JPW Yorkshire Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03326845 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

JPW YORKSHIRE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P M Wales

Mr J Wales (Snr)

Mr J Wales

Mrs Z Wales

SECRETARY:

Mrs P Wales

REGISTERED OFFICE:

178 Carlton Road

Smithies

Barnsley

South Yorkshire

S71 2AW

REGISTERED NUMBER:

03326845 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BANKERS:

Yorkshire Bank Plc

2 Infirmary Street

Leeds

West Yorkshire

LS1 2UL

FIXED ASSETS

Tangible assets

4

106,698

75,408

CURRENT ASSETS

Stocks

5

-

172,477

Debtors

6

152,580

21,206

Cash at bank

194,917

354,129

347,497

547,812

CREDITORS

Amounts falling due within one year

7

160,856

267,952

NET CURRENT ASSETS

186,641

279,860

TOTAL ASSETS LESS CURRENT LIABILITIES

293,339

355,268

PROVISIONS FOR LIABILITIES

20,272

14,327

NET ASSETS

273,067

340,941

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

272,067

339,941

SHAREHOLDERS' FUNDS

273,067

340,941

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 for issue by the Board of Directors and authorised for issue on 11 December 2020 and were signed on its behalf by:

Mr J Wales (Snr) - Director

1.	STATUTORY INFORMATION

JPW Yorkshire 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is recognised to the extent that the company has obtained the right to consideration through the performance of its contractual obligations. Where the substance is that the company's contractual obligations are performed over time, turnover is recognised as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount recognised represents the right to consideration by reference to the value of the work performed.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Fixed assets

Plant and machinery

- 20% reducing balance

Computer equipment

- 33% on cost

Motor vehicles

- 25% on reducing balance

Stocks

Developed properties for sale and properties under development are valued at the lower of direct costs and net realisable value. No element of profit is included in the valuation of developed properties for sale.

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.

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.

Going concern

The financial statements have been prepared on a going concern basis. At the time of approval the UK economy was subject to the impact of the coronavirus pandemic outbreak. Projections and forecasts have been prepared based on a number of underlying assumptions, which are subject to significant uncertainty at this time. These show that the expected income and expenditure, together with current reserves and the possibility of obtaining potential funding allows the company to continue as a going concern.

Operating lease agreement

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

137,094

60,156

-

197,250

Additions

32,973

17,593

571

51,137

At 31 March 2020

170,067

77,749

571

248,387

DEPRECIATION

At 1 April 2019

93,663

28,179

-

121,842

Charge for year

12,542

7,164

141

19,847

At 31 March 2020

106,205

35,343

141

141,689

NET BOOK VALUE

At 31 March 2020

63,862

42,406

430

106,698

At 31 March 2019

43,431

31,977

-

75,408

5.

STOCKS

31.3.20

31.3.19

£

£

Developed properties for sale

-

172,477

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

152,242

4,105

VAT

-

17,101

Prepayments and accrued income

338

-

152,580

21,206

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade creditors

83,530

140,532

Corporation tax

-

26,598

Social security and other taxes

6,504

7,990

VAT

10,318

-

Directors' current accounts

57,655

88,871

Accruals and deferred income

2,849

3,961

160,856

267,952

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

510

A Ordinary

£1

510

510

488

B Ordinary

£1

488

488

2

C Ordinary

£1

2

2

1,000

1,000

9.	SUBSEQUENT EVENTS

The directors have considered the global pandemic in producing these financial statements. Any impacts of the pandemic on this company is considered by the directors to be a non-adjusting event for these financial statements. At the time of review, the impact on the business and results is limited.