JGP Resourcing Limited
JGP Resourcing Limited
Registered number: 07750971
Unaudited Financial Statements
For The Year Ended
30 April 2023
JGP Resourcing Limited
Unaudited Financial Statements
For The Year Ended
30 April 2023
Unaudited Financial Statements
Contents | |
Page | |
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Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—6 |
JGP Resourcing Limited
Balance Sheet
As At
30 April 2023
Balance Sheet
Registered number:
07750971
For the year ending 30 April 2023 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
2023 | 2022 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Intangible Assets | 4 |
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Tangible Assets | 5 |
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CURRENT ASSETS | |||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 7 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 8 |
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Profit and Loss Account |
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SHAREHOLDERS' FUNDS | 1,151,642 | 788,872 | |||
JGP Resourcing Limited
Balance Sheet (continued)
As At
30 April 2023
On behalf of the board
Director
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The notes on pages 3 to 6 form part of these financial statements.
JGP Resourcing Limited
Notes to the Financial Statements
For The Year Ended
30 April 2023
Notes to the Financial Statements
1.
General Information
JGP Resourcing Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
07750971
. The registered office is Unit 205, Cervantes House, 5-9 Headstone Road, Harrow, HA1 1PD. The company's principal place of business is 7 Hill Road, Haslemere, GU27 2JP.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the income can be reliably measured. Income is measurred as the fair value of the consideration recaivable, excluding discounts, rebates and value added tax.
Income is normally received in advance and is recognised as income over the period to which it relates. Any unexpired amount at the year end is carried forward in the balance sheet as deferred income.
2.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the total amount paid to acquire a business in 2011. It has now been fully amortised.
2.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to costs incurred for bespoke products developed by the company to service its customers and are being amortised over four years.
2.5.
Research and Development
Research expenditure is charged to the profit and loss account in the period in which it is incurred.
Development expenditure is charged to the profit and loss account as incurred, except when the following criteria are met, when it is deferred and carried forward in the balance sheet. The conditions are:
- there is a clearly defined project
- expenditure is separately identifiable
- the project is commercially viable
- the project is technically feasible
- project income is expected to outweigh cost
- resources are available to complete the project.
Development costs are amortised evenly over their estimated useful life of four years.
2.6.
Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold |
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Plant & Machinery |
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Fixtures & Fittings |
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Computer Equipment |
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2.7.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.
Short term debtors and creditors are measured at transaction price, less any impairment.
JGP Resourcing Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2023
2.8.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.9.
Pensions
The Company makes payments into employees' defined contribution plans. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as expenses in the Income Statement when they fall due. Amounts not paid are shown as a liability in the Balance Sheet.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 22 (2022: 19)
4.
Intangible Assets
Goodwill | Other Intangible Assets | Total | |
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Cost | |||
As at
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Additions |
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As at
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Amortisation | |||
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Provided during the period |
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As at
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Net Book Value | |||
As at
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As at
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JGP Resourcing Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2023
5.
Tangible Assets
Land & Buildings | Plant & Machinery etc. | Total | |
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£ | £ | £ | |
Cost | |||
As at
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Additions |
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Disposals |
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As at
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Depreciation | |||
As at
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Provided during the period |
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Disposals |
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As at
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Net Book Value | |||
As at
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As at
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6.
Debtors
2023 | 2022 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors | 599,607 | 552,214 | |
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7.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
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£ | £ | ||
Trade creditors |
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Other creditors | 667,399 | 674,628 | |
Taxation and social security |
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JGP Resourcing Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2023
9.
Other Commitments
Hire purchase and leasing commitments
At 30 April 2023, the company had total commitments under non-cancellable operating leases over the remaining lives of those leases of £36,661.01 (2022: £56,398.97).
2023 | 2022 | ||
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£ | £ | ||
Not later than one year |
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Later than one year and not later than five years |
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10.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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£ | £ | £ | £ | £ | |
Mr David Marshall |
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Mrs Helen Marshall |
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The above loans are unsecured and repayable on demand. Interest equal to HMRC official rate is charged on outstanding amounts.
11.
Controlling Party
Mr and Mrs Marshall control the company.