S J Groves Building Contractors Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04531739 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

S J GROVES BUILDING CONTRACTORS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S J Groves

SECRETARY:

Mrs J M Groves

REGISTERED OFFICE:

Holly Cottage

Somersal Herbert

Ashbourne

Derbyshire

DE6 5PD

REGISTERED NUMBER:

04531739 (England and Wales)

ACCOUNTANTS:

Wynniatt-Husey Limited (Uttoxeter Branch)

The Old Bakehouse

Dove Walk

Uttoxeter

Staffordshire

ST14 8EH

FIXED ASSETS

50,632

Tangible assets

4

42,373

CURRENT ASSETS

250

Stocks

5

150

21,102

Debtors

6

40,000

17,714

Cash at bank and in hand

3,400

39,066

43,550

CREDITORS

(41,188

)

Amounts falling due within one year

7

(50,417

)

(2,122

)

NET CURRENT LIABILITIES

(6,867

)

48,510

TOTAL ASSETS LESS CURRENT LIABILITIES

35,506

(9,620

)

PROVISIONS FOR LIABILITIES

(8,051

)

38,890

NET ASSETS

27,455

CAPITAL AND RESERVES

2

Called up share capital

2

38,888

Retained earnings

27,453

38,890

SHAREHOLDERS' FUNDS

27,455

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 16 December 2019 and were signed by:

Mr S J Groves - Director

1.	STATUTORY INFORMATION

S J Groves Building Contractors 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 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

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.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Totals

machinery

fittings

vehicles

£

£

£

£

COST

At 1 April 2018

166,512

127,991

3,352

35,169

Additions

5,867

5,000

867

-

At 31 March 2019

172,379

132,991

4,219

35,169

DEPRECIATION

At 1 April 2018

115,880

100,906

2,748

12,226

Charge for year

14,126

8,022

368

5,736

At 31 March 2019

130,006

108,928

3,116

17,962

NET BOOK VALUE

At 31 March 2019

42,373

24,063

1,103

17,207

At 31 March 2018

50,632

27,085

604

22,943

5.

STOCKS

31.3.19

31.3.18

£

£

Stocks

150

250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

25,000

20,400

Work in progress

15,000

-

Other debtors

-

702

40,000

21,102

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

39,172

10,537

Trade creditors

430

3,012

Tax

5,823

6,825

Social security and other taxes

708

-

VAT

2,274

2,424

Other creditors

300

447

Director's current account

165

16,368

Accrued expenses

1,545

1,575

50,417

41,188

8.	RELATED PARTY DISCLOSURES

The company was under the control of Mr S Groves throughout the year. Mr Groves and his wife own all of the

share capital of the company.

At the year end the balance owed to the director and his wife on their loan accounts was as shown in the creditors

note.