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Registration number: SC379060

JTR Fitting Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

JTR Fitting Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

Accountants' Report

9

 

JTR Fitting Ltd

Company Information

Director

Mr Jamie Tarleton Reid

Registered office

Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
Stirlingshire
FK3 8WX

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

JTR Fitting Ltd

(Registration number: SC379060)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

29,902

37,780

Current assets

 

Stocks

5

19,996

10,739

Debtors

6

106,037

13,583

Cash at bank and in hand

 

56,623

101,223

 

182,656

125,545

Creditors: Amounts falling due within one year

7

(172,667)

(94,613)

Net current assets

 

9,989

30,932

Total assets less current liabilities

 

39,891

68,712

Creditors: Amounts falling due after more than one year

7

(32,554)

(58,031)

Provisions for liabilities

(6,579)

(8,312)

Net assets

 

758

2,369

Capital and reserves

 

Called up share capital

100

100

Retained earnings

658

2,269

Shareholders' funds

 

758

2,369

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 July 2025
 

.........................................
Mr Jamie Tarleton Reid
Director

 

JTR Fitting Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

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.

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.

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.

 

JTR Fitting Ltd

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

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% on reducing balance

Computer equipment

33% on cost

Plant and machinery

20% on reducing balance

Fixtures and fittings

20% on reducing balance

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.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

3

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 1).

 

JTR Fitting Ltd

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

3,850

1,343

2,909

42,044

Additions

1,142

413

1,813

-

At 31 March 2025

4,992

1,756

4,722

42,044

Depreciation

At 1 April 2024

770

384

1,471

10,511

Charge for the year

845

274

1,473

7,884

At 31 March 2025

1,615

658

2,944

18,395

Carrying amount

At 31 March 2025

3,377

1,098

1,778

23,649

At 31 March 2024

3,080

959

2,208

31,533

Total
£

Cost or valuation

At 1 April 2024

50,146

Additions

3,368

At 31 March 2025

53,514

Depreciation

At 1 April 2024

13,136

Charge for the year

10,476

At 31 March 2025

23,612

Carrying amount

At 31 March 2025

29,902

At 31 March 2024

37,780

5

Stocks

2025
£

2024
£

Other inventories

19,996

10,739

 

JTR Fitting Ltd

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

6

Debtors

Current

2025
£

2024
£

Trade debtors

383

5,659

Other debtors

105,654

7,924

 

106,037

13,583

 

JTR Fitting Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

29,467

28,909

Trade creditors

 

46,731

23,300

Taxation and social security

 

37,968

42,404

Other creditors

 

58,501

-

 

172,667

94,613

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

32,554

58,031

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

2,437

12,620

Hire purchase contracts

11,922

17,898

Other borrowings

18,195

27,513

32,554

58,031

Current loans and borrowings

2025
£

2024
£

Bank borrowings

10,654

10,654

Hire purchase contracts

5,501

4,943

Other borrowings

13,312

13,312

29,467

28,909

9

Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
 

 

JTR Fitting Ltd

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

2025
 £

2024
 £

Within one year

11,690

13,440

Between one and five years

39,154

49,385

Over five years

33,542

50,750

84,386

113,575

10

Related party transactions

Transactions with directors

Debtors include the following amounts which are owed from individuals who were directors of the company during the year:

2025

At 1 April 2024
£

Advances to director
£

At 31 March 2025
£

Mr Jamie Tarleton Reid

Loan

7,903

71,091

78,994

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
JTR Fitting Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JTR Fitting Ltd for the year ended 31 March 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of JTR Fitting Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JTR Fitting Ltd and state those matters that we have agreed to state to the Board of Directors of JTR Fitting Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JTR Fitting Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JTR Fitting Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of JTR Fitting Ltd. You consider that JTR Fitting Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of JTR Fitting Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

9 July 2025