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REGISTERED NUMBER: 10135510 (England and Wales)















Financial Statements

for the Year Ended 31 March 2023

for

FJC Developments Ltd

FJC Developments Ltd (Registered number: 10135510)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


FJC Developments Ltd

Company Information
for the Year Ended 31 March 2023







DIRECTORS: F J Curwen
P J Curwen





REGISTERED OFFICE: Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA





REGISTERED NUMBER: 10135510 (England and Wales)





ACCOUNTANTS: Barnbrook Sinclair
Chartered Accountants
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

FJC Developments Ltd (Registered number: 10135510)

Statement of Financial Position
31 March 2023

31/3/23 31/3/22
Notes £    £   
CURRENT ASSETS
Inventories 1,059,268 921,395
Debtors 5 20,175 5,695
Cash at bank 1,218 1,335
1,080,661 928,425
CREDITORS
Amounts falling due within one year 6 (1,078,156 ) (977,128 )
NET CURRENT ASSETS/(LIABILITIES) 2,505 (48,703 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,505

(48,703

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,405 (48,803 )
SHAREHOLDERS' FUNDS 2,505 (48,703 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by:





P J Curwen - Director


FJC Developments Ltd (Registered number: 10135510)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

FJC Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income on development stock is recognised on a straight-line basis over the lease term and is presented within other operating income.

Construction contracts
When the outcome of a construction contract can be estimated reliably and it is probable that the contract will be profitable, turnover and costs are recognised over the period of the contract.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

When the outcome of a construction contract cannot be estimated reliably, contract turnover is recognised only to the extent of contract costs that are recoverable and the contract costs are expensed as incurred.

Stocks
Stocks consist of development projects and are valued at the lower of cost and estimated selling price less costs to complete and sell. At each reporting date, the company assesses whether stocks are impaired or if an impairment loss recognised in prior periods has reversed. Any excess of the carrying amount of development stock over its estimated selling price less costs to complete and sell, is recognised as an impairment loss in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


FJC Developments Ltd (Registered number: 10135510)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
The directors are satisfied that the company should prepare accounts on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 2,760 672
Other debtors 17,415 5,023
20,175 5,695

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 26,362 15,417
Amounts owed to associates 470,095 712,744
Taxation and social security 776 -
Other creditors 580,923 248,967
1,078,156 977,128

7. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Other creditors 420,000 -

Creditors include amounts secured by a debenture over the assets of the Company.

8. RELATED PARTY DISCLOSURES

Included within other creditors is a loan from the directors totalling £160,253 (2022: £247,517). No interest has been charged on this loan.