J B H Associates Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02083195 (England and Wales)

Unaudited Financial Statements

For The Year Ended 28th February 2022

for

J B H Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

Janet Elizabeth Harrison

Jutta Erna Hadfield

Paul Harrison

SECRETARY:

Janet Elizabeth Harrison

REGISTERED OFFICE:

Unit 1 Pingry Business Park

Coleford

Gloucestershire

GL16 8QD

REGISTERED NUMBER:

02083195 (England and Wales)

ACCOUNTANTS:

Wildin and Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

4

128,884

103,569

CURRENT ASSETS

Stocks

5

30,700

28,050

Debtors

6

423,437

276,970

Cash at bank and in hand

300

300

454,437

305,320

CREDITORS

Amounts falling due within one year

7

377,073

219,571

NET CURRENT ASSETS

77,364

85,749

TOTAL ASSETS LESS CURRENT LIABILITIES

206,248

189,318

CREDITORS

Amounts falling due after more than one year

8

(133,161

)

(174,625

)

PROVISIONS FOR LIABILITIES

11

(6,865

)

(8,333

)

NET ASSETS

66,222

6,360

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

66,122

6,260

SHAREHOLDERS' FUNDS

66,222

6,360

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2022 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 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 and authorised for issue by the Board of Directors and authorised for issue on 20th October 2022 and were signed on its behalf by:

Janet Elizabeth Harrison - Director

1.	STATUTORY INFORMATION

J B H Associates 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.

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

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

Short leasehold

-

5% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2021 - 32 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1st March 2021

-

237,576

96,793

334,369

Additions

37,073

8,292

-

45,365

At 28th February 2022

37,073

245,868

96,793

379,734

DEPRECIATION

At 1st March 2021

-

178,200

52,600

230,800

Charge for year

-

9,024

11,026

20,050

At 28th February 2022

-

187,224

63,626

250,850

NET BOOK VALUE

At 28th February 2022

37,073

58,644

33,167

128,884

At 28th February 2021

-

59,376

44,193

103,569

5.

STOCKS

28.2.22

28.2.21

£

£

Stocks

30,700

28,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Trade Debtors

420,394

273,770

Tax

812

812

Prepayments

2,231

2,388

423,437

276,970

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans and overdrafts (see note 9)

119,885

19,386

Trade Creditors

78,147

52,461

Corporation Tax Payable

23,418

-

Social security and other taxes

20,347

12,176

VAT

131,776

131,923

Accruals

3,500

3,625

377,073

219,571

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans (see note 9)

62,568

79,221

Other loans (see note 9)

42,695

50,000

Hire purchase contracts

27,898

45,404

133,161

174,625

9.

LOANS

An analysis of the maturity of loans is given below:

28.2.22

28.2.21

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

119,885

19,386

Amounts falling due between one and two years:

Other loans - 1-2 years

42,695

50,000

Amounts falling due between two and five years:

Bank Loan Accounts

62,568

79,221

The company's overdraft is repayable upon demand but it is not anticipated that it will be withdrawn.

10.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.22

28.2.21

£

£

Bank overdrafts

119,885

19,386

The company's bankers have a fixed and floating charge over the assets of the company. The company factors it's debts and there is a charge over the book debts.

11.	PROVISIONS FOR LIABILITIES

28.2.22

28.2.21

£

£

Deferred tax

6,865

8,333

Deferred

tax

£

Balance at 1st March 2021

8,333

Credit to Income Statement during year

(1,468

)

Balance at 28th February 2022

6,865

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.22

28.2.21

value:

£

£

100

Ordinary

1

100

100

13.

RESERVES

Retained

earnings

£

At 1st March 2021

6,260

Profit for the year

96,062

Dividends

(36,200

)

At 28th February 2022

66,122

14.	RELATED PARTY DISCLOSURES

During the year, total dividends of £36,200 (2021 - £34,947) were paid to the directors .

15.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J B H Associates Limited for the year ended 28th February 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of J B H Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of J B H Associates Limited and state those matters that we have agreed to state to the Board of Directors of J B H Associates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J B H Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J B H Associates Limited. You consider that J B H Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J B H Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wildin and Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

Date: 20th October 2022