Jeftex Builders Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02054410 (England and Wales)

Jeftex Builders Limited

Unaudited Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs E C Siwoku

Mr D B A Siwoku

REGISTERED OFFICE:

C/o Salisbury & Company

Ffordd Celyn

Lon Parcwr Business Park

Ruthin

Denbighshire

LL15 1NJ

REGISTERED NUMBER:

02054410 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

414

1,493

CURRENT ASSETS

Stocks

113,578

-

Debtors

5

3,760

1,958

Cash at bank

80,814

191,795

198,152

193,753

CREDITORS

Amounts falling due within one year

6

116,517

79,971

NET CURRENT ASSETS

81,635

113,782

TOTAL ASSETS LESS CURRENT LIABILITIES

82,049

115,275

PROVISIONS FOR LIABILITIES

-

300

NET ASSETS

82,049

114,975

CAPITAL AND RESERVES

Called up share capital

1

1

Capital redemption reserve

1

1

Retained earnings

82,047

114,973

82,049

114,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 4 May 2021 and were signed on its behalf by:

Mr D B A Siwoku - Director

1.	STATUTORY INFORMATION

Jeftex Builders 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2020

2,984

4,050

7,034

Disposals

(1,270

)

(3,737

)

(5,007

)

At 31 December 2020

1,714

313

2,027

DEPRECIATION

At 1 January 2020

1,982

3,559

5,541

Charge for year

116

11

127

Eliminated on disposal

(734

)

(3,321

)

(4,055

)

At 31 December 2020

1,364

249

1,613

NET BOOK VALUE

At 31 December 2020

350

64

414

At 31 December 2019

1,002

491

1,493

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Amounts owed by participating interests

-

1,702

Other debtors

3,760

256

3,760

1,958

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

26,965

-

Taxation and social security

2,477

2,324

Other creditors

87,075

77,647

116,517

79,971

Included in other creditors is a loan to The Finishing School Retirement Benefit Scheme, the company's pension scheme. The balance due on loan to the scheme at 31 December 2020 was £55,644 (2019 £55,644).