J K Construction & Building Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07331551 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2018

for

J K Construction & Building Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Flynn

A S Potts

REGISTERED OFFICE:

117 - 119 Cleethorpe Road

Grimsby

North East Lincs

DN31 3ET

REGISTERED NUMBER:

07331551 (England and Wales)

FIXED ASSETS

Tangible assets

4

53,368

14,610

CURRENT ASSETS

Stocks

86,227

70,000

Debtors

5

23,987

164,966

Cash at bank

96,688

47,559

206,902

282,525

CREDITORS

Amounts falling due within one year

6

94,034

95,535

NET CURRENT ASSETS

112,868

186,990

TOTAL ASSETS LESS CURRENT LIABILITIES

166,236

201,600

CREDITORS

Amounts falling due after more than one year

7

(42,705

)

(15,444

)

PROVISIONS FOR LIABILITIES

(10,140

)

(2,873

)

NET ASSETS

113,391

183,283

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

113,387

183,279

SHAREHOLDERS' FUNDS

113,391

183,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 December 2018 and were signed on its behalf by:

M A Flynn - Director

1.	STATUTORY INFORMATION

J K Construction & Building Services 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.

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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Tangible fixed assets are depreciated at the following rates:

Computer equipment

25% on cost

Plant and machinery

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2017

39,408

Additions

58,850

Disposals

(27,300

)

At 31 July 2018

70,958

DEPRECIATION

At 1 August 2017

24,798

Charge for year

6,442

Eliminated on disposal

(13,650

)

At 31 July 2018

17,590

NET BOOK VALUE

At 31 July 2018

53,368

At 31 July 2017

14,610

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 August 2017

27,300

Additions

58,850

Disposals

(27,300

)

At 31 July 2018

58,850

DEPRECIATION

At 1 August 2017

13,650

Charge for year

6,010

Eliminated on disposal

(13,650

)

At 31 July 2018

6,010

NET BOOK VALUE

At 31 July 2018

52,840

At 31 July 2017

13,650

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Trade debtors

218

158,056

Other debtors

23,769

6,910

23,987

164,966

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.18

31.7.17

£

£

Hire purchase contracts

10,190

3,426

Trade creditors

52,835

29,802

Taxation and social security

4,222

42,574

Other creditors

26,787

19,733

94,034

95,535

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.18

31.7.17

£

£

Hire purchase contracts

42,705

15,444

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.18

31.7.17

£

£

Hire purchase contracts

52,895

18,870

9.	RELATED PARTY DISCLOSURES

During the year the company had the following related party transactions:

2018

2017

Sales

£Nil

£665,000

Management charges

£Nil

£120,000

Balance owed from a related party

£Nil

£120,000

The related party is a company in which Mr M Flynn and Mr A Potts are also directors.

10.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the issued share capital.