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COMPANY REGISTRATION NUMBER: 07209781
J A MASONRY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
4 April 2023
J A MASONRY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 4th APRIL 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 7
J A MASONRY LIMITED
STATEMENT OF FINANCIAL POSITION
4 April 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
3,877
4,760
CURRENT ASSETS
Stocks
6
100
170
Debtors
7
30,185
36,385
Cash at bank and in hand
10,620
4,545
---------
---------
40,905
41,100
CREDITORS: amounts falling due within one year
8
13,062
3,660
---------
---------
NET CURRENT ASSETS
27,843
37,440
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
31,720
42,200
PROVISIONS
Taxation including deferred tax
969
904
---------
---------
NET ASSETS
30,751
41,296
---------
---------
CAPITAL AND RESERVES
Called up share capital
10
100
100
Profit and loss account
30,651
41,196
---------
---------
SHAREHOLDERS FUNDS
30,751
41,296
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 4th April 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J A MASONRY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
4 April 2023
These financial statements were approved by the board of directors and authorised for issue on 28 March 2024 , and are signed on behalf of the board by:
J. Ashley
Director
Company registration number: 07209781
J A MASONRY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 4th APRIL 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 73 Bondicar Terrace, Blyth, Northumberland, NE24 2JR.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Going concern
The financial statements have been prepared on the going concern basis. The director considers that this basis is appropriate following due consideration of the present financial position, the expected prospects of the company during the twelve months from the date of approval of these financial statements and the continued support of the company's director, bankers and other lending agents during this time.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Tools and equipment
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Hire purchase contracts
Assets held under hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum hire purchase payments, which is determined at the inception of the hire purchase term. Any initial direct costs of the hire purchase contract are added to the amount recognised as an asset. Hire purchase payments are apportioned between the finance charges and reduction of the outstanding hire purchase liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Motor vehicles
Tools and equipment
Total
£
£
£
Cost
At 5th April 2022
13,960
2,520
16,480
Additions
192
192
---------
-------
---------
At 4th April 2023
13,960
2,712
16,672
---------
-------
---------
Depreciation
At 5th April 2022
10,463
1,257
11,720
Charge for the year
874
201
1,075
---------
-------
---------
At 4th April 2023
11,337
1,458
12,795
---------
-------
---------
Carrying amount
At 4th April 2023
2,623
1,254
3,877
---------
-------
---------
At 4th April 2022
3,497
1,263
4,760
---------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 4th April 2023
----
At 4th April 2022
3,497
-------
6. STOCKS
2023
2022
£
£
Raw materials and consumables
100
170
----
----
7. DEBTORS
2023
2022
£
£
Trade debtors
12,284
Other debtors
30,185
24,101
---------
---------
30,185
36,385
---------
---------
8. CREDITORS: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
2,068
2,033
Obligations under finance leases and hire purchase contracts
433
Director loan accounts
10,994
1,194
---------
-------
13,062
3,660
---------
-------
The hire purchase contract, included within creditors: amounts falling due within one year, is secured against the asset that is funded in this way.
9. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2023
2022
£
£
Included in provisions
969
904
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
969
904
----
----
10. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
11. RELATED PARTY TRANSACTIONS
No transactions with related parties were undertaken such are required to be to be disclosed under FRS 102 Section 1A small entities.