Registered number
12848241
James Gray Garden Buildings Limited
Filleted Accounts
31 August 2023
James Gray Garden Buildings Limited
Registered number: 12848241
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 132,057 97,583
Current assets
Stocks 87,857 82,106
Debtors 4 114,668 42,924
Cash at bank and in hand 102,023 165,359
304,548 290,389
Creditors: amounts falling due within one year 5 (377,207) (280,285)
Net current (liabilities)/assets (72,659) 10,104
Net assets 59,398 107,687
Capital and reserves
Called up share capital 100 100
Profit and loss account 59,298 107,587
Shareholders' funds 59,398 107,687
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.
J Beardow N Anstey
Director Director
Approved by the board on 13 November 2023
James Gray Garden Buildings Limited
Notes to the Accounts
for the year ended 31 August 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:
Motor vehicles 25% reducing balance
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
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.
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 9 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2022 38,907 81,217 120,124
Additions 11,920 77,570 89,490
Disposals (1,000) (13,317) (14,317)
At 31 August 2023 49,827 145,470 195,297
Depreciation
At 1 September 2022 13,682 8,859 22,541
Charge for the year 13,835 32,052 45,887
On disposals (660) (4,528) (5,188)
At 31 August 2023 26,857 36,383 63,240
Net book value
At 31 August 2023 22,970 109,087 132,057
At 31 August 2022 25,225 72,358 97,583
4 Debtors 2023 2022
£ £
Trade debtors 82,204 13,376
Other debtors 32,464 29,548
114,668 42,924
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 34,760 17,557
Taxation and social security costs 135,109 100,328
Other creditors 207,338 162,400
377,207 280,285
6 Other information
James Gray Garden Buildings Limited is a private company limited by shares and incorporated in England. Its registered office is:
40 Seabourne Road
Bournemouth
Dorset
BH5 2HT
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