L & J CONTRACTS LIMITED

L & J CONTRACTS LIMITED

L & J CONTRACTS LIMITED - Company Information

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L & J CONTRACTS LIMITED

Company Registration Number:
05931648 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2018

Period of accounts

Start date: 01 April 2017

End date: 31 March 2018

L & J CONTRACTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2018

Balance sheet
Notes

L & J CONTRACTS LIMITED

Balance sheet

As at 31 March 2018


Notes
2018
2017


£
£
Fixed assets
Tangible assets: 3 17,168 23,942
Total fixed assets: 17,168 23,942
Current assets
Debtors: 4 207,459 7,331
Cash at bank and in hand: 186,681 363,829
Total current assets: 394,140 371,160
Creditors: amounts falling due within one year: 5 (275,865) (245,737)
Net current assets (liabilities): 118,275 125,423
Total assets less current liabilities: 135,443 149,365
Total net assets (liabilities): 135,443 149,365
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 135,343 149,265
Shareholders funds: 135,443 149,365

The notes form part of these financial statements

L & J CONTRACTS LIMITED

Balance sheet statements

For the year ending 31 March 2018 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 October 2018
and signed on behalf of the board by:

Name: L Feltham
Status: Director

The notes form part of these financial statements

L & J CONTRACTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows Plant & Machinery and Motor Vehicles 25% reducing balance. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Other accounting policies

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

L & J CONTRACTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

2. Employees

2018 2017
Average number of employees during the period 4 3

L & J CONTRACTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

3. Tangible Assets

Total
Cost £
At 01 April 2017 42,543
At 31 March 2018 42,543
Depreciation
At 01 April 2017 18,601
Charge for year 6,774
At 31 March 2018 25,375
Net book value
At 31 March 2018 17,168
At 31 March 2017 23,942

L & J CONTRACTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

4. Debtors

Trade Debtors £207,459

L & J CONTRACTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2018

5. Creditors: amounts falling due within one year note

Trade Creditors £176,563Corporation Tax £6,028Social Security and Other Taxes £48,489Other Creditors £44,785