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 2021

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

66,266

76,687

CURRENT ASSETS

Stocks

225,881

553,458

Debtors

5

119,841

145,773

Cash at bank

483,012

449,689

828,734

1,148,920

CREDITORS

Amounts falling due within one year

6

487,334

914,331

NET CURRENT ASSETS

341,400

234,589

TOTAL ASSETS LESS CURRENT LIABILITIES

407,666

311,276

CREDITORS

Amounts falling due after more than one year

7

(34,255

)

(61,325

)

PROVISIONS FOR LIABILITIES

(12,771

)

(14,751

)

NET ASSETS

360,640

235,200

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

360,638

235,198

SHAREHOLDERS' FUNDS

360,640

235,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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 27 January 2022 and were signed on its behalf by:

M A Flynn - Director

A S Potts - 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

Stocks and work in progress are 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2020

125,712

Additions

22,490

At 31 July 2021

148,202

DEPRECIATION

At 1 August 2020

49,025

Charge for year

32,911

At 31 July 2021

81,936

NET BOOK VALUE

At 31 July 2021

66,266

At 31 July 2020

76,687

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

Plant and

machinery

etc

£

COST

At 1 August 2020

113,609

Transfer to ownership

(24,000

)

At 31 July 2021

89,609

DEPRECIATION

At 1 August 2020

40,956

Charge for year

19,726

Transfer to ownership

(8,000

)

At 31 July 2021

52,682

NET BOOK VALUE

At 31 July 2021

36,927

At 31 July 2020

72,653

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Trade debtors

21,733

32,464

Other debtors

98,108

113,309

119,841

145,773

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.21

31.7.20

£

£

Hire purchase contracts (see note 8)

14,670

18,990

Trade creditors

123,682

163,168

Taxation and social security

60,253

50,871

Other creditors

288,729

681,302

487,334

914,331

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.21

31.7.20

£

£

Hire purchase contracts (see note 8)

34,255

61,325

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.7.21

31.7.20

£

£

Net obligations repayable:

Within one year

14,670

18,990

Between one and five years

34,255

61,325

48,925

80,315

Non-cancellable operating

leases

31.7.21

31.7.20

£

£

Within one year

2,851

2,851

Between one and five years

-

2,851

2,851

5,702

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.21

31.7.20

£

£

Hire purchase contracts

48,925

80,315

Hire purchase balances are secured on the assets to which they relate.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2021 and 31 July 2020:

31.7.21

31.7.20

£

£

A S Potts

Balance outstanding at start of year

66,033

46,468

Amounts advanced

78,053

78,197

Amounts repaid

(76,490

)

(58,632

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

67,596

66,033

11.	RELATED PARTY DISCLOSURES

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

31.7.21

31.7.20

Purchases from related companies

£19,950

£18,405

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.