JC Construction (Midlands) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03479899 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2018

for

JC Construction (Midlands) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

J T Sears

Mrs A Sears

T F Sears

REGISTERED OFFICE:

Unit 6A Gatehouse Trading Estate

Lichfield Road

Brownhills

Walsall

West Midlands

WS8 6JZ

REGISTERED NUMBER:

03479899 (England and Wales)

ACCOUNTANTS:

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

FIXED ASSETS

Tangible assets

5

44,209

26,678

CURRENT ASSETS

Stocks

82,216

42,125

Debtors

6

560,592

76,930

Cash at bank

159,745

607,013

802,553

726,068

CREDITORS

Amounts falling due within one year

7

(291,277

)

(247,772

)

NET CURRENT ASSETS

511,276

478,296

TOTAL ASSETS LESS CURRENT LIABILITIES

555,485

504,974

PROVISIONS FOR LIABILITIES

(5,556

)

(5,069

)

NET ASSETS

549,929

499,905

CAPITAL AND RESERVES

Called up share capital

8

250

250

Capital redemption reserve

9

250

250

Retained earnings

9

549,429

499,405

SHAREHOLDERS' FUNDS

549,929

499,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 13 August 2018 and were signed on its behalf by:

J T Sears - Director

1.	STATUTORY INFORMATION

JC Construction (Midlands) Limited 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.	STATEMENT OF COMPLIANCE

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. There are no material departures from the Standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Long leasehold

-

Straight line over the life of the lease

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all

costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and

condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and

slow-moving stock where appropriate.

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 11 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 July 2017

8,665

7,904

11,483

51,815

79,867

Additions

16,935

-

-

13,756

30,691

Disposals

-

-

-

(12,775

)

(12,775

)

At 30 June 2018

25,600

7,904

11,483

52,796

97,783

DEPRECIATION

At 1 July 2017

8,665

7,472

11,060

25,992

53,189

Charge for year

2,540

88

84

6,434

9,146

Eliminated on disposal

-

-

-

(8,761

)

(8,761

)

At 30 June 2018

11,205

7,560

11,144

23,665

53,574

NET BOOK VALUE

At 30 June 2018

14,395

344

339

29,131

44,209

At 30 June 2017

-

432

423

25,823

26,678

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

242,812

76,930

Amounts owed by group undertakings

317,780

-

560,592

76,930

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

174,597

81,349

Taxation and social security

74,524

98,873

Other creditors

42,156

67,550

291,277

247,772

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

137

Ordinary 'A'

£1

137

137

100

Ordinary 'B'

£1

100

100

13

Ordinary 'C'

£1

13

13

250

250

All shares rank pari-passu in all respects except that each class of share shall be entitled to dividends on a

discretionary basis as a separate class right.

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 July 2017

499,405

250

499,655

Profit for the year

65,024

65,024

Dividends

(15,000

)

(15,000

)

At 30 June 2018

549,429

250

549,679

10.	RELATED PARTY DISCLOSURES

TFS Holdings (Midlands) Limited

Parent company

The loan comprises of an amount that is due from the parent company TFS Holdings (Midlands) Limited. The

loan is repayable on demand, however, the directors of J C Construction (Midlands) Limited have agreed that the

repayment will not be demanded until such time as the parent company can afford to do so without detriment to

its operating and working capital needs. There is no right to interest being paid on this loan.

2018

2017

£

£

Amount due from related party at the balance sheet date

317,780

-

11.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of JC Construction (Midlands) Limited for the year ended 30 June 2018 which comprise the Profit

and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JC Construction (Midlands) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JC Construction (Midlands) Limited and state those matters that we have agreed to state to the Board of Directors of JC Construction (Midlands) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JC Construction (Midlands) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JC Construction (Midlands) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JC Construction (Midlands) Limited. You consider that JC Construction (Midlands) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JC Construction (Midlands) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Tomkinson Teal Limited

Hanover Court

5 Queen Street

Lichfield

Staffordshire

WS13 6QD

13 August 2018