Registered number
10952683
JST Business Innovations Ltd
Filleted Accounts
30 September 2024
JST Business Innovations Ltd
Registered number: 10952683
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 26,486 20,800
Current assets
Stocks 22,250 25,500
Debtors 4 - 710
Cash at bank and in hand 2,212 2,243
24,462 28,453
Creditors: amounts falling due within one year 5 (3,433) (2,008)
Net current assets 21,029 26,445
Total assets less current liabilities 47,515 47,245
Creditors: amounts falling due after more than one year 6 (11,528) (14,242)
Net assets 35,987 33,003
Capital and reserves
Called up share capital 32,000 32,000
Profit and loss account 3,987 1,003
Shareholders' funds 35,987 33,003
The director is 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 director acknowledges his 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.
Tijo Francis
Director
Approved by the board on 29 May 2025
JST Business Innovations Ltd
Notes to the Accounts
for the year ended 30 September 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 18% reducing balance method
Fixtures, fittings, tools and equipment 18% reducing balance method
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023 20,800
Additions 11,500
At 30 September 2024 32,300
Depreciation
Charge for the year 5,814
At 30 September 2024 5,814
Net book value
At 30 September 2024 26,486
At 30 September 2023 20,800
4 Debtors 2024 2023
£ £
Other debtors - 710
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,998 1,998
Taxation and social security costs 1,435 10
3,433 2,008
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,334 6,934
Obligations under finance lease and hire purchase contracts 6,904 -
Other creditors 290 7,308
11,528 14,242
7 Other information
JST Business Innovations Ltd is a private company limited by shares and incorporated in England. Its registered office is:
204 White Lane
Sheffield
S12 3GL
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