Just Granite Contracts Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05661168 (England and Wales)

JUST GRANITE CONTRACTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M Allen

REGISTERED OFFICE:

Pillaton Hall Farm

Pillaton

Penkridge

Staffordshire

ST19 5RZ

REGISTERED NUMBER:

05661168 (England and Wales)

ACCOUNTANTS:

UHY Hacker Young (Bham) LLP

9 - 11 Vittoria Street

Birmingham

B1 3ND

FIXED ASSETS

Investments

4

1,916,438

CURRENT ASSETS

Debtors

5

111,147

73,869

Cash at bank

4,023

48,202

115,170

122,071

CREDITORS

Amounts falling due within one year

6

306,262

440,588

NET CURRENT LIABILITIES

(191,092

)

(318,517

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,725,346

1,597,921

CREDITORS

Amounts falling due after more than
one year

7

482,359

NET ASSETS

1,242,987

1,115,562

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

1,242,887

1,115,462

SHAREHOLDERS' FUNDS

1,242,987

1,115,562

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 July 2022 and were signed by:

M Allen - Director

1.	STATUTORY INFORMATION

Just Granite Contracts 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.

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.

The presentational and functional currency of these financial statements is sterling. All amounts in the financial statements have been rounded to the nearest £1.

Measurement convention

The financial statements are prepared on the historical cost basis except in the instance where assets and liabilities are stated at their fair value.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they have adopted the going concern basis of accounting in preparing these financial statements.

Basic financial instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other income, in which case it is recognised directly in equity or other income.

Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date.

Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is not recognised on permanent differences arising because certain types of income or expense are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or smaller than the corresponding income or expense.

Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that is it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2020

and 30 November 2021

1,916,438

NET BOOK VALUE

At 30 November 2021

1,916,438

At 30 November 2020

1,916,438

At 30 November 2021, Just Granite Contracts Limited hold 100 shares in Just Granite Limited.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade debtors

83,814

71,772

Other debtors

27,333

2,097

111,147

73,869

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

Trade creditors

-

5,470

Amounts owed to participating interests

246,000

Taxation and social security

57,952

90,908

Other creditors

2,310

98,210

306,262

440,588

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

Amounts owed to participating interests

482,359

8.	RELATED PARTY TRANSACTIONS

Just Granite Contracts Limited owns a majority shareholding in Just Granite Limited.

During the year ended 30 November 2021, Just Granite Limited purchased £Nil (2020: £NIL) from Just Granite Contracts Limited, for installation services. At 30 November 2021, £Nil (2020: £Nil) is outstanding and owed to Just Granite Contracts Limited.

Just Granite Limited made loans of £Nil (2020: £Nil) to Just Granite Contracts Limited during the year ended 30 November 2021. At 30 November 2021, £728,359 (2020: £728,359) is owed to Just Granite Limited in repayment of these loans. The loans are repayable between 1 and 2 years.

9.	REGISTRATION OF A CHARGE

Just Granite Limited has security over the loan which was given to Just Granite Contracts Limited in the form of a debenture. This charge was registered with Companies House on 24 April 2015.

10.	CONSOLIDATED FINANCIAL STATEMENTS

Just Granite Contracts Limited has taken exemption from preparing consolidated financial statements for the years ended 30 November 2019 and 30 November 2020 by qualifying as a small company.

Just Granite Contracts Limited - Accounts to registrar (filleted) - small 18.2

Just Granite Contracts Limited - Accounts to registrar (filleted) - small 18.2