Abbreviated Company Accounts - JENNIFER OWEN CONSTRUCTION LIMITED

Abbreviated Company Accounts - JENNIFER OWEN CONSTRUCTION LIMITED

CASTLE INVESTMENTS (SUSSEX) LIMITED - Company Information

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Registered Number 04814098

JENNIFER OWEN CONSTRUCTION LIMITED

Abbreviated Accounts

30 June 2016

JENNIFER OWEN CONSTRUCTION LIMITED Registered Number 04814098

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 73,305 69,288
73,305 69,288
Current assets
Stocks 1,641,301 1,785,424
Debtors 72,468 55,598
Cash at bank and in hand 25,640 10,892
1,739,409 1,851,914
Creditors: amounts falling due within one year (1,464,625) (1,727,499)
Net current assets (liabilities) 274,784 124,415
Total assets less current liabilities 348,089 193,703
Creditors: amounts falling due after more than one year (34,070) (50,038)
Provisions for liabilities (13,958) (13,958)
Total net assets (liabilities) 300,061 129,707
Capital and reserves
Called up share capital 3 1 1
Profit and loss account 300,060 129,706
Shareholders' funds 300,061 129,707
  • For the year ending 30 June 2016 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 March 2017

And signed on their behalf by:
M O Edmonds, Director

JENNIFER OWEN CONSTRUCTION LIMITED Registered Number 04814098

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
In the case of long-term developments, turnover represents the estimated contract revenues on work carried out during the year. Contract revenues are computed on the percentage of completion method, profits being determined after making reserves against all anticipated costs and claims.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Computer equipment 33.3% straight line
Plant and machinery 25% reducing balance

Other accounting policies
Stocks
Work-in-progress is valued at the lower of cost and net realisable value.

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets
£
Cost
At 1 July 2015 113,954
Additions 28,872
Disposals -
Revaluations -
Transfers -
At 30 June 2016 142,826
Depreciation
At 1 July 2015 44,666
Charge for the year 24,855
On disposals -
At 30 June 2016 69,521
Net book values
At 30 June 2016 73,305
At 30 June 2015 69,288
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
1 Ordinary shares of £1 each 1 1