J.P. Distributors Limited - Filleted accounts

Registered number

02636327

J.P. Distributors Limited

Unaudited Filleted Accounts

31 August 2024

J.P. Distributors Limited
Registered number:		02636327
Balance Sheet
as at 31 August 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		190,983			200,863

Current assets
Stocks		141,350			165,500
Debtors	4	42,826			31,065
Cash at bank and in hand		1,742			56,108
		185,918			252,673

Creditors: amounts falling due within one year	5	(151,478)			(172,906)

Net current assets			34,440			79,767

Total assets less current liabilities			225,423			280,630

Creditors: amounts falling due after more than one year	6		(104,833)			(137,448)



Net assets			120,590			143,182

Capital and reserves
Called up share capital			100			100
Profit and loss account			120,490			143,082

Shareholders' funds			120,590			143,182

Average number of employees			5			5

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Sarbjit Singh Jandoo Mr Jodh Singh Jandoo
Director
Approved by the board on 23 May 2025

J.P. Distributors Limited
Notes to the Accounts
for the year ended 31 August 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Equipment, fixtures and fittings			20% reducing balance basis
	Motor vehicles			25% reducing balance basis

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					5		5


3	Tangible fixed assets
		Leasehold premises and Inprovements		Equipment, fixtures and fittings		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2023	148,891		189,412		64,489		402,792
	Additions	-		1,209		-		1,209
	At 31 August 2024	148,891		190,621		64,489		404,001

	Depreciation
	At 1 September 2023	-		146,493		55,436		201,929
	Charge for the year	-		8,826		2,263		11,089
	At 31 August 2024	-		155,319		57,699		213,018

	Net book value
	At 31 August 2024	148,891		35,302		6,790		190,983
	At 31 August 2023	148,891		42,919		9,053		200,863


4	Debtors					2024		2023
£							£

	Trade debtors					42,826		31,065



5	Creditors: amounts falling due within one year					2024		2023
£							£

	Directors' current account					99,686		121,823
	Bank overdraft					30,492		-
	Trade creditors					-		11,326
	Related party balances					19,000		25,970
	Corporation tax					-		(2,491)
	Other taxes and social security costs					-		12,778
	Other creditors and accruals					2,300		3,500
						151,478		172,906


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bounce back loan					104,833		137,448



7	Related party transactions					2024		2023
£							£

	VI Property Investments Limited
	Mr Sarbjit Singh Jandoo, a director and shareholder of this company is also a director and shareholder of VI Property Investments Limited.
	An interest free and unsecured loan from VI property Investments Limited yet to be reimbursed by the company.
	Amount due to the related party					12,000		12,000

	Parkside Mansion Properties Ltd
	Mr Sarbjit Singh Jandoo and Mr Jodh Singh Jandoo, directors and shareholders of this company are also directors and shareholders of Parkside Mansion Properties Ltd.
	An interest free and unsecured loan from Parkside Mansion Properties Ltd yet to be reimbursed by the company.
	Amount due to the related party					7,000		18,970



8	Controlling party

	The directors controls the company by virtue of a controlling interest (directly or indirectly) of 100% of the issued share capital.





9	Other information

	J.P. Distributors Limited is a private company limited by shares and incorporated in England. Its registered office is:
	17 Leeland Mansions
	Leeland Road
	West Ealing
	London
	W13 9HE