M.J.C. Builders Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02757594 (England and Wales)

M.J.C. Builders Limited

Unaudited Financial Statements for the Year Ended 31 December 2019

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

47,062

61,047

Current assets

Stocks

1,000

1,000

Debtors

5

1,030,410

1,019,114

Cash at bank

172,989

323,532

1,204,399

1,343,646

Creditors

Amounts falling due within one year

6

182,215

417,393

Net current assets

1,022,184

926,253

Total assets less current liabilities

1,069,246

987,300

Provisions for liabilities

8,942

11,599

Net assets

1,060,304

975,701

Capital and reserves

Called up share capital

4

4

Retained earnings

1,060,300

975,697

Shareholders' funds

1,060,304

975,701

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 July 2020 and were signed on its behalf by:

Mr M J Coombe - Director

Mr M J Courage - Director

1.	Statutory information

M.J.C. Builders Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

02757594

Registered office:

10 Bridge Street

Christchurch

Dorset

BH23 1EF

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

The turnover in the profit and loss account represents amounts receivable for the year, exclusive of Value Added Tax in connection with its trade of building contractors.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stock and work in progress

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

Stock is measured 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 Statement of Income and Retained Earnings, 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.

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 2 (2018 - 4 ) .

4.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 January 2019

152,624

47,495

200,119

Disposals

-

(9,995

)

(9,995

)

At 31 December 2019

152,624

37,500

190,124

Depreciation

At 1 January 2019

122,073

16,999

139,072

Charge for year

4,583

7,031

11,614

Eliminated on disposal

-

(7,624

)

(7,624

)

At 31 December 2019

126,656

16,406

143,062

Net book value

At 31 December 2019

25,968

21,094

47,062

At 31 December 2018

30,551

30,496

61,047

5.

Debtors: amounts falling due within one year

2019

2018

£

£

Trade debtors

95,014

203,911

Other debtors

935,396

815,203

1,030,410

1,019,114

6.

Creditors: amounts falling due within one year

2019

2018

£

£

Trade creditors

18,098

42,936

Taxation and social security

33,779

64,958

Other creditors

130,338

309,499

182,215

417,393