Company registration number 10469563 (England and Wales)
J PLANT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
J PLANT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
J PLANT LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,076
4,076
Tangible assets
4
560,100
574,066
564,176
578,142
Current assets
Debtors
5
131,182
201,811
Cash at bank and in hand
40,940
7,381
172,122
209,192
Creditors: amounts falling due within one year
6
(440,804)
(435,311)
Net current liabilities
(268,682)
(226,119)
Total assets less current liabilities
295,494
352,023
Creditors: amounts falling due after more than one year
7
(121,426)
(151,365)
Provisions for liabilities
(27,389)
(33,547)
Net assets
146,679
167,111
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
146,579
167,011
Total equity
146,679
167,111
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 and signed by the director and authorised for issue on 18 August 2025
Mr J R Norvill
Director
Company Registration No. 10469563
J PLANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information
J Plant Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.
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
Turnover represents amounts receivable for services provided in the normal course of business net of VAT and trade discounts.
Revenue from the hire of machinery is recognised over the period of hire when, and to the extent that, the company obtains the right to consideration in exchange for services provided.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Other intangible assets
not amortised
1.4
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
20% straight line
Fixtures and fittings
20% reducing balance
Computers
33% reducing balance
Motor vehicles
25% reducing balance
J PLANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable 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.
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.
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
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
J PLANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
7
3
Intangible fixed assets
Other intangible assets
£
Cost
At 1 December 2023 and 30 November 2024
4,076
Amortisation and impairment
At 1 December 2023 and 30 November 2024
Carrying amount
At 30 November 2024
4,076
At 30 November 2023
4,076
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 December 2023
580,893
767
3,804
336,011
921,475
Additions
26,071
150,900
176,971
Disposals
(39,530)
(59,000)
(98,530)
At 30 November 2024
567,434
767
3,804
427,911
999,916
Depreciation and impairment
At 1 December 2023
224,422
333
2,733
119,921
347,409
Depreciation charged in the year
59,895
87
354
70,489
130,825
Eliminated in respect of disposals
(11,684)
(26,734)
(38,418)
At 30 November 2024
272,633
420
3,087
163,676
439,816
Carrying amount
At 30 November 2024
294,801
347
717
264,235
560,100
At 30 November 2023
356,471
434
1,071
216,090
574,066
J PLANT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
117,031
189,926
Other debtors
8,251
8,800
Prepayments and accrued income
5,900
3,085
131,182
201,811
6
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
104,991
110,109
Trade creditors
17,296
19,651
Taxation and social security
6,979
25,786
Other creditors
307,538
276,965
Accruals and deferred income
4,000
2,800
440,804
435,311
The hire purchase creditors are secured by fixed charges over the assets.
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
113,603
151,365
Government grants
7,823
121,426
151,365
The hire purchase creditors are secured by fixed charges over the assets.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100