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REGISTERED NUMBER: 02690680 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28 February 2025

for

JGB Engineering Ltd

JGB Engineering Ltd (Registered number: 02690680)

Contents of the Financial Statements
for the Year Ended 28 February 2025










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JGB Engineering Ltd

Company Information
for the Year Ended 28 February 2025







DIRECTORS: J P Evans
A G Evans
L J Phelps
A J Price



REGISTERED OFFICE: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
GL3 3RS



REGISTERED NUMBER: 02690680 (England and Wales)



ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS



BANKERS: HSBC Plc
The Cross
Gloucester
GL1 2AP

JGB Engineering Ltd (Registered number: 02690680)

Statement of Financial Position
28 February 2025

28/2/25 29/2/24
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 293,958 296,667

CURRENT ASSETS
Stocks 590,118 294,525
Debtors 5 838,363 695,846
Cash at bank and in hand 940,464 662,604
2,368,945 1,652,975
CREDITORS
Amounts falling due within one year 6 1,919,843 1,174,073
NET CURRENT ASSETS 449,102 478,902
TOTAL ASSETS LESS CURRENT
LIABILITIES

743,060

775,569

CREDITORS
Amounts falling due after more than one
year

7

(59,157

)

(110,868

)

PROVISIONS FOR LIABILITIES (68,882 ) (69,074 )
NET ASSETS 615,021 595,627

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 615,019 595,625
SHAREHOLDERS' FUNDS 615,021 595,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JGB Engineering Ltd (Registered number: 02690680)

Statement of Financial Position - continued
28 February 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 July 2025 and were signed on its behalf by:





A J Price - Director


JGB Engineering Ltd (Registered number: 02690680)

Notes to the Financial Statements
for the Year Ended 28 February 2025


1. STATUTORY INFORMATION

JGB Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sales of goods and services to customers.

The company recognises revenue from the rendering of services in the period which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliability;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Over the lease term
Plant and machinery - 10% on cost
Motor vehicles - 20% on cost
Computer equipment - 10% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


JGB Engineering Ltd (Registered number: 02690680)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 24 ) .

4. TANGIBLE FIXED ASSETS
Short Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 March 2024 16,650 437,506 92,729 31,942 578,827
Additions - - 30,491 9,655 40,146
Disposals - (265 ) - (3,907 ) (4,172 )
At 28 February 2025 16,650 437,241 123,220 37,690 614,801
Depreciation
At 1 March 2024 16,650 174,227 78,429 12,854 282,160
Charge for year - 33,773 4,758 3,193 41,724
Eliminated on disposal - (265 ) - (2,776 ) (3,041 )
At 28 February 2025 16,650 207,735 83,187 13,271 320,843
Net book value
At 28 February 2025 - 229,506 40,033 24,419 293,958
At 29 February 2024 - 263,279 14,300 19,088 296,667

JGB Engineering Ltd (Registered number: 02690680)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
Cost
At 1 March 2024
and 28 February 2025 259,226
Depreciation
At 1 March 2024 51,987
Charge for year 25,922
At 28 February 2025 77,909
Net book value
At 28 February 2025 181,317
At 29 February 2024 207,239

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/25 29/2/24
£    £   
Trade debtors 786,578 620,157
Amounts owed by group undertakings 42 42
Other debtors 51,743 75,647
838,363 695,846

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/25 29/2/24
£    £   
Hire purchase contracts (see note 8) 51,710 48,858
Trade creditors 297,123 238,277
Amounts owed to group undertakings 1,150,002 531,607
Taxation and social security 368,594 252,819
Other creditors 52,414 102,512
1,919,843 1,174,073

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/25 29/2/24
£    £   
Hire purchase contracts (see note 8) 59,157 110,868

JGB Engineering Ltd (Registered number: 02690680)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2025


8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
28/2/25 29/2/24
£    £   
Net obligations repayable:
Within one year 51,710 48,858
Between one and five years 59,157 110,868
110,867 159,726

Non-cancellable operating leases
28/2/25 29/2/24
£    £   
Within one year 71,920 88,120
Between one and five years 41,953 113,873
113,873 201,993

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

28/2/25 29/2/24
£    £   
L J Phelps
Balance outstanding at start of year 13,855 17,606
Amounts advanced - 574
Amounts repaid (3,112 ) (4,325 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,743 13,855

The above loan to the director is interest free with no fixed repayment terms.

10. RELATED PARTY DISCLOSURES

EPP Holdings Ltd
Parent company

At 28 February 2025, the company owed EPP Holdings Ltd £1,150,002 (2024 - £531,607). The balance is interest free with no fixed repayment terms.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by EPP Holdings Ltd, a company jointly controlled by the directors of JGB Engineering Ltd. EPP Holdings Ltd which shares the same registered office as JGB Engineering Ltd, has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.