J K Construction & Building Services Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07331551 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2023

for

J. K. Construction & Building Services

Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Flynn

A S Potts

REGISTERED OFFICE:

117 - 119 Cleethorpe Road

Grimsby

North East Lincs

DN31 3ET

REGISTERED NUMBER:

07331551 (England and Wales)

FIXED ASSETS

Tangible assets

4

12,318

32,602

CURRENT ASSETS

Stocks

1,018,902

84,447

Debtors

5

134,940

214,555

Cash at bank

161,072

126,905

1,314,914

425,907

CREDITORS

Amounts falling due within one year

6

1,161,862

219,066

NET CURRENT ASSETS

153,052

206,841

TOTAL ASSETS LESS CURRENT LIABILITIES

165,370

239,443

CREDITORS

Amounts falling due after more than one year

7

(12,265

)

(19,997

)

PROVISIONS FOR LIABILITIES

(3,080

)

(6,194

)

NET ASSETS

150,025

213,252

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

150,021

213,248

SHAREHOLDERS' FUNDS

150,025

213,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 19 March 2024 and were signed on its behalf by:

M A Flynn - Director

1.	STATUTORY INFORMATION

J. K. Construction & Building Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Tangible fixed assets are depreciated at the following rates:

Plant & Machinery

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell. The cost is measured on a first in, first out basis.

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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

149,586

DEPRECIATION

At 1 August 2022

116,984

Charge for year

20,284

At 31 July 2023

137,268

NET BOOK VALUE

At 31 July 2023

12,318

At 31 July 2022

32,602

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

89,609

DEPRECIATION

At 1 August 2022

75,084

Charge for year

9,174

At 31 July 2023

84,258

NET BOOK VALUE

At 31 July 2023

5,351

At 31 July 2022

14,525

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

2,632

96,719

Other debtors

132,308

117,836

134,940

214,555

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Hire purchase contracts

7,320

14,670

Trade creditors

194,320

122,195

Taxation and social security

22,024

2,457

Other creditors

938,198

79,744

1,161,862

219,066

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.23

31.7.22

£

£

Hire purchase contracts

12,265

19,997

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.23

31.7.22

£

£

Hire purchase contracts

19,585

34,667

Hire purchase balances are secured on the assets to which they relate.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23

31.7.22

£

£

Balance outstanding at start of year

46,956

48,631

Amounts advanced

108,718

101,268

Amounts repaid

(112,512

)

(102,943

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

43,162

46,956

10.	RELATED PARTY DISCLOSURES

During the year the company had the following related party transactions:

31.7.23

31.7.22

Purchases from related companies

£18,775

£19,913

Balance owing to related companies

£5,025

-

The related parties are companies where either both or one of the directors for J.K. Construction & Building Services Ltd, also act as director for.

11.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.