JCPII Limited,Ltd - AccountsLtd - Accounts

JCPII Limited,Ltd - AccountsLtd - Accounts

JCPII LTD - Company Information

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2021-04-01 05750972 2022-03-31 05750972 2021-04-01 2022-03-31 05750972 2021-03-31 05750972 2020-04-01 2021-03-31 05750972 uk-core:WithinOneYear 2021-03-31 05750972 uk-core:WithinOneYear 2022-03-31 05750972 uk-core:AfterOneYear 2021-03-31 05750972 uk-core:AfterOneYear 2022-03-31 05750972 uk-core:ShareCapital 2022-03-31 05750972 uk-core:ShareCapital 2021-03-31 05750972 uk-core:RetainedEarningsAccumulatedLosses 2022-03-31 05750972 uk-core:RetainedEarningsAccumulatedLosses 2021-03-31 05750972 uk-bus:Director1 2021-04-01 2022-03-31 05750972 uk-core:ShipsBoats 2021-04-01 2022-03-31 05750972 uk-core:FurnitureFittings 2021-04-01 2022-03-31 05750972 uk-core:WithinOneYear 2022-03-31 05750972 uk-core:WithinOneYear 2021-03-31 05750972 uk-core:AfterOneYear uk-core:Secured 2022-03-31 05750972 uk-core:AfterOneYear uk-core:Secured 2021-03-31 iso4217:GBP xbrli:pure 05750972 uk-bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 05750972 uk-bus:FRS102 2021-04-01 2022-03-31 05750972 uk-bus:FullAccounts 2021-04-01 2022-03-31 05750972 uk-bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31
JCPII Limited
Registered Number:05750972
For the year ended 31 March 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2022
JCPII Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
05750972
As at 31 March 2022
JCPII Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
6,498
4,814
2
6,498
4,814
Current assets
Trade and other receivables
89,833
161,886
3
135,701
Cash and cash equivalents
123,664
285,550
225,534
Trade and other payables: amounts falling due within one
year
(151,244)
(218,221)
4
74,290
67,329
Net current assets
Total assets less current liabilities
73,827
79,104
Trade and other payables: amounts falling due after more
than one year
(50,000)
(36,667)
5
(1,200)
(900)
Provisions for liabilities
35,960
Net assets
28,204
Capital and reserves
Called up share capital
95
95
Retained earnings
35,865
28,109
35,960
28,204
Shareholders' funds
For the year ended 31 March 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
05750972
For the year ended 31 March 2022
JCPII Limited
Statement of Financial Position Continued
Mr D. De-Burgh Milne Director
These financial statements were approved and authorised for issue by the Board on 29 December 2022 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2022
JCPII Limited
Notes to the Financial Statements
Statutory Information
JCPII Limited is a private limited company, limited by shares, domiciled in England and Wales, registration
number 05750972.
Registered address:
Omega Court
368 Cemetery Road
Sheffield
S11 8FT
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised on the completion of each large contract assignment or small job, in accordance with the contract terms.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Marine craft
25% Reducing balance
15% Reducing balance
Fixtures and fittings
Inventories
Income on work in progress contracts is recognised by reference to the valuation of time spent on each contract, at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to fairly reflect the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
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6
For the year ended 31 March 2022
JCPII Limited
Notes to the Financial Statements Continued
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 the 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 timing differences. 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 future profits.
2. Property, plant and equipment
Fixtures and
fittings
£
Cost or
valuation
At 01 April 2021
10,790
2,831
Additions
At 31 March 2022
13,621
Provision for depreciation and impairment
At 01 April 2021
5,976
Charge for year
1,147
At 31 March 2022
7,123
At 31 March 2022
Net book value
6,498
At 31 March 2021
4,814
3. Trade and other receivables
2021
2022
£
£
Trade debtors
161,886
89,812
Other debtors
-
21
89,833
161,886
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7
For the year ended 31 March 2022
JCPII Limited
Notes to the Financial Statements Continued
4. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Bank loans and overdraft
10,000
-
Trade creditors
131,673
76,999
Taxation and social security
72,278
70,495
Other creditors
4,270
3,750
218,221
151,244
5. Trade and other payables: amounts falling due after more than one year
2021
2022
£
£
Bank loans and overdraft
36,667
50,000
6. Related party transactions
The directors are also shareholders of the company. Dividends paid to the directors, as shareholders of the
company, during the year (with the previous year shown in brackets) were as follows: Mr D. de Burgh-Milne
£147,200 (£135,200); Mr J.T. Dakin £12,500 (£13,000); Mr P. Rowson £27,000 (£27,000).
7. Average number of persons employed
During the year the average number of employees was 3 (2021 : 3)
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