J R McGill (Construction) Limited
J R McGill (Construction) Limited
Registered number: 02910616
Financial Statements
For The Year Ended
30 September 2023
J R McGill (Construction) Limited
Financial Statements
For The Year Ended
30 September 2023
Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
J R McGill (Construction) Limited
Balance Sheet
As At
30 September 2023
Balance Sheet
Registered number:
02910616
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 6 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 119,570 | 128,784 | |||
J R McGill (Construction) Limited
Balance Sheet (continued)
As At
30 September 2023
On behalf of the board
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Director
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The notes on pages 3 to 6 form part of these financial statements.
J R McGill (Construction) Limited
Notes to the Financial Statements
For The Year Ended
30 September 2023
Notes to the Financial Statements
1.
General Information
J R McGill (Construction) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
02910616
. The registered office is 39 Alma Vale Road, Clifton, Bristol, BS8 2HL.
The presentation currency of the financial statements is the Pound Sterling (£)
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover, which is stated net of Value Added Tax, represents the value of services provided to third parties including long-term contract work in progress where turnover represents sales value of work done in the year including amounts not invoiced.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
2.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less accumulated depreciation and any accumulated impairment losses
Depreciation is provided at following annual rates in order to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
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2.4.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income.
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 that have been enacted or substantively enacted by the balance sheet date.
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.
J R McGill (Construction) Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2023
2.5.
Stock and long term contracts
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
2.6.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3.
Average Number of Employees
The average number of employees, including directors, during the year was 2 (2022: 2)
4.
Tangible Assets
| Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | £ | |
| Cost | |||||
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| Depreciation | |||||
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| Disposals |
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| Net Book Value | |||||
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5.
Debtors
| 2023 | 2022 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 8,699 | 44,234 | |
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J R McGill (Construction) Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2023
6.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
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| £ | £ | ||
| Trade creditors |
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| Other creditors | 2,402 | 9,391 | |
| Taxation and social security |
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7.
Provisions for Liabilities
| Deferred Tax | Total | |
|---|---|---|
| £ | £ | |
| As at
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557 |
| Deferred taxation |
( |
( |
| Balance at
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260 |
The provision for deferred taxation is made up of accelerated capital allowances.
9.
Directors Advances, Credits and Guarantees
The following advances and credits to directors subsisted during the financial year were as follows:
| As at
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Amounts advanced | Amounts repaid | Amounts written off | As at
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| £ | £ | £ | £ | £ | |
| Mr John McGill |
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Other than movements on the directors' loan accounts with the company, there were no other advances, credits and guarantees with the directors during the accounting period.
These loans are unsecured, interest free and repayable on demand.
The above loan was repaid on 27th February 2024.
J R McGill (Construction) Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 September 2023
10.
Related Party Transactions
J R McGill, director, has ultimate control of the company by virtue of his shareholding.
Mr J R McGill is a director and shareholder of Moorpoint Limited. The company traded with Moorpoint Limited during the accounting period generating sales transactions amounting to £28,091 (2022: £20,020) net of Value Added Tax.
Mr J R McGill is a director and shareholder of McGill Estates Limited. The company traded with McGill Estates Limited during the accounting period generating sales transactions amounting to £0 (2022: £980) net of Value Added Tax and purchase transactions amount to £4,400 (2022: £0) net of Value Added Tax.
Mr J R McGill is a director and shareholder of John R McGill Limited. The company traded with John R McGill Limited during the accounting period generating sales transactions amounting to £79,114 (2022: £180,430) net of Value Added Tax.
Mr J R McGill is a proprietor of Property Solutions. The company traded with Property Solutions during the accounting period generating sales transactions amounting to £3,424 (2022: £1,421) net of Value Added Tax.
All transactions were undertaken at arms length.
Other then movements on Mr McGill's loan account with the company, there were no other transactions with the director during the year. Mr McGill's loan account remained in credit throughout the year.
The company's bank overdraft facility is personally guaranteed by the director.