JNR Contracting Ltd - Accounts to registrar (filleted) - small 18.2

JNR CONTRACTING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M T Gibbins

D Mackie

Mrs N Robson

J S Robson

R T Storton

REGISTERED OFFICE:

Unit 56 Commerce Court

Challenge Way

Bradford

West Yorkshire

BD4 8NW

REGISTERED NUMBER:

09035664 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Tangible assets

4

30,002

254

CURRENT ASSETS

Stocks

73,516

49,544

Debtors

5

256,521

251,702

Cash at bank

71,465

113,913

401,502

415,159

CREDITORS

Amounts falling due within one year

6

261,826

329,152

NET CURRENT ASSETS

139,676

86,007

TOTAL ASSETS LESS CURRENT LIABILITIES

169,678

86,261

CREDITORS

Amounts falling due after more than one year

7

(23,853

)

-

PROVISIONS FOR LIABILITIES

8

(5,700

)

(48

)

NET ASSETS

140,125

86,213

CAPITAL AND RESERVES

Called up share capital

9

160

160

Retained earnings

139,965

86,053

SHAREHOLDERS' FUNDS

140,125

86,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 26 February 2019 and were signed on its behalf by:

R T Storton - Director

J S Robson - Director

1.	STATUTORY INFORMATION

JNR Contracting Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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 stocks to their present location and condition.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

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 7 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 June 2017

495

-

495

Additions

-

39,730

39,730

At 31 May 2018

495

39,730

40,225

DEPRECIATION

At 1 June 2017

241

-

241

Charge for year

50

9,932

9,982

At 31 May 2018

291

9,932

10,223

NET BOOK VALUE

At 31 May 2018

204

29,798

30,002

At 31 May 2017

254

-

254

The net book value of tangible fixed assets includes £ 29,798 in respect of assets held under hire purchase

contracts.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Trade debtors

219,866

207,078

Other debtors

32,285

44,464

Called up share capital not paid

160

160

Prepayments

4,210

-

256,521

251,702

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

14,312

-

Trade creditors

187,076

256,050

Tax

6,993

10,581

Social security and other taxes

4,680

2,979

VAT

6,100

7,924

Accrued expenses

42,665

51,618

261,826

329,152

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

23,853

-

8.	PROVISIONS FOR LIABILITIES

31.5.18

31.5.17

£

£

Deferred tax

5,700

48

Deferred

tax

£

Balance at 1 June 2017

48

Accelerated capital allowances

5,652

Balance at 31 May 2018

5,700

The entire provision for deferred taxation relates to accelerated capital allowances.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.18

31.5.17

value:

£

£

160

Ordinary

1

160

160

10.	RELATED PARTY DISCLOSURES

The directors, acting together, hold 81.25% of the issued share capital, and therefore control the company.