Registration number:
Prepared for the registrar
for the
Year Ended 31 March 2023
J.J.H. (Building Developments) Limited
(Registration number: 01262022)
Balance Sheet as at 31 March 2023
Note |
2023 |
2022 |
|
Current assets |
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Stocks |
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|
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Debtors |
|
|
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Cash at bank and in hand |
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|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net assets |
|
|
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Capital and reserves |
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Called up share capital |
223,332 |
223,332 |
|
Share premium reserve |
14,000 |
14,000 |
|
Profit and loss account |
(27,877) |
(26,303) |
|
Shareholders' funds |
209,455 |
211,029 |
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.
Director's responsibilities:
• |
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
J.J.H. (Building Developments) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's current forecasts and projections, together with the facilities available to the company, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Revenue recognition
Other income comprises rental income received in the ordinary course of the company's activities and is shown net of value added tax.
Tax
The tax expense for the period comprises and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Work in progress
Work in progress is stated at the lower of cost and estimated selling price less costs to complete and sell.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
J.J.H. (Building Developments) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Debtors |
Note |
2023 |
2022 |
|
Amounts owed by related parties |
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Other debtors |
|
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Deferred tax assets |
|
|
|
76,683 |
71,595 |
Creditors |
Note |
2023 |
2022 |
|
Due within one year |
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Other creditors |
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Accrued expenses |
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Related party transactions |
Summary of transactions with other related parties
At 31 March 2023, the company was owed £35,073 (2022 - £35,073) by Cavendish Homes Limited, a company under common control. No interest was charged on this amount, and there are no fixed repayment terms.
At 31 March 2023, the company owed £202,224 (2022 - £202,224) to J Hawtin, the person with significant control over the company. No interest was charged on this amount, and there are no fixed repayment terms.