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Company registration number: 05733150
J D Construction (N W) Limited
Unaudited financial statements
31 March 2023
J D Construction (N W) Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
J D Construction (N W) Limited
Directors and other information
Directors David Ball
Julie Anne Ball
Secretary Julie Anne Ball
Company number 05733150
Registered office 8 Haxey Walk
Horwich
Bolton
BL6 5HT
Business address 8 Haxey Walk
Horwich
Bolton
BL6 5HT
Accountants Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
Bankers Barclays
1-5 Market Street
Bolton
BL1 1BU
J D Construction (N W) Limited
Accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of J D Construction (N W) Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J D Construction (N W) Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com.
This report is made solely to the board of directors of J D Construction (N W) Limited, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of J D Construction (N W) Limited and state those matters that we have agreed to state to the board of directors of J D Construction (N W) Limited, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J D Construction (N W) Limited and its board of directors for our work or for this report.
It is your duty to ensure that J D Construction (N W) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J D Construction (N W) Limited. You consider that J D Construction (N W) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of J D Construction (N W) Limited. 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 financial statements.
Leach Briely
Accountants
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
10 August 2023
J D Construction (N W) Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 7 7,660 10,540
_______ _______
7,660 10,540
Current assets
Debtors 8 28,127 25,311
Cash at bank and in hand 10,989 4,410
_______ _______
39,116 29,721
Creditors: amounts falling due
within one year 9 ( 40,548) ( 31,358)
_______ _______
Net current liabilities ( 1,432) ( 1,637)
_______ _______
Total assets less current liabilities 6,228 8,903
Creditors: amounts falling due
after more than one year 10 ( 3,644) ( 6,768)
Provisions for liabilities 11 ( 1,455) ( 2,003)
_______ _______
Net assets 1,129 132
_______ _______
Capital and reserves
Called up share capital 13 100 100
Profit and loss account 1,029 32
_______ _______
Shareholders funds 1,129 132
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 10 August 2023 , and are signed on behalf of the board by:
David Ball
Director
Company registration number: 05733150
J D Construction (N W) Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8 Haxey Walk, Horwich, Bolton, BL6 5HT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for building contracting services, net of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current period. Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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 - 20 % reducing balance
Computer equipment - 33.33 % straight line
Motor vehicle - 25 % reducing balance
Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Interest payable and similar expenses
2023 2022
£ £
Bank loans and overdrafts 169 243
Other loans made to the company:
Finance leases and hire purchase contracts 919 766
_______ _______
1,088 1,009
_______ _______
6. Tax on profit
Major components of tax expense
2023 2022
£ £
Current tax:
UK current tax expense 8,105 6,652
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 548) 1,344
_______ _______
Tax on profit 7,557 7,996
_______ _______
7. Tangible assets
Plant and machinery Computer equipment Motor vehicle Total
£ £ £ £
Cost
At 1 April 2022 and 31 March 2023 2,524 1,375 12,494 16,393
_______ _______ _______ _______
Depreciation
At 1 April 2022 2,455 535 2,863 5,853
Charge for the year 14 458 2,408 2,880
_______ _______ _______ _______
At 31 March 2023 2,469 993 5,271 8,733
_______ _______ _______ _______
Carrying amount
At 31 March 2023 55 382 7,223 7,660
_______ _______ _______ _______
At 31 March 2022 69 840 9,631 10,540
_______ _______ _______ _______
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicle
£
At 31 March 2023 7,223
_______
At 31 March 2022 9,631
_______
8. Debtors
2023 2022
£ £
Trade debtors 6,667 650
Other debtors 21,460 24,661
_______ _______
28,127 25,311
_______ _______
9. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loan 3,468 8,034
Trade creditors 20,031 11,187
Corporation tax 7,105 2,652
Social security and other taxes 4,878 4,319
Other creditors 5,066 5,166
_______ _______
40,548 31,358
_______ _______
10. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 3,644 6,768
_______ _______
11. Provisions
Deferred tax (note 12) Total
£ £
At 1 April 2022 2,003 2,003
Charges against provisions ( 548) ( 548)
_______ _______
At 31 March 2023 1,455 1,455
_______ _______
12. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023 2022
£ £
Included in provisions (note 11) 1,455 2,003
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2023 2022
£ £
Accelerated capital allowances 1,455 2,003
_______ _______
13. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
14. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 8,320 8,320
Later than 1 year and not later than 5 years 16,498 24,818
_______ _______
24,818 33,138
_______ _______
15. Directors advances, credits and guarantees
Other debtors includes £20,659 in respect of an advance made to the company to its directors. The advance is interest free with no specific terms for repayment.