Company registration number 07984655 (England and Wales)
JLS ELECTRICAL SERVICES (WALES) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
JLS ELECTRICAL SERVICES (WALES) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
JLS ELECTRICAL SERVICES (WALES) LTD
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
37,322
21,349
Current assets
Stocks
51,500
78,984
Debtors
4
435,387
289,822
Cash at bank and in hand
172,669
-
0
659,556
368,806
Creditors: amounts falling due within one year
5
(497,820)
(364,966)
Net current assets
161,736
3,840
Total assets less current liabilities
199,058
25,189
Creditors: amounts falling due after more than one year
6
(18,607)
(15,000)
Provisions for liabilities
(9,331)
(5,337)
Net assets
171,120
4,852
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
170,920
4,652
Total equity
171,120
4,852

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 14 August 2025 and are signed on its behalf by:
Mr J Barnes
Director
Company Registration No. 07984655
JLS ELECTRICAL SERVICES (WALES) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

JLS Electrical Services (Wales) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 9, Llantrisant Business Park, Llantrisant, Pontyclun, CF72 8LF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line
Motor vehicles
25% reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Financial instruments

Debtors and creditors with no stated interest rate and recoverable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

JLS ELECTRICAL SERVICES (WALES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
22
19
JLS ELECTRICAL SERVICES (WALES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
4,035
864
4,579
49,412
58,890
Additions
-
0
-
0
-
0
25,294
25,294
At 31 March 2025
4,035
864
4,579
74,706
84,184
Depreciation and impairment
At 1 April 2024
3,029
864
3,611
30,037
37,541
Depreciation charged in the year
777
-
0
469
8,075
9,321
At 31 March 2025
3,806
864
4,080
38,112
46,862
Carrying amount
At 31 March 2025
229
-
0
499
36,594
37,322
At 31 March 2024
1,006
-
0
968
19,375
21,349
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
322,085
201,573
Other debtors
113,302
88,249
435,387
289,822
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
18,333
32,562
Trade creditors
327,893
236,555
Corporation tax
88,079
11,456
Other taxation and social security
19,125
14,269
Other creditors
44,390
70,124
497,820
364,966

Included in other creditors above are amounts totalling £4,227, in relation to hire purchase agreements. These are secured by a fixed charge over the assets to which they relate.

JLS ELECTRICAL SERVICES (WALES) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
14,028
15,000
Other creditors
4,579
-
0
18,607
15,000

Included in other creditors above are amounts totalling £4,579, in relation to hire purchase agreements. These are secured by a fixed charge over the assets to which they relate.

7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A Shares of £1 each
98
98
98
98
Ordinary B Shares of £1 each
102
102
102
102
200
200
200
200
8
Directors' transactions

Dividends totalling £107,194 (2024 - £66,600) were paid in the year in respect of shares held by the company's directors.

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors
-
26,972
83,390
(110,903)
(541)
26,972
83,390
(110,903)
(541)
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