Company Registration No. 03956494 (England and Wales)
JEP INDUSTRIAL LIMITED
Unaudited accounts
for the year ended 28 February 2023
JEP INDUSTRIAL LIMITED
Unaudited accounts
Contents
JEP INDUSTRIAL LIMITED
Company Information
for the year ended 28 February 2023
Directors
William Glen Price
Steven William Price
Company Number
03956494 (England and Wales)
Registered Office
1 ORIENTAL ROAD
SILVERTOWN
LONDON
E16 2BZ
Accountants
ZIK Accountancy Services (London) Limited
85 Station Road
North Harrow
Harrow
HA2 7SW
JEP INDUSTRIAL LIMITED
Statement of financial position
as at 28 February 2023
Tangible assets
229,261
243,470
Cash at bank and in hand
114,303
91,312
Creditors: amounts falling due within one year
(149,487)
(129,372)
Net current assets
159,690
227,196
Total assets less current liabilities
388,951
470,666
Creditors: amounts falling due after more than one year
(124,797)
(156,042)
Provisions for liabilities
Deferred tax
(29,856)
(28,044)
Net assets
234,298
286,580
Called up share capital
100
100
Profit and loss account
234,198
286,480
Shareholders' funds
234,298
286,580
For the year ending 28 February 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by
Steven William Price
Director
Company Registration No. 03956494
JEP INDUSTRIAL LIMITED
Notes to the Accounts
for the year ended 28 February 2023
JEP INDUSTRIAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 03956494. The registered office is 1 ORIENTAL ROAD, SILVERTOWN, LONDON, E16 2BZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
20% Straight Line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
JEP INDUSTRIAL LIMITED
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2022
220,701
290,524
11,364
25,931
548,520
Additions
-
44,033
-
-
44,033
At 28 February 2023
220,701
334,557
11,364
25,931
592,553
At 1 March 2022
184,639
91,026
7,254
22,131
305,050
Charge for the year
4,809
51,500
860
1,073
58,242
At 28 February 2023
189,448
142,526
8,114
23,204
363,292
At 28 February 2023
31,253
192,031
3,250
2,727
229,261
At 28 February 2022
36,062
199,498
4,110
3,800
243,470
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
192,031
199,498
Amounts falling due within one year
Trade debtors
182,374
237,756
Other debtors
12,500
27,500
6
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
50,825
37,066
Trade creditors
21,944
34,169
Taxes and social security
19,997
29,031
Other creditors
7,557
7,826
Loans from directors
1,108
(7,041)
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
91,795
113,403
JEP INDUSTRIAL LIMITED
Notes to the Accounts
for the year ended 28 February 2023
8
Deferred taxation
2023
2022
Accelerated capital allowances
29,856
28,044
Provision at start of year
28,044
-
Charged to the profit and loss account
1,812
28,044
Provision at end of year
29,856
28,044
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 14 (2022: 14).
