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REGISTERED NUMBER: SC282327 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Chris Jones (Building Contractors)
Limited

Chris Jones (Building Contractors)
Limited (Registered number: SC282327)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


Chris Jones (Building Contractors)
Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: C Jones
Mrs S Jones





REGISTERED OFFICE: c/o Farries, Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ





REGISTERED NUMBER: SC282327 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Chris Jones (Building Contractors)
Limited (Registered number: SC282327)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 3,000
Tangible assets 5 31,595 53,825
Investments 6 - 30,000
31,595 86,825

CURRENT ASSETS
Debtors 7 692 8,898
Cash at bank 145,878 160,177
146,570 169,075
CREDITORS
Amounts falling due within one year 8 (165,243 ) (173,652 )
NET CURRENT LIABILITIES (18,673 ) (4,577 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,922

82,248

PROVISIONS FOR LIABILITIES - (10,227 )
NET ASSETS 12,922 72,021

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 11,922 71,021
SHAREHOLDERS' FUNDS 12,922 72,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 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 4th April 2024 and were signed on its behalf by:





C Jones - Director


Chris Jones (Building Contractors)
Limited (Registered number: SC282327)

Notes to the Financial Statements
for the Year Ended 31st March 2024

1. STATUTORY INFORMATION

Chris Jones (Building Contractors) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents the supply of building services net of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The assets are reviewed for impairment if there are any factors that indicate the carrying amount may be impaired.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Chris Jones (Building Contractors)
Limited (Registered number: SC282327)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
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.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2023
and 31st March 2024 30,000
AMORTISATION
At 1st April 2023 27,000
Charge for year 3,000
At 31st March 2024 30,000
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 3,000

Chris Jones (Building Contractors)
Limited (Registered number: SC282327)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1st April 2023 56,101 87,207 143,308
Disposals - (26,962 ) (26,962 )
At 31st March 2024 56,101 60,245 116,346
DEPRECIATION
At 1st April 2023 30,096 59,387 89,483
Charge for year 3,905 3,160 7,065
Eliminated on disposal - (11,797 ) (11,797 )
At 31st March 2024 34,001 50,750 84,751
NET BOOK VALUE
At 31st March 2024 22,100 9,495 31,595
At 31st March 2023 26,005 27,820 53,825

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2023 30,000
Disposals (30,000 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 30,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 8,898
Other debtors 692 -
692 8,898

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts - 229
Trade creditors 6,989 11,923
Taxation and social security 19,947 24,688
Other creditors 138,307 136,812
165,243 173,652

Chris Jones (Building Contractors)
Limited (Registered number: SC282327)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts - 229

Hire purchase creditors are secured on the assets on which the finance is outstanding.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £67,600 were paid to the directors .

The company operates a directors' current account. As at 31st March 2024, the company owed the sum of £133,557 (2023 - £97,022). This sum is interest free and repayable on demand.