J K Construction & Building Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07331551 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2019

for

J K Construction & Building Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Flynn

A S Potts

REGISTERED OFFICE:

117 - 119 Cleethorpe Road

Grimsby

North East Lincs

DN31 3ET

REGISTERED NUMBER:

07331551 (England and Wales)

FIXED ASSETS

Tangible assets

4

84,241

53,368

CURRENT ASSETS

Stocks

505,200

86,227

Debtors

5

74,175

23,987

Cash at bank

250,354

96,688

829,729

206,902

CREDITORS

Amounts falling due within one year

6

665,694

94,034

NET CURRENT ASSETS

164,035

112,868

TOTAL ASSETS LESS CURRENT LIABILITIES

248,276

166,236

CREDITORS

Amounts falling due after more than one year

7

(65,561

)

(42,705

)

PROVISIONS FOR LIABILITIES

(16,006

)

(10,140

)

NET ASSETS

166,709

113,391

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

166,707

113,389

SHAREHOLDERS' FUNDS

166,709

113,391

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 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 on 6 April 2020 and were signed on its behalf by:

M A Flynn - Director

1.	STATUTORY INFORMATION

J K Construction & Building Services 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Tangible fixed assets are depreciated at the following rates:

Computer equipment

25% on cost

Plant and machinery

25% on cost

Stocks

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

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.

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 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2018

70,958

Additions

54,350

At 31 July 2019

125,308

DEPRECIATION

At 1 August 2018

17,590

Charge for year

23,477

At 31 July 2019

41,067

NET BOOK VALUE

At 31 July 2019

84,241

At 31 July 2018

53,368

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2018

58,850

Additions

51,500

At 31 July 2019

110,350

DEPRECIATION

At 1 August 2018

6,010

Charge for year

22,442

At 31 July 2019

28,452

NET BOOK VALUE

At 31 July 2019

81,898

At 31 July 2018

52,840

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

5,510

218

Other debtors

68,665

23,769

74,175

23,987

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Hire purchase contracts

18,389

10,190

Trade creditors

396,975

52,835

Taxation and social security

14,987

4,222

Other creditors

235,343

26,787

665,694

94,034

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Hire purchase contracts

65,561

42,705

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.19

31.7.18

£

£

Hire purchase contracts

83,950

52,895

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date one of the directors had a balance owing to the company of £46,468 (2018:

owed from the company £432).

10.	RELATED PARTY DISCLOSURES

During the year the company had the following related party transactions:

2019

2018

Sales

£Nil

£Nil

Management charges

£Nil

£Nil

Balance owed from a related party

£314

£Nil

Balance owed to a related party

£17,460

£17,780

The related party is a company in which Mr M Flynn and Mr A Potts are also directors.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the issued share capital.