Registered number
SC301538
JOHN MARTIN & SON CONTRACTORS LTD
Filleted Accounts
30 April 2023
JOHN MARTIN & SON CONTRACTORS LTD
Registered number: SC301538
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 166,656 200,885
Current assets
Stocks 1,000 1,000
Debtors 4 16,420 33,807
17,420 34,807
Creditors: amounts falling due within one year 5 (120,776) (105,120)
Net current liabilities (103,356) (70,313)
Total assets less current liabilities 63,300 130,572
Creditors: amounts falling due after more than one year 6 (37,935) (54,967)
Provisions for liabilities (30,621) (37,059)
Net (liabilities)/assets (5,256) 38,546
Capital and reserves
Called up share capital 1 1
Profit and loss account (5,257) 38,545
Shareholders' funds (5,256) 38,546
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
John Martin
Director
Approved by the board on 25 October 2023
JOHN MARTIN & SON CONTRACTORS LTD
Notes to the Accounts
for the year ended 30 April 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 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 15% of cost
Office equipment 15% of cost
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 7
3 Tangible fixed assets
Plant and machinery etc Office Equipment Total
£ £ £
Cost
At 1 May 2022 498,118 5,199 503,317
Additions 38,093 704 38,797
Disposals (5,000) - (5,000)
At 30 April 2023 531,211 5,903 537,114
Depreciation
At 1 May 2022 299,367 3,065 302,432
Charge for the year 72,158 868 73,026
On disposals (5,000) - (5,000)
At 30 April 2023 366,525 3,933 370,458
Net book value
At 30 April 2023 164,686 1,970 166,656
At 30 April 2022 198,751 2,134 200,885
4 Debtors 2023 2022
£ £
Trade debtors 16,420 33,807
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 26,779 23,790
Obligations under finance lease and hire purchase contracts 7,140 7,140
Trade creditors 45,989 23,741
Corporation tax 7,626 5,855
Other taxes and social security costs (1,888) 7,586
Other creditors 35,130 37,008
120,776 105,120
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 24,942 34,834
Obligations under finance lease and hire purchase contracts 12,993 20,133
37,935 54,967
7 Other information
JOHN MARTIN & SON CONTRACTORS LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
Kerrknowe
Gartocharn
Alexandria
G83 8SB
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