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JP Connections Limited
Unaudited Financial Statements
For the Period 1 July 2023 to 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08557222
31 December 2024 30 June 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 18,039 18,154
18,039 18,154
CURRENT ASSETS
Debtors 5 40,962 3,112
Cash at bank and in hand 40,547 51,685
81,509 54,797
Creditors: Amounts Falling Due Within One Year 6 (30,222 ) (16,725 )
NET CURRENT ASSETS (LIABILITIES) 51,287 38,072
TOTAL ASSETS LESS CURRENT LIABILITIES 69,326 56,226
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,427 ) (3,449 )
NET ASSETS 65,899 52,777
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 65,898 52,776
SHAREHOLDERS' FUNDS 65,899 52,777
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For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Jane Passingham
Director
30 April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JP Connections Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08557222 . The registered office is 35 Devonshire Buildings, Bath, BA2 4SU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% on reducing balance
Fixtures & Fittings 10% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the period was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 12,336 17,361 29,697
Additions - 2,898 2,898
As at 31 December 2024 12,336 20,259 32,595
Depreciation
As at 1 July 2023 5,119 6,424 11,543
Provided during the period 2,402 611 3,013
As at 31 December 2024 7,521 7,035 14,556
Net Book Value
As at 31 December 2024 4,815 13,224 18,039
As at 1 July 2023 7,217 10,937 18,154
5. Debtors
31 December 2024 30 June 2023
£ £
Due within one year
Trade debtors 37,018 -
Prepayments and accrued income - 477
Director's loan account 3,944 2,635
40,962 3,112
6. Creditors: Amounts Falling Due Within One Year
31 December 2024 30 June 2023
£ £
Corporation tax 18,596 10,974
VAT 11,626 3,651
Other creditors - 2,100
30,222 16,725
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7. Share Capital
31 December 2024 30 June 2023
£ £
Allotted, Called up and fully paid 1 1
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2024
£ £ £ £ £
Mrs Jane Passingham (2,635 ) 21,862 28,441 - (3,944 )
The above loan is unsecured, interest free and repayable on demand. The loan was repaid in full within 9 months of the year end.
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