Company registration number 11852791 (England and Wales)
CJ MAINTENANCE SOUTH WALES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
CJ MAINTENANCE SOUTH WALES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
CJ MAINTENANCE SOUTH WALES LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,308
15,800
Current assets
Debtors
4
2,416
5,850
Cash at bank and in hand
4,509
7,487
6,925
13,337
Creditors: amounts falling due within one year
5
(11,461)
(19,062)
Net current liabilities
(4,536)
(5,725)
Total assets less current liabilities
6,772
10,075
Creditors: amounts falling due after more than one year
6
(6,498)
(9,226)
Provisions for liabilities
(546)
(697)
Net (liabilities)/assets
(272)
152
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(372)
52
Total equity
(272)
152
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
CJ MAINTENANCE SOUTH WALES LTD
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 15 May 2023
Mrs L A Jenkyn
Director
Company Registration No. 11852791
CJ MAINTENANCE SOUTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information
CJ Maintenance South Wales Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/o UHY Hacker Young, 23 Nevill Street, Abergavenny, Monmouthshire, United Kingdom, NP7 5AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company meets its day-to-day working capital requirements through the ongoing support of its bank, trade creditors, directors and other creditors. If this support is removed, it may not be appropriate for the financial statements to be prepared on a going concern basis and as such the company's assets and liabilities may need to be restated.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from repairs and maintenance services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% Straight line
Fixtures and fittings
20% Straight line
Computers
On cost over three years
Motor vehicles
20% Straight line
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.
CJ MAINTENANCE SOUTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
CJ MAINTENANCE SOUTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
4
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 March 2022
4,831
388
1,325
19,000
25,544
Additions
500
158
658
At 28 February 2023
4,831
888
1,483
19,000
26,202
Depreciation and impairment
At 1 March 2022
2,417
181
813
6,333
9,744
Depreciation charged in the year
966
113
271
3,800
5,150
At 28 February 2023
3,383
294
1,084
10,133
14,894
Carrying amount
At 28 February 2023
1,448
594
399
8,867
11,308
At 28 February 2022
2,414
207
512
12,667
15,800
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,141
5,369
Other debtors
275
481
2,416
5,850
5
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
6,675
9,864
Other creditors
4,786
9,198
11,461
19,062
CJ MAINTENANCE SOUTH WALES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
5
Creditors: amounts falling due within one year
(Continued)
- 6 -
The secured debts included within creditors are finance leases of £2,728 (2022: £2,728), secured over the company's assets.
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
6,498
9,226
The secured debts included within creditors are finance leases of £6,498 (2022: £9,226), secured over the company's assets.
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
8
Directors' transactions
The director operates a current loan account with the company which is debited with payments made on her behalf and credited with funds introduced and undrawn director's fees. The amount owed by the company at 28 February 2023 was £192 (2022: £1,008) and is included in creditors; amounts falling due within one year.