| Registered number: 06769413 | ||||||||
| FOR THE YEAR ENDED 31/12/2024 | ||||||||
| Prepared By: | ||||||||
| Laurence Myears | ||||||||
| Chartered Accountants | ||||||||
| 6 Beechcroft Road | ||||||||
| Longlevens | ||||||||
| Gloucester | ||||||||
| Gloucestershire | ||||||||
| GL2 9HF | ||||||||
| JRS ELECTRICAL LIMITED | ||||||||
| ACCOUNTS | ||||||||
| FOR THEYEARENDED31/12/2024 | ||||||||
| CONTENTS | ||||||||
| Page | ||||||||
| Balance Sheet | 2 | |||||||
| Notes To The Accounts | 3 to 6 | |||||||
| JRS ELECTRICAL LIMITED | ||||||||
| BALANCE SHEET AT | ||||||||||
| 2024 | 2023 | |||||||||
| Notes | £ | £ | ||||||||
| FIXED ASSETS | ||||||||||
| Tangible assets | 2 | |||||||||
| CURRENT ASSETS | ||||||||||
| Stock | ||||||||||
| Debtors | 4 | |||||||||
| Cash at bank and in hand | ||||||||||
| 13,021 | 23,025 | |||||||||
| CREDITORS: Amounts falling due within one year | 5 | |||||||||
| NET CURRENT LIABILITIES | ( | (5,864) | ||||||||
| TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
| PROVISIONS FOR LIABILITIES AND CHARGES | 7 | |||||||||
| NET ASSETS | ||||||||||
| CAPITAL AND RESERVES | ||||||||||
| Called up share capital | ||||||||||
| Profit and loss account | 3,186 | 5,117 | ||||||||
| SHAREHOLDERS' FUNDS | ||||||||||
| Approved by the board on | ||||||||||
| ............................. | ||||||||||
| Director | ||||||||||
| JRS ELECTRICAL LIMITED | ||||||||
| NOTES TO THE ACCOUNTS | ||||||||||
| FOR THE YEAR ENDED 31/12/2024 | ||||||||||
| 1. ACCOUNTING POLICIES |
| 1a. Basis Of Accounting | ||||||||
| The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below. These accounts have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. | ||||||||
| 1b. Tangible fixed assets | ||||||||
| Plant and Machinery | reducing balance 20% | |||||||
| Commercial Vehicles | reducing balance 17.5%, 25% | |||||||
| Equipment | reducing balance 20% | |||||||
| 1c. Stocks | ||||||||
| Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. In respect of work in progress, cost includes all direct costs of production and the appropriate proportion of production overheads. | ||||||||
| 1d. Pension Costs | ||||||||
| The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. | ||||||||
| 1e. Taxation | ||||||||
| Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the accounts and the corresponding tax bases used in the computation of taxable profit. The carrying value of any 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 substantially enacted by the end of the reporting period. | ||||||||
| JRS ELECTRICAL LIMITED | ||||||||
| 1f. Revenue recognition | ||||||||
| Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for customer returns. Revenue is recognised when goods and services have been delivered and legal title has passed. | ||||||||
| 1g. Leasing And Hire Purchase Contracts | ||||||||
| Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. | ||||||||
| Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis. | ||||||||
| 2. TANGIBLE FIXED ASSETS | ||||||||
| Plant and | Commercial | |||||||
| Machinery | Vehicles | Equipment | Total | |||||
| £ | £ | £ | £ | |||||
| Cost | ||||||||
| At 01/01/2024 | 2,885 | 33,800 | 1,038 | 37,723 | ||||
| At 31/12/2024 | 2,885 | 33,800 | 1,038 | 37,723 | ||||
| Depreciation | ||||||||
| At 01/01/2024 | 1,736 | 22,632 | 446 | 24,814 | ||||
| For the year | 230 | 550 | 119 | 899 | ||||
| At 31/12/2024 | 1,966 | 23,182 | 565 | 25,713 | ||||
| Net Book Amounts | ||||||||
| At 31/12/2024 | 919 | 10,618 | 473 | 12,010 | ||||
| At 31/12/2023 | 1,149 | 11,168 | 592 | 12,909 | ||||
| 3. STOCK | 2024 | 2023 | ||||
| £ | £ | |||||
| Stock comprises: | ||||||
| Stock | ||||||
| JRS ELECTRICAL LIMITED | ||||||||
| 4. DEBTORS | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Amounts falling due within one year | ||||||||
| Trade debtors | 2,539 | 2,155 | ||||||
| Prepayments | 857 | - | ||||||
| Accrued income | - | 786 | ||||||
| 3,396 | 2,941 | |||||||
| 5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
| 2024 | 2023 | |||||||
| £ | £ | |||||||
| UK corporation tax | 8,603 | 8,721 | ||||||
| VAT | 6,326 | 5,467 | ||||||
| PAYE control | 1,203 | 1,012 | ||||||
| Trade creditors | 1,380 | 10,377 | ||||||
| Other creditors | 590 | 606 | ||||||
| Accruals | 1,986 | 2,706 | ||||||
| 20,088 | 28,889 | |||||||
| 6. EMPLOYEES | ||||||
| 2024 | 2023 | |||||
| No. | No. | |||||
| Average number of employees | 2 | |||||
| 7. PROVISIONS FOR LIABILITIES | 2024 | 2023 | ||||||
| £ | £ | |||||||
| Deferred taxation | 757 | 928 | ||||||
| 757 | 928 | |||||||
| JRS ELECTRICAL LIMITED | ||||||||
| 8. PENSION COMMITMENTS | ||||||||
| The company operates a defined contribution pension scheme through Nest Pensions for eligible directors and employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the balance sheet date, unpaid contributions of £114 (2023 £130) were due to the fund. They are included in other creditors. | ||||||||
| 9. LEASE COMMITMENTS | ||||||||
| At 31 December 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £2,310 (2023 £2,310). | ||||||||
| 10. GENERAL INFORMATION | ||||||||
| JRS Electrical Limited is a private company limited by shares and incorporated in England. Its registered office is Unit 4 Tudor Yard, Lawnside Road, Ledbury, Herefordshire HR8 2BZ. | ||||||||
| The accounts are presented in Sterling, which is the functional currency of the company. | ||||||||