JBP Associates Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02970219 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2022

for

JBP Associates Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

J Cullum

J A Bryant-Pearson

C J Lawrence

S Anderson-Dixon

C M Hayward

J C Hinchcliffe

J A Williams

REGISTERED OFFICE:

34 Smith Square

London

SW1P 3HL

BUSINESS ADDRESS:

16th Floor, Castlemead

Lower Castle Street

Bristol

BS1 3AG

REGISTERED NUMBER:

02970219 (England and Wales)

ACCOUNTANTS:

Venture

Chartered Accountants

Venture House

Calne Road

Lyneham

Chippenham

SN15 4PP

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

30,144

25,543

Investments

6

50

-

30,194

25,543

CURRENT ASSETS

Inventories

30,668

53,839

Debtors

7

847,087

670,199

Cash at bank

328,182

479,995

1,205,937

1,204,033

CREDITORS

Amounts falling due within one year

8

403,568

558,540

NET CURRENT ASSETS

802,369

645,493

TOTAL ASSETS LESS CURRENT LIABILITIES

832,563

671,036

PROVISIONS FOR LIABILITIES

5,213

4,226

NET ASSETS

827,350

666,810

CAPITAL AND RESERVES

Called up share capital

10

5,368

5,318

Share premium

15,582

15,582

Retained earnings

806,400

645,910

SHAREHOLDERS' FUNDS

827,350

666,810

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 28 November 2022 and were signed on its behalf by:

S Anderson-Dixon - Director

1.	STATUTORY INFORMATION

JBP 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc

-

20% on cost

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 24 (2021 - 23 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2021

and 31 May 2022

105,491

AMORTISATION

At 1 June 2021

and 31 May 2022

105,491

NET BOOK VALUE

At 31 May 2022

-

At 31 May 2021

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 June 2021

240,902

Additions

13,637

At 31 May 2022

254,539

DEPRECIATION

At 1 June 2021

215,359

Charge for year

9,036

At 31 May 2022

224,395

NET BOOK VALUE

At 31 May 2022

30,144

At 31 May 2021

25,543

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

Additions

50

At 31 May 2022

50

NET BOOK VALUE

At 31 May 2022

50

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

594,913

469,938

Other debtors

252,174

200,261

847,087

670,199

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts

15

275,000

Trade creditors

122,290

100,249

Amounts owed to group undertakings

40,583

40,583

Taxation and social security

191,287

131,239

Other creditors

49,393

11,469

403,568

558,540

9.	LEASING AGREEMENTS

The total amount due under non-cancellable operating leases is £321,522 (2021: £145,120).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

£

£

5,000

ordinary A

£1

5,318

5,000

318

ordinary B

£1

50

318

5,368

5,318

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2022 and 31 May 2021:

31.5.22

31.5.21

£

£

S Anderson-Dixon

Balance outstanding at start of year

50,573

50,573

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

50,573

50,573

C J Lawrence

Balance outstanding at start of year

13,125

13,125

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,125

13,125

C M Hayward

Balance outstanding at start of year

-

-

Amounts advanced

36,304

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

36,304

-

The Director's loans represent advances to purchase shares in an employee controlled company.