JP Construction & Development Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07306181 (England and Wales)

JP CONSTRUCTION

& DEVELOPMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

31 DECEMBER 2015 TO 29 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

R D Hughes

C J Perrett

Mrs H L Hughes

D A Gammon

SECRETARY:

R D Hughes

REGISTERED OFFICE:

3 New Mill Court

Swansea Enterprise Park

Swansea

SA7 9FG

REGISTERED NUMBER:

07306181 (England and Wales)

ACCOUNTANTS:

Gerald Thomas

Chartered Accountants

3 New Mill Court

Swansea Enterprise Park

Swansea

SA7 9FG

FIXED ASSETS

Tangible assets

4

52,054

10,808

CURRENT ASSETS

Stocks

104,046

119,932

Debtors

5

240,376

202,714

Cash at bank

130,888

46,971

475,310

369,617

CREDITORS

Amounts falling due within one year

6

331,278

251,119

NET CURRENT ASSETS

144,032

118,498

TOTAL ASSETS LESS CURRENT LIABILITIES

196,086

129,306

CREDITORS

Amounts falling due after more than one year

7

(31,722

)

-

PROVISIONS FOR LIABILITIES

8

(5,120

)

-

ACCRUALS AND DEFERRED INCOME

(5,542

)

-

NET ASSETS

153,702

129,306

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

153,602

129,206

SHAREHOLDERS' FUNDS

153,702

129,306

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 December 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 18 December 2017 and were signed on its behalf by:

R D Hughes - Director

1.	STATUTORY INFORMATION

JP Construction & Development 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The directors have assessed the statement of financial position and likely future cash flows of the

company at the date of approving the financial statements. The directors have a reasonable

expectation that the company has adequate resources to continue in operational existence for the

foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing

the financial statements.

Turnover and revenue recognition

Turnover consists of the amount of work invoiced for services rendered and the value of certificates

issued during the year net of value added tax. Revenue is recognised evenly over the period in which

the work was undertaken.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Stock and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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

Current tax is recognised at the amount payable using the tax rates and laws that have been enacted

or substantively enacted by the statement of financial position 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 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.

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially

measured at transaction price unless the arrangement constitutes a financing transaction, where the

transaction is measured at the present value of the future receipts discounted at a market rate of

interest.

Basic financial liabilities, including trade and other creditors and bank loans, are initially recognised at

transaction price unless the arrangement constitutes a financing transaction, where the debt

instrument is measured at the present value of the future receipts discounted at a market rate of

interest.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2015 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 31 December 2015

30,005

-

4,902

34,907

Additions

-

61,585

-

61,585

At 29 December 2016

30,005

61,585

4,902

96,492

DEPRECIATION

At 31 December 2015

20,098

-

4,001

24,099

Charge for period

7,128

12,830

381

20,339

At 29 December 2016

27,226

12,830

4,382

44,438

NET BOOK VALUE

At 29 December 2016

2,779

48,755

520

52,054

At 30 December 2015

9,907

-

901

10,808

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

233,533

195,005

Other debtors

6,843

7,709

240,376

202,714

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Hire purchase contracts

3,095

-

Trade creditors

65,679

79,684

Taxation and social security

23,758

17,184

Other creditors

238,746

154,251

331,278

251,119

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

31,722

-

8.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

5,120

-

Deferred

tax

£

Movement in year

5,120

Balance at 29 December 2016

5,120

The deferred tax provision was in respect of accelerated capital allowances.

9.	TRANSACTIONS WITH DIRECTORS

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under the Financial

Reporting Standard 102 Section 1A small entities (FRS 102 1A) issued by the Financial Reporting

Council. The following disclosures are required in the year of transition. The last financial statements

under the previous Financial Reporting Standard for Smaller Entities (effective January 2015) (under

UK GAAP for Smaller Entities) were for the year ended 30 December 2016 and the date of transition to

FRS 102 1A was therefore 1 January 2015. No adjustments have been made as a result of the

transition.