J & D 2012 Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07916339 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

J & D 2012 LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J J Gill

Mr D Gill

REGISTERED OFFICE:

4 The Gateway

Blackthorn Place

Silsoe

Beds

MK45 4PZ

REGISTERED NUMBER:

07916339 (England and Wales)

AUDITORS:

FKCA Limited

Statutory Auditor

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Tangible assets

4

7,283

10,323

Investments

5

2

2

7,285

10,325

CURRENT ASSETS

Stocks

6

1,538,741

3,373,191

Debtors

7

1,337,169

2,025,046

Cash at bank

38,941

15,988

2,914,851

5,414,225

CREDITORS

Amounts falling due within one year

8

981,572

4,212,602

NET CURRENT ASSETS

1,933,279

1,201,623

TOTAL ASSETS LESS CURRENT LIABILITIES

1,940,564

1,211,948

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,940,562

1,211,946

SHAREHOLDERS' FUNDS

1,940,564

1,211,948

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 30 September 2021 and were signed on its behalf by:

Mr J J Gill - Director

1.	STATUTORY INFORMATION

J & D 2012 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.

Since the year end the United Kingdom, amongst other countries, has been struck by the Coronavirus (COVID-19) pandemic. The accounts have been prepared on the going concern basis, which the directors consider to be appropriate as the company, together with support from its parent, has sufficient resources to meet future commitments as they fall due.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover represents completed property sales, excluding value added tax.

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

25% on reducing balance

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment. Any dividend received is credited to the profit and loss.

Stocks and work in progress

Stocks and work in progress is valued at the lower of cost and net realisable value on the basis of direct costs plus attributable finance expenses. No element of profit is included in the valuation of work in progress.

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 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.

Preparation of consolidated financial statements

The financial statements contain information about J&D 2012 Ltd and do not contain consolidated financial information on the group. The company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements. The financial statements are consolidated within the GPS Estates group (details shown on note 11) accounts for the year ended 31 December 2020.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2020

and 31 December 2020

2,800

16,750

2,922

22,472

DEPRECIATION

At 1 January 2020

1,129

8,922

2,098

12,149

Charge for year

251

2,583

206

3,040

At 31 December 2020

1,380

11,505

2,304

15,189

NET BOOK VALUE

At 31 December 2020

1,420

5,245

618

7,283

At 31 December 2019

1,671

7,828

824

10,323

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

Motor

vehicles

£

COST

At 1 January 2020

16,750

Transfer to ownership

(16,750

)

At 31 December 2020

-

DEPRECIATION

At 1 January 2020

8,922

Transfer to ownership

(8,922

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

7,828

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2020

and 31 December 2020

2

NET BOOK VALUE

At 31 December 2020

2

At 31 December 2019

2

6.

STOCKS

2020

2019

£

£

Stocks

1,538,741

3,373,191

Stocks include directly attributable finance costs of £95,961 (2019: £81,543).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by group undertakings

1,260,326

1,968,666

Other debtors

632

255

VAT

76,211

56,125

1,337,169

2,025,046

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

803,481

1,790,828

Hire purchase contracts

-

749

Trade creditors

7,121

3,363

Amounts owed to group undertakings

6,011

2,391,581

Corporation tax

161,459

20,081

Accrued expenses

3,500

6,000

981,572

4,212,602

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

803,481

1,790,828

The creditors are secured against the stock in the company by way of fixed and floating charges.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Stephen Mason FCA (Senior Statutory Auditor)

for and on behalf of FKCA Limited

11.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of GPS Estates Limited and incorporated in the United Kingdom. The ultimate controlling parties are Mr J and Mr D Gill by virtue of their shareholding in GPS Estates Limited with the registered office of 4 The Gateway, Blackthorn Place, Silsoe, Beds, MK45 4PZ. Copies of the accounts of GPS Estates Limited can be obtained from the registered office.