JCJ Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05409232 (England and Wales)

JCJ Developments Limited

Financial Statements

for the Year Ended 30 April 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs C J Townend

Mr J H Townend

SECRETARY:

Mrs C J Townend

REGISTERED OFFICE:

33 George Street

Wakefield

West Yorkshire

WF1 1LX

REGISTERED NUMBER:

05409232 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

3

-

549

Investment property

4

510,000

510,000

510,000

510,549

CURRENT ASSETS

Stocks

241,228

181,264

Debtors

5

-

3,267

Cash at bank

250

2,048

241,478

186,579

CREDITORS

Amounts falling due within one year

6

305,593

250,361

NET CURRENT LIABILITIES

(64,115

)

(63,782

)

TOTAL ASSETS LESS CURRENT LIABILITIES

445,885

446,767

CREDITORS

Amounts falling due after more than one year

7

270,418

270,108

NET ASSETS

175,467

176,659

CAPITAL AND RESERVES

Called up share capital

9

2

2

Retained earnings

10

175,465

176,657

SHAREHOLDERS' FUNDS

175,467

176,659

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 31 January 2019 and were signed on its behalf by:

Mr J H Townend - Director

1.	STATUTORY INFORMATION

JCJ Developments 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 functional and presentation currency for the company is the pound sterling (£). All financial information

presented has been rounded to the nearest (£), unless otherwise stated.

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 as modified by the revaluation of certain assets.

Going concern

The directors are of the opinion that the company continues to be a going concern and have therefore adopted

that basis in the preparation of the financial statements.

Turnover

Turnover in respect of speculative property development is recognised once the sale has completed.

Turnover generated from the investment properties represents rents receivable in the ordinary course of business

and is recognised on an accruals basis.

Tangible fixed assets

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

Motor vehicles

-

25% on reducing balance

Fixed assets are initially recorded at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of

activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the

valuation of work in progress.

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.

3.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 May 2017

17,500

Disposals

(17,500

)

At 30 April 2018

-

DEPRECIATION

At 1 May 2017

16,951

Charge for year

136

Eliminated on disposal

(17,087

)

At 30 April 2018

-

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

549

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

and 30 April 2018

510,000

NET BOOK VALUE

At 30 April 2018

510,000

At 30 April 2017

510,000

In the opinion of the directors the current carrying value of the investment properties reflects the fair value.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

VAT

-

3,267

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

11,741

18,443

Tax

-

541

VAT

5,707

-

Directors' current accounts

286,885

229,878

Accruals and deferred income

1,260

1,499

305,593

250,361

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

270,418

270,108

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

282,159

288,551

Bank borrowings are secured by way of a fixed and floating charges over the undertaking and all property and

assets present and future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and

machinery.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

10.

RESERVES

Included within retained earnings is £183,005 (2017: £183,005) which is non-distributable as it is in respect of

the cumulative fair value gains on the fixed asset investments of the company.

11.	RELATED PARTY DISCLOSURES