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COMPANY REGISTRATION NUMBER: 08823549
J Stock Building & Property Maintenance Ltd
Filleted Unaudited Financial Statements
31 December 2021
J Stock Building & Property Maintenance Ltd
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
6
9,337
12,447
Current assets
Stocks
2,400
2,350
Debtors
7
10,993
17,409
--------
--------
13,393
19,759
Creditors: amounts falling due within one year
8
52,398
44,499
--------
--------
Net current liabilities
39,005
24,740
--------
--------
Total assets less current liabilities
( 29,668)
( 12,293)
Creditors: amounts falling due after more than one year
9
943
5,877
--------
--------
Net liabilities
( 30,611)
( 18,170)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 30,612)
( 18,171)
--------
--------
Shareholders deficit
( 30,611)
( 18,170)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J Stock Building & Property Maintenance Ltd
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 16 May 2022 , and are signed on behalf of the board by:
J Stock Esq
Director
Company registration number: 08823549
J Stock Building & Property Maintenance Ltd
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
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 and machinery
-
25% reducing balance
Fixtures, fittings and equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Stocks
Stocks are measured 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 the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2021 and 31 December 2021
20,000
--------
Amortisation
At 1 January 2021 and 31 December 2021
20,000
--------
Carrying amount
At 31 December 2021
--------
At 31 December 2020
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2021 and 31 December 2021
4,874
2,447
23,650
30,971
-------
-------
--------
--------
Depreciation
At 1 January 2021
4,018
1,843
12,663
18,524
Charge for the year
214
150
2,746
3,110
-------
-------
--------
--------
At 31 December 2021
4,232
1,993
15,409
21,634
-------
-------
--------
--------
Carrying amount
At 31 December 2021
642
454
8,241
9,337
-------
-------
--------
--------
At 31 December 2020
856
604
10,987
12,447
-------
-------
--------
--------
7. Debtors
2021
2020
£
£
Trade debtors
1,025
11,716
Other debtors
9,968
5,693
--------
--------
10,993
17,409
--------
--------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
5,868
2,138
Trade creditors
243
242
Other creditors
46,287
42,119
--------
--------
52,398
44,499
--------
--------
9. Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
943
5,877
----
-------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
J Stock Esq
( 29,199)
( 4,322)
( 33,521)
--------
-------
--------
2020
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
J Stock Esq
( 26,105)
( 3,094)
( 29,199)
--------
-------
--------