Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr J B Black 10/06/2010 Mrs W Black 01/04/2017 16 October 2023 The principal activity of the company continued to be the provision of I.T. and management consultancy services and property rental. SC380118 2023-03-31 SC380118 bus:Director1 2023-03-31 SC380118 bus:Director2 2023-03-31 SC380118 2022-03-31 SC380118 core:CurrentFinancialInstruments 2023-03-31 SC380118 core:CurrentFinancialInstruments 2022-03-31 SC380118 core:ShareCapital 2023-03-31 SC380118 core:ShareCapital 2022-03-31 SC380118 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC380118 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC380118 core:OtherPropertyPlantEquipment 2022-03-31 SC380118 core:OtherPropertyPlantEquipment 2023-03-31 SC380118 2021-03-31 SC380118 bus:OrdinaryShareClass1 2023-03-31 SC380118 bus:OrdinaryShareClass2 2023-03-31 SC380118 core:KeyManagementPersonnel 2023-03-31 SC380118 core:KeyManagementPersonnel 2022-03-31 SC380118 2022-04-01 2023-03-31 SC380118 bus:FullAccounts 2022-04-01 2023-03-31 SC380118 bus:SmallEntities 2022-04-01 2023-03-31 SC380118 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC380118 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC380118 bus:Director1 2022-04-01 2023-03-31 SC380118 bus:Director2 2022-04-01 2023-03-31 SC380118 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 SC380118 2021-04-01 2022-03-31 SC380118 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC380118 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 SC380118 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 SC380118 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 SC380118 core:KeyManagementPersonnel 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC380118 (Scotland)

JBB CONTRACTING LTD.

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

JBB CONTRACTING LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

JBB CONTRACTING LTD.

BALANCE SHEET

AS AT 31 MARCH 2023
JBB CONTRACTING LTD.

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 501 668
Investment property 4 189,413 189,413
189,914 190,081
Current assets
Debtors 5 1,406 4,563
Cash at bank and in hand 6 44,162 61,459
45,568 66,022
Creditors: amounts falling due within one year 7 ( 105,038) ( 127,659)
Net current liabilities (59,470) (61,637)
Total assets less current liabilities 130,444 128,444
Provision for liabilities 8, 9 ( 125) ( 167)
Net assets 130,319 128,277
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 130,219 128,177
Total shareholders' funds 130,319 128,277

For the financial 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 financial statements of JBB Contracting Ltd. (registered number: SC380118) were approved and authorised for issue by the Director on 16 October 2023. They were signed on its behalf by:

Mr J B Black
Director
JBB CONTRACTING LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
JBB CONTRACTING LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

JBB Contracting Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 66 Tay Street, Perth, PH2 8RA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. The directors also confirm that they will not seek repayment of their directors' loan until all other creditors have been met. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for IT and management consultancy services net of VAT and rental income.

Consultancy income is recognised when the company has entitlement to the income in exchange for the provision of services.

Rental income is recognised on a straight line basis over the term of the relevant lease.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Deferred tax provisions are recognised when the Company has a present obligation as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 2,327 2,327
At 31 March 2023 2,327 2,327
Accumulated depreciation
At 01 April 2022 1,659 1,659
Charge for the financial year 167 167
At 31 March 2023 1,826 1,826
Net book value
At 31 March 2023 501 501
At 31 March 2022 668 668

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 189,413
As at 31 March 2023 189,413

The fair value of the investment properties held by the business is the cost of the properties when purchased. The directors consider that there has been no material change in the value of the properties since that date.

5. Debtors

2023 2022
£ £
Trade debtors 0 3,483
Other debtors 1,406 1,080
1,406 4,563

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 44,162 61,459

7. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 7,298 11,393
Other taxation and social security 973 4,054
Other creditors 96,767 112,212
105,038 127,659

8. Provision for liabilities

2023 2022
£ £
Deferred tax 125 167

9. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 167) ( 103)
Credited/(charged) to the Statement of Income and Retained Earnings 42 ( 64)
At the end of financial year ( 125) ( 167)

10. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
50 A ordinary shares of £ 1.00 each 50 50
50 B ordinary shares of £ 1.00 each 50 50
100 100

11. Related party transactions

Transactions with the entity’s directors (or members of its governing body)

Amounts owed to directors

2023 2022
£ £
Directors loan account 94,417 109,912

The above loan is unsecured, interest free and the directors have confirmed that they will not seek repayment until all other creditors are met and cash flow allows.