J B H Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02083195 (England and Wales)

Unaudited Financial Statements

For The Year Ended 28th February 2021

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 & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

FIXED ASSETS

Tangible assets

4

103,569

73,737

CURRENT ASSETS

Stocks

5

28,050

27,025

Debtors

6

276,970

360,729

Cash at bank and in hand

300

300

305,320

388,054

CREDITORS

Amounts falling due within one year

7

219,571

282,612

NET CURRENT ASSETS

85,749

105,442

TOTAL ASSETS LESS CURRENT LIABILITIES

189,318

179,179

CREDITORS

Amounts falling due after more than one year

8

(174,625

)

(121,888

)

PROVISIONS FOR LIABILITIES

11

(8,333

)

(10,001

)

NET ASSETS

6,360

47,290

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

6,260

47,190

SHAREHOLDERS' FUNDS

6,360

47,290

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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 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 10th November 2021 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.

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 32 (2020 - 39 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1st March 2020

232,429

89,046

321,475

Additions

5,147

42,996

48,143

Disposals

-

(35,249

)

(35,249

)

At 28th February 2021

237,576

96,793

334,369

DEPRECIATION

At 1st March 2020

167,722

80,016

247,738

Charge for year

10,478

5,186

15,664

Eliminated on disposal

-

(32,602

)

(32,602

)

At 28th February 2021

178,200

52,600

230,800

NET BOOK VALUE

At 28th February 2021

59,376

44,193

103,569

At 29th February 2020

64,707

9,030

73,737

5.

STOCKS

28.2.21

29.2.20

£

£

Stocks

28,050

27,025

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade Debtors

273,770

348,900

Tax

812

8,816

Prepayments

2,388

3,013

276,970

360,729

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Bank loans and overdrafts (see note 9)

19,386

120,223

Trade Creditors

52,461

63,487

Corporation Tax Payable

-

9,814

Social security and other taxes

12,176

9,363

VAT

131,923

58,826

Directors' current accounts

-

16,185

Accruals

3,625

4,714

219,571

282,612

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.21

29.2.20

£

£

Bank loans (see note 9)

79,221

95,028

Other loans (see note 9)

50,000

-

Hire purchase contracts

45,404

26,860

174,625

121,888

9.

LOANS

An analysis of the maturity of loans is given below:

28.2.21

29.2.20

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

19,386

120,223

Amounts falling due between one and two years:

Other loans - 1-2 years

50,000

-

Amounts falling due between two and five years:

Bank Loan Accounts

79,221

95,028

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:

28.2.21

29.2.20

£

£

Bank overdrafts

19,386

120,223

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

28.2.21

29.2.20

£

£

Deferred tax

8,333

10,001

Deferred

tax

£

Balance at 1st March 2020

10,001

Credit to Income Statement during year

(1,668

)

Balance at 28th February 2021

8,333

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.21

29.2.20

value:

£

£

100

Ordinary

1

100

100

13.

RESERVES

Retained

earnings

£

At 1st March 2020

47,190

Deficit for the year

(5,983

)

Dividends

(34,947

)

At 28th February 2021

6,260

14.	RELATED PARTY DISCLOSURES

During the year, total dividends of £34,947 (2020 - £16,000) 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 2021 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 loss 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 & Co

Accountants

& Statutory Auditors

Kings Buildings

Lydney

Gloucestershire

GL15 5HE

Date: 10th November 2021