 2025

5,704

15,241

1,685

22,630

At 31 March 2024

6,962

17,322

2,250

26,534

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Stocks

2025
£

2024
£

Work in progress

211,250

130,876

Other inventories

69,190

50,000

280,440

180,876

5

Debtors

Current

2025
£

2024
£

Trade debtors

775,366

987,386

Prepayments

14,152

10,662

Other debtors

193,371

204,409

 

982,889

1,202,457

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

162,730

236,491

Trade creditors

 

533,537

854,526

Taxation and social security

 

242,340

219,443

Accruals and deferred income

 

130,886

35,281

Other creditors

 

83,294

72,526

 

1,152,787

1,418,267

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

161,349

246,458

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

161,349

246,458

Current loans and borrowings

2025
£

2024
£

Bank borrowings

162,730

203,573

Bank overdrafts

-

31,918

Hire purchase contracts

-

1,000

162,730

236,491

 

JFK Electrical Services (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Related party transactions

Loans to related parties

2025

Key management
£

Total
£

At start of period

90,504

90,504

Advanced

131,039

131,039

Repaid

(35,428)

(35,428)

At end of period

186,115

186,115

2024

Key management
£

Total
£

At start of period

28,129

28,129

Advanced

62,375

62,375

At end of period

90,504

90,504

Loans from related parties

2025

Key management
£

Total
£

At start of period

3,638

3,638

Repaid

(3,638)

(3,638)

At end of period

-

-

2024

Key management
£

Total
£

At start of period

54,229

54,229

Advanced

8,312

8,312

Repaid

(58,903)

(58,903)

At end of period

3,638

3,638