JCJ Developments Limited - Accounts to registrar (filleted) - small 23.2.5
JCJ Developments Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| JCJ Developments Limited |
| Financial Statements |
| for the Year Ended 29 April 2023 |
| JCJ Developments Limited (Registered number: 05409232) |
| Contents of the Financial Statements |
| for the year ended 29 April 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| JCJ Developments Limited |
| Company Information |
| for the year ended 29 April 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 33 George Street |
| Wakefield |
| West Yorkshire |
| WF1 1LX |
| JCJ Developments Limited (Registered number: 05409232) |
| Balance Sheet |
| 29 April 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| JCJ Developments Limited (Registered number: 05409232) |
| Balance Sheet - continued |
| 29 April 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| JCJ Developments Limited (Registered number: 05409232) |
| Notes to the Financial Statements |
| for the year ended 29 April 2023 |
| 1. | STATUTORY INFORMATION |
| JCJ Developments Limited is a |
| The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover in respect of speculative property development is recognised once the sale has completed. |
| Turnover generated from the investment properties represents rents receivable in the ordinary course of business and is recognised on an accruals basis. |
| 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. |
| Computer equipment - 20% Reducing Balance |
| Fixed assets are initially recorded at cost. |
| Government grants |
| Grants receivable in relation to revenue expenditure are credited to profit and loss in the period to which they relate. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Fair value has been determined by the directors having taken the appropriate professional advice and based on similar properties in the local area. |
| Stocks |
| Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress. |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments. |
| Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| JCJ Developments Limited (Registered number: 05409232) |
| Notes to the Financial Statements - continued |
| for the year ended 29 April 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 NIL (2022 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 30 April 2022 |
| and 29 April 2023 |
| DEPRECIATION |
| At 30 April 2022 |
| Charge for year |
| At 29 April 2023 |
| NET BOOK VALUE |
| At 29 April 2023 |
| At 29 April 2022 |
| JCJ Developments Limited (Registered number: 05409232) |
| Notes to the Financial Statements - continued |
| for the year ended 29 April 2023 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 30 April 2022 |
| Revaluations | 50,000 |
| At 29 April 2023 |
| NET BOOK VALUE |
| At 29 April 2023 |
| At 29 April 2022 |
| In the opinion of the directors the current carrying value of the investment properties reflects the fair value. |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| VAT |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Other loans (see note 9) |
| Tax |
| Directors' current accounts | 309,604 | 326,980 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans (see note 9) |
| Other loans (see note 9) |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years | 21,077 | 25,707 |
| JCJ Developments Limited (Registered number: 05409232) |
| Notes to the Financial Statements - continued |
| for the year ended 29 April 2023 |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2023 | 2022 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank loans |
| Other loans |
| Amounts falling due between two and five years: |
| Bank loans |
| Other loans - 2-5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more than 5 years | 21,077 | 25,707 |
| The other loan has been received under the Government's Bounce back scheme. The loan is repayable over a 5 year period with the repayments starting in August 2021. |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Bank borrowings are secured by way of a fixed and floating charges over the undertaking and all property and assets present and future including goodwill, bookdebts uncalled, capital buildings, fixtures, fixed plant and machinery. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary | £1 | 2 | 2 |
| 12. | RESERVES |
| Included within retained earnings is £241,773 (2022: £209,968) which is non-distributable. This relates to an accumulated increase in the fair value of investment properties, net of deferred tax. |