J. T. ELECTRICAL CONTRACTORS LTD. - Abbreviated accounts

J. T. ELECTRICAL CONTRACTORS LTD. - Abbreviated accounts

J T ELECTRICAL CONTRACTORS LTD. - Company Information

Print Friendly Version

Registered Number:
05313829
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended
31 March 2014
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Balance Sheet
NOTES 2014 2013
£ £ £ £ £ £
Non-current Assets
Tangible Assets 2 2,569 2,024
2,569 2,024
Current Assets
Trade Debtors 16,100 37,370
Bank & Cash in hand 23,006 13,614
Prepayments 3 - 300
Other Debtors 4 2,916 1,522
42,022 52,806
Liabilities : Amounts falling due within one year
Trade Creditors 3,834 2,588
Other Creditors 5 20,073 24,277
Accruals 6 830 1,317
24,737 28,182
Net Current Assets 17,285 24,624
Liabilities : Amounts falling due over one year
Directors Loan 1,999 4,082
1,999 4,082
Provisions for Liabilities & Charges
Deferred Taxation 58 -
58 -
TOTAL NET ASSETS 17,797 22,567
Capital
Ordinary Shares 2 2
Reserves 22,565 25,180
Profit & Loss Account - 4,769 - 2,615
Shareholder's Funds 17,797 22,567
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Balance Sheet (Continued...)
For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
Members have not required the company to obtain an audit in accordance with section 476 of the act.
The directors acknowledge their responsibilities for:

(a) ensuring that the company keeps accounting records which comply with section 386 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller entities (effective April 2008)
ON BEHALF OF THE BOARD:
K. Jarram
Director
Approved Date: 12/12/2014
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Notes to the Accounts
1 ACCOUNTING POLICIES
Accounting Convention
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Compliance with Accounting Standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and have been applied consistently (except otherwise stated).
Turnover
The turnover shown in the net profit and loss account represents the amounts invoiced during the period, net of VAT.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that assets as follows;
Goodwill - 5 Year Straight Line
Depreciation
Depreciation is calculated so as to write off the cost of an asset over the useful economic life of that asset as follows;
Plant & Machinery - 4 Year Straight Line
Office Equipment - 2 Year Straight Line
Motor Vehicles - 5 Year Straight Line
Deferred Taxation
Deferred tax is recognised in resepct of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax, or a right to pay less tax, or a right to received repayments of tax.

Deferred tax is measured on a non-discounted basis at the average tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Notes to the Accounts
1 INTANGIBLE FIXED ASSETS
Goodwill TOTAL
£ £
COST
As at the 01 April 2013 14,540 14,540
Additions - -
Disposals - -
As at the 31 March 2014 14,540 14,540
AMORTISATION
As at the 01 April 2013 14,540 14,540
Charge in the year - -
Charge on Disposals - -
As at the 31 March 2014 14,540 14,540
NET BOOK VALUE
As at the 31 March 2014 - -
As at the 01 April 2013 - -
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Notes to the Accounts
2 TANGIBLE FIXED ASSET REGISTER
Plant & Machinery Office Equipment TOTAL
COST £ £ £
As at the 01 April 2013 4,652 6,763 11,415
Additions - 1,943 1,943
Disposals - - -
As at the 31 March 2014 4,652 8,707 13,358
DEPRECIATION
As at the 01 April 2013 3,715 5,676 9,390
Charge for the period 370 1,029 1,399
On disposals - - -
As at the 31 March 2014 4,085 6,704 10,789
NET BOOK VALUE
As at the 31 March 2014 567 2,002 2,569
As at the 01 April 2013 937 1,088 2,024
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Notes to the Accounts
3 PREPAYMENTS
2014 2013
£ £
Insurance - 300
- 300
4 OTHER DEBTORS
2014 2013
£ £
Social Security & Taxes 2,916 1,522
2,916 1,522
5 OTHER CREDITORS 2014 2013
£ £
Corporation Tax 14,811 14,497
VAT 2,229 6,276
Credit Card & Expenses 3,033 3,504
20,073 24,277
6 ACCRUALS 2014 2013
£ £
Accountancy - 1,317
- 1,317
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Notes to the Accounts
7 SHARE CAPITAL
Allotted issued & fully paid :
Class Value Number 2014 2013
£ £ £
Ordinary 1 2 2 2
2 2
Shares authorised :
Class Value Number 2014 2013
£ £ £
Ordinary 1 1,000 1,000 1,000
1,000 1,000
J. T. ELECTRICAL CONTRACTORS LTD.
UNAUDITED FINANCIAL STATEMENTS
Year ended 31 March 2014
Notes to the Accounts
8 TRANSACTIONS WITH DIRECTORS
During the year a loan account existed between the company and the directors. The balance payable by the company at the 31 March 2014.
2014 2013
£ £
S. Taylor 775 1,829
K. Jarram 1,224 2,252
1,999 4,082
9 RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2014
£
Profit / Loss for the financial year - 4,769
Net deduction to shareholders' funds 4,769
Opening Shareholders' funds 22,567
Closing Shareholders' funds 17,797
Equity Interests 17,797
10 ULTIMATE CONTROLLING PARTY
There is considered to be the no ultimate controlling party as both Directors own 50% of the issued share capital.
J. T. ELECTRICAL CONTRACTORS LTD. 05313829 false true 2013-04-01 2014-03-31 2014-03-31 K. Jarram 05313829 uk-bus:OrdinaryShareClass1 2013-03-31 05313829 uk-bus:AllOrdinaryShares 2013-03-31 05313829 2013-04-01 2014-03-31 05313829 uk-bus:Director40 2013-04-01 2014-03-31 05313829 uk-gaap:PlantMachinery 2013-04-01 2014-03-31 05313829 uk-gaap:OfficeEquipment 2013-04-01 2014-03-31 05313829 uk-gaap:MotorVehicles 2013-04-01 2014-03-31 05313829 uk-gaap:NetGoodwill 2013-04-01 2014-03-31 05313829 uk-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 05313829 uk-bus:AllOrdinaryShares 2013-04-01 2014-03-31 05313829 uk-bus:Director1 2013-04-01 2014-03-31 05313829 2014-03-31 05313829 uk-gaap:NetGoodwill 2014-03-31 05313829 uk-gaap:PlantMachinery 2014-03-31 05313829 uk-gaap:OfficeEquipment 2014-03-31 05313829 uk-bus:OrdinaryShareClass1 2014-03-31 05313829 uk-bus:AllOrdinaryShares 2014-03-31 05313829 2013-03-31 05313829 uk-gaap:NetGoodwill 2013-03-31 05313829 uk-gaap:PlantMachinery 2013-03-31 05313829 uk-gaap:OfficeEquipment 2013-03-31 iso4217:GBP xbrli:shares