J C Electric Limited - Accounts to registrar (filleted) - small 18.2

J C Electric Limited - Accounts to registrar (filleted) - small 18.2

J C ELECTRIC LIMITED - Company Information

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REGISTERED NUMBER: 06448390 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

J C ELECTRIC LIMITED
J C ELECTRIC LIMITED (REGISTERED NUMBER: 06448390)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J C ELECTRIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTORS: John Ciaburro
Joyce Margaretta Ciaburro
James Ciaburro





SECRETARY: Joyce Margaretta Ciaburro





REGISTERED OFFICE: Unit 4A
Garth Drive
Brackla Industrial Esate
Bridgend
CF31 2AQ





REGISTERED NUMBER: 06448390 (England and Wales)





ACCOUNTANTS: Graham Paul Limited
Court House
Court Road
Bridgend
CF31 1BE
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J C ELECTRIC LIMITED (REGISTERED NUMBER: 06448390)

BALANCE SHEET
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,284 18,364

CURRENT ASSETS
Stocks 84,300 10,100
Debtors 5 29,517 5,631
Cash at bank 10,181 15,893
123,998 31,624
CREDITORS
Amounts falling due within one year 6 122,182 45,310
NET CURRENT ASSETS/(LIABILITIES) 1,816 (13,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
17,100
4,678

PROVISIONS FOR LIABILITIES 2,904 3,489
NET ASSETS 14,196 1,189

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 13,196 189
SHAREHOLDERS' FUNDS 14,196 1,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

The notes form part of these financial statements

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J C ELECTRIC LIMITED (REGISTERED NUMBER: 06448390)

BALANCE SHEET - continued
31 DECEMBER 2021


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 23 August 2022 and were signed on its behalf by:





John Ciaburro - Director


The notes form part of these financial statements

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J C ELECTRIC LIMITED (REGISTERED NUMBER: 06448390)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

J C Electric Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, plus any costs directly attributable to bringing the asset to its working condition for intended use.

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc- 20% on reducing balance

Government grants
The company was in receipt of a grant during the year which is recognised on the performance model basis.

Grants that do not impose specified future performance-related conditions are recognised as income when the grant proceeds are received or receivable.

Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met.

Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

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

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 balance sheet date.


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J C ELECTRIC LIMITED (REGISTERED NUMBER: 06448390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2021 63,903
Additions 741
At 31 December 2021 64,644
DEPRECIATION
At 1 January 2021 45,539
Charge for year 3,821
At 31 December 2021 49,360
NET BOOK VALUE
At 31 December 2021 15,284
At 31 December 2020 18,364

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 2,665 -
Other debtors 26,852 5,631
29,517 5,631

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J C ELECTRIC LIMITED (REGISTERED NUMBER: 06448390)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 8,523 13,641
Taxation and social security 4,988 2,441
Other creditors 108,671 29,228
122,182 45,310

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020:

2021 2020
£    £   
James Ciaburro
Balance outstanding at start of year - -
Amounts advanced 9,458 -
Amounts repaid (2,398 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 7,060 -

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