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Registered Number: 03582759
England and Wales

 

 

 

JOHN SCOTT BUILDERS (SOMERSET) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 254    299 
Investments 4 1,394,000    1,394,000 
1,394,254    1,394,299 
Current assets      
Debtors 5 2,523    4,788 
Cash at bank and in hand 11,797    21,084 
14,320    25,872 
Creditors: amount falling due within one year 6 (661,752)   (660,644)
Net current liabilities (647,432)   (634,772)
 
Total assets less current liabilities 746,822    759,527 
Creditors: amount falling due after more than one year 7 (47,782)   (81,134)
Provisions for liabilities 8 (123,731)   (123,739)
Net assets 575,309    554,654 
 

Capital and reserves
     
Called up share capital 9 1,000    1,000 
Reserves 10 527,277    527,277 
Profit and loss account 47,032    26,377 
Shareholder's funds 575,309    554,654 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 October 2023 and were signed on its behalf by:


-------------------------------
Mr N C Scott
Director
1
General Information
John Scott Builders (Somerset) Limited is a private company, limited by shares, registered in England and Wales, registration number 03582759, registration address Thrice Barn, Leigh Street, Leigh Upon Mendip, Radstock, BA3 5QP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Investment properties
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve and recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 April 2022 674    674 
Additions  
Disposals  
At 31 March 2023 674    674 
Depreciation
At 01 April 2022 375    375 
Charge for year 45    45 
On disposals  
At 31 March 2023 420    420 
Net book values
Closing balance as at 31 March 2023 254    254 
Opening balance as at 01 April 2022 299    299 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 April 2022 1,394,000    1,394,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2023 1,394,000    1,394,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors   3,569 
Corporation Tax   941 
VAT 2,523    278 
2,523    4,788 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,650    565 
Bank Loans & Overdrafts (Secured) 33,351    31,255 
Corporation Tax 4,877   
Accrued Expenses 7,097    29,250 
Director: Mr N C Scott 573,153    573,274 
Director: Mr J Y Scott 41,624    26,300 
661,752    660,644 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 47,782    81,134 
47,782    81,134 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 123,731    123,739 
123,731    123,739 

9.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1,000 Ordinary shares of £1.00 each 1,000    1,000 
1,000    1,000 

10.

Reserves

2023
£
  2022
£
Revaluation Reserve b/fwd 527,277    527,277 
527,277    527,277 

11.

Creditors: amounts falling due within and after more than one year

The bank loans have fixed charges over the assets to which they relate and floating charges over all of the property or undertaking of the company.
12.

Investment property

At 31 March 2023 the fair value of the properties in the financial statements was reviewed by the directors based on their knowledge of the property and documented trends in the local property market. During the year ended 31 March 2023 no revaluation was credited to the profit and loss account in accordance with FRS 102.
2