Jordan Road Surfacing Limited Filleted accounts for Companies House (small and micro)

JORDAN ROAD SURFACING LIMITED - Company Information

41 false false false false false false false false false true false false false false false false No description of principal activity 2020-11-01 Sage Accounts Production Advanced 2020 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 04528021 2020-11-01 2021-10-31 04528021 2021-10-31 04528021 2020-10-31 04528021 2019-11-01 2020-10-31 04528021 2020-10-31 04528021 core:PlantMachinery 2020-11-01 2021-10-31 04528021 core:FurnitureFittings 2020-11-01 2021-10-31 04528021 core:MotorVehicles 2020-11-01 2021-10-31 04528021 bus:RegisteredOffice 2020-11-01 2021-10-31 04528021 bus:OrdinaryShareClass1 2020-11-01 2021-10-31 04528021 bus:OrdinaryShareClass2 2020-11-01 2021-10-31 04528021 bus:OrdinaryShareClass3 2020-11-01 2021-10-31 04528021 bus:LeadAgentIfApplicable 2020-11-01 2021-10-31 04528021 bus:Director1 2020-11-01 2021-10-31 04528021 bus:CompanySecretary1 2020-11-01 2021-10-31 04528021 core:LandBuildings 2020-10-31 04528021 core:PlantMachinery 2020-10-31 04528021 core:FurnitureFittings 2020-10-31 04528021 core:MotorVehicles 2020-10-31 04528021 core:LandBuildings 2021-10-31 04528021 core:PlantMachinery 2021-10-31 04528021 core:FurnitureFittings 2021-10-31 04528021 core:MotorVehicles 2021-10-31 04528021 core:WithinOneYear 2021-10-31 04528021 core:WithinOneYear 2020-10-31 04528021 core:AfterOneYear 2021-10-31 04528021 core:AfterOneYear 2020-10-31 04528021 core:ShareCapital 2021-10-31 04528021 core:ShareCapital 2020-10-31 04528021 core:RetainedEarningsAccumulatedLosses 2021-10-31 04528021 core:RetainedEarningsAccumulatedLosses 2020-10-31 04528021 core:LandBuildings 2020-10-31 04528021 core:PlantMachinery 2020-10-31 04528021 core:FurnitureFittings 2020-10-31 04528021 core:MotorVehicles 2020-10-31 04528021 bus:SmallEntities 2020-11-01 2021-10-31 04528021 bus:AuditExemptWithAccountantsReport 2020-11-01 2021-10-31 04528021 bus:FullAccounts 2020-11-01 2021-10-31 04528021 bus:SmallCompaniesRegimeForAccounts 2020-11-01 2021-10-31 04528021 bus:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 04528021 bus:OrdinaryShareClass1 2021-10-31 04528021 bus:OrdinaryShareClass1 2020-10-31 04528021 bus:OrdinaryShareClass2 2021-10-31 04528021 bus:OrdinaryShareClass2 2020-10-31 04528021 bus:OrdinaryShareClass3 2021-10-31 04528021 bus:OrdinaryShareClass3 2020-10-31 04528021 bus:AllOrdinaryShares 2021-10-31 04528021 bus:AllOrdinaryShares 2020-10-31

COMPANY REGISTRATION NUMBER: 04528021

Jordan Road Surfacing Limited

Filleted Unaudited Financial Statements

For the Year Ended

31 October 2021

Jordan Road Surfacing Limited

Financial Statements

Year Ended 31 October 2021

Contents	Page

Officers and Professional Advisers	1

Statement of Financial Position	2

Notes to the Financial Statements	4

Jordan Road Surfacing Limited

Officers and Professional Advisers

Director	Mr B R Jordan

Company Secretary	Mr P R Coulby

Registered Office	Bougton Industrial Estate
	Road C
	Bougton
	Newark
	Nottinghamshire
	NG22 9LD

Accountants	Swandec
	Chartered Accountants
	550 Valley Road
	Basford
	Nottingham
	NG5 1JJ

Bankers	National Westminster Bank Plc
	1 Market Place
	Newark
	Nottinghamshire
	NG24 1DY

Jordan Road Surfacing Limited

Statement of Financial Position

31 October 2021

	2021		2020
Note	£	£	£

Fixed Assets

Tangible assets	4		2,259,216	1,921,564

Current Assets

Stocks		82,874	82,874
Debtors	5	2,227,260	2,054,928
Investments	6	320,000	320,000
Cash at bank and in hand		62,257	109,235
		------------	------------
		2,692,391	2,567,037

Creditors: amounts falling due within one year	7	2,266,515		1,971,870
		------------		------------
Net Current Assets			425,876	595,167
			------------	------------
Total Assets Less Current Liabilities			2,685,092	2,516,731

Creditors: amounts falling due after more than one year	8		707,488	650,530

Provisions

Taxation including deferred tax	282,359	46,951
	------------	------------
Net Assets	1,695,245	1,819,250
	------------	------------

Capital and Reserves

Called up share capital	9	250	250
Profit and loss account		1,694,995	1,819,000
		------------	------------
Shareholders Funds		1,695,245	1,819,250
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Jordan Road Surfacing Limited

Statement of Financial Position (continued)

31 October 2021

These financial statements were approved by the board of directors and authorised for issue on 11 January 2022 , and are signed on behalf of the board by:

Mr B R Jordan
Director

Company registration number: 04528021

Jordan Road Surfacing Limited

Notes to the Financial Statements

Year Ended 31 October 2021

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bougton Industrial Estate, Road C, Bougton, Newark, Nottinghamshire, NG22 9LD.

2. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

The turnover shown in the profit and loss account represents amounts invoiced for work carried out during the year, exclusive of Value Added Tax.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance Leases and Hire Purchase Contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial Instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Defined Contribution Plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. Employee Numbers

The average number of persons employed by the company during the year amounted to 41 (2020: 49 ).

4. Tangible Assets

	Leasehold Improvements	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 November 2020	170,078	2,157,011	39,774	1,028,076	3,394,939
Additions	–	424,812	–	337,288	762,100
Disposals	–	–	–	( 249,007)	( 249,007)
	---------	------------	--------	------------	------------
At 31 October 2021	170,078	2,581,823	39,774	1,116,357	3,908,032
	---------	------------	--------	------------	------------
Depreciation
At 1 November 2020	–	848,679	23,858	600,838	1,473,375
Charge for the year	–	186,197	781	89,416	276,394
Disposals	–	–	–	( 100,953)	( 100,953)
	---------	------------	--------	------------	------------
At 31 October 2021	–	1,034,876	24,639	589,301	1,648,816
	---------	------------	--------	------------	------------
Carrying amount
At 31 October 2021	170,078	1,546,947	15,135	527,056	2,259,216
	---------	------------	--------	------------	------------
At 31 October 2020	170,078	1,308,332	15,916	427,238	1,921,564
	---------	------------	--------	------------	------------

5. Debtors

	2021	2020
	£	£
Trade debtors	1,483,442	1,756,563
Other debtors	743,818	298,365
	------------	------------
	2,227,260	2,054,928
	------------	------------

6. Investments

	2021	2020
	£	£
Investments	320,000	320,000
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	1,379,669	1,106,655
Social security and other taxes	477,851	383,965
Other creditors	408,995	481,250
	------------	------------
	2,266,515	1,971,870
	------------	------------

8. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Other creditors	707,488	650,530
	---------	---------

9. Called Up Share Capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary A shares of £ 1 each	100	100	100	100
Ordinary B shares of £ 1 each	100	100	100	100
Ordinary C shares of £ 1 each	50	50	50	50
	----	----	----	----
	250	250	250	250
	----	----	----	----

10. Director's Advances, Credits and Guarantees

At the statement of financial position date, the amount owing to the director was £509 (2020:£509). The directors loan account is unsecured, interest free and repayable on demand.