J.P.B. Electrical Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05175778 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2021

for

J.P.B. Electrical Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Benson

Mrs S Benson

SECRETARY:

Mr J Benson

REGISTERED OFFICE:

Broom House

39/43 London Road

Hadleigh

Benfleet

Essex

SS7 2QL

REGISTERED NUMBER:

05175778 (England and Wales)

ACCOUNTANTS:

BPSL

Brooms Professional Services Limited

Chartered Certified Accountants

Broom House

39/43 London Road

Hadleigh, Benfleet

Essex

SS7 2QL

FIXED ASSETS

Tangible assets

4

7,284

9,062

Investment property

5

777,000

777,000

784,284

786,062

CURRENT ASSETS

Stocks

6

3,870

4,150

Debtors

7

64,164

40,149

Cash at bank

257,662

323,060

325,696

367,359

CREDITORS

Amounts falling due within one year

8

40,562

83,637

NET CURRENT ASSETS

285,134

283,722

TOTAL ASSETS LESS CURRENT LIABILITIES

1,069,418

1,069,784

PROVISIONS FOR LIABILITIES

15,302

15,302

NET ASSETS

1,054,116

1,054,482

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

9

65,235

-

Retained earnings

988,879

1,054,480

SHAREHOLDERS' FUNDS

1,054,116

1,054,482

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 by the Board of Directors and authorised for issue on 8 March 2022 and were signed on its behalf by:

Mr J Benson - Director

1.	STATUTORY INFORMATION

J.P.B. Electrical 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 as modified by the revaluation of certain assets.

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.

Plant and machinery

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 1 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2020

25,059

625

6,702

32,386

Additions

-

-

649

649

At 31 July 2021

25,059

625

7,351

33,035

DEPRECIATION

At 1 August 2020

19,577

427

3,320

23,324

Charge for year

1,370

50

1,007

2,427

At 31 July 2021

20,947

477

4,327

25,751

NET BOOK VALUE

At 31 July 2021

4,112

148

3,024

7,284

At 31 July 2020

5,482

198

3,382

9,062

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2020

and 31 July 2021

777,000

NET BOOK VALUE

At 31 July 2021

777,000

At 31 July 2020

777,000

Fair value at 31 July 2021 is represented by:

£

Valuation in 2021

777,000

6.

STOCKS

31.7.21

31.7.20

£

£

Stock and Work in Progress

3,870

4,150

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

64,164

40,149

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade creditors

1,334

10,548

Tax

19,090

51,300

Social security and other taxes

1,166

167

VAT

4,570

8,304

Directors' current accounts

11,652

10,568

Accruals and deferred income

2,750

2,750

40,562

83,637

9.

RESERVES

Fair

value

reserve

£

movement

65,235

At 31 July 2021

65,235