Registered number
NI666838
JPD Builders Ltd
Filleted Accounts
31 January 2023
JPD Builders Ltd
Registered number: NI666838
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,721 1,298
Current assets
Stocks 98,840 97,188
Debtors 4 6,337 3,589
Cash at bank and in hand 25,838 -
131,015 100,777
Creditors: amounts falling due within one year 5 (122,990) (99,730)
Net current assets 8,025 1,047
Total assets less current liabilities 12,746 2,345
Provisions for liabilities (897) (179)
Net assets 11,849 2,166
Capital and reserves
Profit and loss account 11,849 2,166
Shareholder's funds 11,849 2,166
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
James Donnelly
Director
Approved by the board on 10 October 2023
JPD Builders Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 1,639
Additions 4,674
At 31 January 2023 6,313
Depreciation
At 1 February 2022 341
Charge for the year 1,251
At 31 January 2023 1,592
Net book value
At 31 January 2023 4,721
At 31 January 2022 1,298
4 Debtors 2023 2022
£ £
Other debtors 6,337 3,589
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,113 5,032
Trade creditors 30,911 11,305
Taxation and social security costs (5,178) (703)
Other creditors 93,144 84,096
122,990 99,730
6 Related party transactions
There were no transactions with related parties during the year.
7 Controlling party
The director is the controlling party.
8 Other information
JPD Builders Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
58 Lakemount Road
Dromore
Omagh
County Tyrone
BT78 3HQ
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