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Company Registration No. 11179218 (England and Wales)
J P Lofts Limited Unaudited accounts for the year ended 31 March 2025
J P Lofts Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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J P Lofts Limited Company Information for the year ended 31 March 2025
Director
Joshua Paul Norgate
Company Number
11179218 (England and Wales)
Registered Office
81 King Street Manchester Greater Manchester M2 4AH United Kingdom
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J P Lofts Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Intangible assets
4
67,553
4,123
Tangible assets
5
83,224
10,202
150,777
14,325
Current assets
Inventories
6
14,995
-
Debtors
7
44,607
12,077
Cash at bank and in hand
58,312
26,629
117,914
38,706
Creditors: amounts falling due within one year
8
(153,678)
(52,199)
Net current liabilities
(35,764)
(13,493)
Total assets less current liabilities
115,013
832
Creditors: amounts falling due after more than one year
9
(30,810)
-
Net assets
84,203
832
Capital and reserves
Called up share capital
10
100
100
Profit and loss account
84,103
732
Shareholders' funds
84,203
832
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2025 and were signed on its behalf by
Joshua Paul Norgate Director Company Registration No. 11179218
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J P Lofts Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
J P Lofts Limited is a private company, limited by shares, registered in England and Wales, registration number 11179218. The registered office is 81 King Street, Manchester, Greater Manchester, M2 4AH, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Interest
Interest income is recognised in profit or loss using the effective interest method.
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation. Amortisation has been provided using the straight line method at the following rates in order to write off the assets over their estimated useful lives: - Goodwill 25%
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25%
Motor vehicles
25%
Fixtures & fittings
25%
Computer equipment
33%
Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined on a FIFO basis.
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J P Lofts Limited Notes to the Accounts for the year ended 31 March 2025
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivables are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Employee Benefits
Short-term employee benefits, including holiday pay, are recognised as expenses as services are rendered. Contributions to defined contribution pension schemes are charged to profit or loss when due.
Pension costs
The company operates a defined contribution plan for its employees. A defined contribution plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024
31,550
Additions
67,326
At 31 March 2025
98,876
Amortisation
At 1 April 2024
27,427
Charge for the year
3,896
At 31 March 2025
31,323
Net book value
At 31 March 2025
67,553
At 31 March 2024
4,123
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J P Lofts Limited Notes to the Accounts for the year ended 31 March 2025
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2024
-
4,806
33,597
1,693
2,264
42,360
Additions
5,592
-
73,695
994
833
81,114
At 31 March 2025
5,592
4,806
107,292
2,687
3,097
123,474
Depreciation
At 1 April 2024
-
4,354
24,388
1,235
2,181
32,158
Charge for the year
-
452
7,111
384
145
8,092
At 31 March 2025
-
4,806
31,499
1,619
2,326
40,250
Net book value
At 31 March 2025
5,592
-
75,793
1,068
771
83,224
At 31 March 2024
-
452
9,209
458
83
10,202
6
Inventories
2025
2024
£
£
Finished goods
14,995
-
14,995
-
Inventories are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined on a FIFO basis.
7
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
21,368
964
Trade debtors
9,911
996
Accrued income and prepayments
11,144
17
Other debtors
2,184
10,100
44,607
12,077
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
4,894
8,976
Trade creditors
70,512
8,065
Taxes and social security
46,235
215
Other creditors
32,037
34,943
153,678
52,199
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
30,810
-
- 7 -
J P Lofts Limited Notes to the Accounts for the year ended 31 March 2025
10
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Pension commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
12
Average number of employees
During the year the average number of employees was 9 (2024: 0).
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