Registered number
08378015
J P Traders Ltd
Filleted Accounts
31 March 2025
J P Traders Ltd
Registered number: 08378015
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 156,298 170,118
Tangible assets 4 32,023 37,169
188,321 207,287
Current assets
Stocks 245,255 240,365
Debtors 5 246,543 328,658
Cash at bank and in hand 104,146 95,625
595,944 664,648
Creditors: amounts falling due within one year 6 (203,199) (255,836)
Net current assets 392,745 408,812
Total assets less current liabilities 581,066 616,099
Creditors: amounts falling due after more than one year 7 (246,456) (249,314)
Net assets 334,610 366,785
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 333,610 365,785
Shareholders' funds 334,610 366,785
The directors are 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 directors acknowledge their 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.
T Prabaharan
Director
Approved by the board on 8 August 2025
J P Traders Ltd
Notes to the Accounts
for the year ended 31 March 2025
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over the lease term
Plant and machinery 15% reducing balance
Fixtures, fittings, tools and equipment 15% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 30 30
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 345,500
At 31 March 2025 345,500
Amortisation
At 1 April 2024 175,382
Provided during the year 13,820
At 31 March 2025 189,202
Net book value
At 31 March 2025 156,298
At 31 March 2024 170,118
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 2,867 115,358 41,743 159,968
At 31 March 2025 2,867 115,358 41,743 159,968
Depreciation
At 1 April 2024 - 102,906 19,893 122,799
Charge for the year - 1,868 3,278 5,146
At 31 March 2025 - 104,774 23,171 127,945
Net book value
At 31 March 2025 2,867 10,584 18,572 32,023
At 31 March 2024 2,867 12,452 21,850 37,169
5 Debtors 2025 2024
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 220,000 301,416
Other debtors 26,543 27,242
246,543 328,658
6 Creditors: amounts falling due within one year 2025 2024
£ £
Bank loans and overdrafts 98,921 163,198
Trade creditors 50,402 45,873
Taxation and social security costs 34,783 24,128
Other creditors 19,093 22,637
203,199 255,836
7 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 50,320 71,402
Other creditors 196,136 177,912
246,456 249,314
8 Other information
J P Traders Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Northwood Road
Harefield, Uxbridge
Middlesex
England
UB9 6PL
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