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 2020

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

76,687

84,241

CURRENT ASSETS

Stocks

553,458

505,200

Debtors

5

145,773

74,175

Cash at bank

449,689

250,354

1,148,920

829,729

CREDITORS

Amounts falling due within one year

6

914,331

665,694

NET CURRENT ASSETS

234,589

164,035

TOTAL ASSETS LESS CURRENT LIABILITIES

311,276

248,276

CREDITORS

Amounts falling due after more than one year

7

(61,325

)

(65,561

)

PROVISIONS FOR LIABILITIES

(14,751

)

(16,006

)

NET ASSETS

235,200

166,709

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

235,198

166,707

SHAREHOLDERS' FUNDS

235,200

166,709

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 by the Board of Directors and authorised for issue on 5 February 2021 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2019

125,308

Additions

35,509

Disposals

(35,105

)

At 31 July 2020

125,712

DEPRECIATION

At 1 August 2019

41,067

Charge for year

27,290

Eliminated on disposal

(19,332

)

At 31 July 2020

49,025

NET BOOK VALUE

At 31 July 2020

76,687

At 31 July 2019

84,241

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

Plant and

machinery

etc

£

COST

At 1 August 2019

110,350

Additions

32,109

Disposals

(28,850

)

At 31 July 2020

113,609

DEPRECIATION

At 1 August 2019

28,452

Charge for year

25,727

Eliminated on disposal

(13,223

)

At 31 July 2020

40,956

NET BOOK VALUE

At 31 July 2020

72,653

At 31 July 2019

81,898

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Trade debtors

32,464

5,510

Other debtors

113,309

68,665

145,773

74,175

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Hire purchase contracts (see note 8)

18,990

18,389

Trade creditors

163,168

396,975

Taxation and social security

50,871

14,987

Other creditors

681,302

235,343

914,331

665,694

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.20

31.7.19

£

£

Hire purchase contracts (see note 8)

61,325

65,561

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.7.20

31.7.19

£

£

Net obligations repayable:

Within one year

18,990

18,389

Between one and five years

61,325

65,561

80,315

83,950

Non-cancellable

operating leases

31.7.20

31.7.19

£

£

Within one year

2,851

926

Between one and five years

2,851

-

5,702

926

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.20

31.7.19

£

£

Hire purchase contracts

80,315

83,950

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the directors had a balance owing to the company of £66,033 (2019: £46,468).

11.	RELATED PARTY DISCLOSURES

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

31.7.20

31.7.19

Purchases from related companies

£18,405

£21,725

Balances owed from a related party

£Nil

£314

Balances owed to a related party

£Nil

£17,460

The related parties are companies where either both or one of the directors for J.K. Construction & Building Services Ltd, also act as director for.

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.