Registration number:
CJC Surfacing Ltd
for the Period from 15 October 2021 to 31 March 2022
CJC Surfacing Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
CJC Surfacing Ltd
Company Information
Directors |
Mr C M Smith Mr C Rogers Mr J Ross |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
CJC Surfacing Ltd
for the Period Ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CJC Surfacing Ltd for the period ended 31 March 2022 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Acountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance
This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information of CJC Surfacing Ltd and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Institute of Chartered Acountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company for our work or for this report.
It is your duty to ensure that CJC Surfacing Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CJC Surfacing Ltd. You consider that CJC Surfacing Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of CJC Surfacing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Edinburgh
Lothian
EH9 3DP
CJC Surfacing Ltd
(Registration number: SC712352)
Balance Sheet as at 31 March 2022
Note |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100,002 |
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Retained earnings |
39,997 |
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Shareholders' funds |
139,999 |
For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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CJC Surfacing Ltd
Notes to the Unaudited Financial Statements for the Period from 15 October 2021 to 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The presentation currency is sterling.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis. The directors considers this basis is appropriate as the company is supported by the value of its investments and it continues to meet its working capital requirements as they fall due from the activities of its subsidiary.
Turnover
Turnover comprises dividends received from the company's subsidiary company and is recognised when dividends are declared.
Tax
Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. There is currently no deferred tax liability.
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.
Investments
Investments in subsidiary companies are recognised at cost less impairment. Gains or losses on disposal of these investments are recognised in the profit and loss account.
CJC Surfacing Ltd
Notes to the Unaudited Financial Statements for the Period from 15 October 2021 to 31 March 2022
Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Financial instruments
Classification
Recognition and measurement
Basic financial assets, including bank balances and prepayments, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
CJC Surfacing Ltd
Notes to the Unaudited Financial Statements for the Period from 15 October 2021 to 31 March 2022
Investments |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost |
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Additions |
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Provision |
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Carrying amount |
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At 31 March 2022 |
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Debtors |
Current |
2022 |
Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
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Due within one year |
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Loans and borrowings |
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Creditors: amounts falling due after more than one year
Note |
2022 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2022 |
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No. |
£ |
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100,002 |
100,002 ordinary shares of £1 each were issued at par during the period.
CJC Surfacing Ltd
Notes to the Unaudited Financial Statements for the Period from 15 October 2021 to 31 March 2022
Loans and borrowings |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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2022 |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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Loans and borrowings include a bank loan balance of £400,000 which is secured by a floating charge over the property, assets and undertaking of the company and its subsidiary in favour of the Royal Bank of Scotland plc.
Other borrowings of £49,826 comprises a balance due to the company's subsidiary company J Sives Surfacing Limited. No interest is charged on this loan and it is payable on demand.