JC Construction (Midlands) Limited - Limited company - abbreviated

REGISTERED NUMBER: 03479899 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 June 2015

for

JC Construction (Midlands) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTORS:

J T Sears

Mrs A Sears

REGISTERED OFFICE:

Unit 6c Gatehouse Trading Estate

Lichfield Road

Brownhills

Walsall

West Midlands

WS8 6JZ

REGISTERED NUMBER:

03479899 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

2

29,622

39,963

CURRENT ASSETS

Stocks

114,975

34,890

Debtors

174,616

163,331

Cash at bank

116,863

93,067

406,454

291,288

CREDITORS

Amounts falling due within one year

(282,071

)

(172,832

)

NET CURRENT ASSETS

124,383

118,456

TOTAL ASSETS LESS CURRENT
LIABILITIES

154,005

158,419

CREDITORS

Amounts falling due after more than one
year

(3,889

)

(10,556

)

PROVISIONS FOR LIABILITIES

(5,231

)

(6,900

)

NET ASSETS

144,885

140,963

CAPITAL AND RESERVES

Called up share capital

3

250

Capital redemption reserve

250

Profit and loss account

144,385

140,463

SHAREHOLDERS' FUNDS

144,885

140,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 5 October 2015 and were signed on its behalf by:

J T Sears - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, 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.

Long leasehold

-

Straight line over the life of the lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

65,267

DEPRECIATION

At 1 July 2014

25,304

Charge for year

10,341

At 30 June 2015

35,645

NET BOOK VALUE

At 30 June 2015

29,622

At 30 June 2014

39,963

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

137

Ordinary 'A'

£1

137

150

100

Ordinary 'B'

£1

100

-

13

Ordinary 'C'

£1

13

100

250

Allotted and issued:

Number:

Class:

Nominal

2015

2014

value:

£

100

Ordinary 'B'

£1

100

-

During the year the 150 Ordinary 'A' shares and 100 Ordinary 'B' shares were re-designated into 137 Ordinary 'A'

shares, 100 Ordinary 'B' shares and 13 Ordinary 'C' shares.

These shares rank pari-passu in all respects except that each class of share shall be entitled to dividends on a

discretionary basis as a separate class right.

4.	RELATED PARTY DISCLOSURES

J T Sears

Director

During the year J T Sears was paid £45,000 (2014 - £1,500) in dividends.

Additionally, during the year J T Sears rented property to the company at a cost of £5,630 (2014 - £5,630). The

rent was charged on an arms length and fully commercial basis.

Mrs A Sears

Director

During the year Mrs A Sears was paid £50,000 (2014 - £1,500) in dividends.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of JC Construction (Midlands) Limited for the year ended 30 June 2015 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of JC Construction (Midlands) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JC Construction (Midlands) Limited and state those matters that we have agreed to state to the Board of Directors of JC Construction (Midlands) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JC Construction (Midlands) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JC Construction (Midlands) Limited. You consider that JC Construction (Midlands) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JC Construction (Midlands)

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.