Registered number
12524309
SJS Maintenance and Repairs Limited
Filleted Accounts
31 March 2022
SJS Maintenance and Repairs Limited
Registered number: 12524309
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 8,000 9,000
Tangible assets 4 19,249 8,355
27,249 17,355
Current assets
Stocks 350 260
Debtors 5 3,552 4,521
Cash at bank and in hand 16,166 7,672
20,068 12,453
Creditors: amounts falling due within one year 6 (42,043) (24,529)
Net current liabilities (21,975) (12,076)
Total assets less current liabilities 5,274 5,279
Provisions for liabilities (3,658) (1,385)
Net assets 1,616 3,894
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,606 3,884
Shareholders' funds 1,616 3,894
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The statement of income and retained earnings has not been delivered to the Registrar of Companies.
……………………………………
J Lawrence
Director
Approved by the board on 19 August 2022
SJS Maintenance and Repairs Limited
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
The principal accounting policies adopted in the preparation of the accounts are set out below; they have remained unchanged from the previous period and have been consistently applied:
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland, Section 1A (small entities). There have been no material departures from that standard.
Fundamental accounting concept
The financial statements have been prepared under the going concern concept. In common with many businesses the company has been affected by COVID-19, which has had an impact on its operations, customers and suppliers. The directors are taking all possible steps to protect the future of the business, including the following:
- employees have been furloughed where appropriate and corresponding claims made under the Coronavirus Job Retention Scheme
Although the total impact of COVID-19 on the business is still uncertain, the directors feel that the going concern basis is appropriate.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and VAT. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulated amortisation and impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% on reducing balance
Motor vehicles 10% on reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the 'first in first out' method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 3.00 2.33
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2021 10,000
At 31 March 2022 10,000
Amortisation
At 1 April 2021 1,000
Provided during the year 1,000
At 31 March 2022 2,000
Net book value
At 31 March 2022 8,000
At 31 March 2021 9,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2021 3,073 6,250 9,323
Additions 6,125 12,600 18,725
Disposals - (6,250) (6,250)
At 31 March 2022 9,198 12,600 21,798
Depreciation
At 1 April 2021 319 649 968
Charge for the year 922 1,308 2,230
On disposals - (649) (649)
At 31 March 2022 1,241 1,308 2,549
Net book value
At 31 March 2022 7,957 11,292 19,249
At 31 March 2021 2,754 5,601 8,355
5 Debtors 2022 2021
£ £
Trade debtors 460 2,530
Other debtors 3,092 1,991
3,552 4,521
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 1,947 1,271
Taxation and social security costs - 2,641
Other creditors 40,096 20,617
42,043 24,529
7 Other financial commitments 2022 2021
£ £
Total future minimum payments under non-cancellable operating leases 28,265 -
8 Other information
SJS Maintenance and Repairs Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Ralls House, Parklands Business Park, Forest Road, Denmead, Waterlooville, Hants, PO7 6XP.
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