2022-07-012023-06-302023-06-30false09595570J.O GROUNDWORKS 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J.O GROUNDWORKS LIMITED

Registered Number
09595570
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

J.O GROUNDWORKS LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

ORTON, James

Registered Address

Unit 11 Wilson Road
Wigston
Leicestershire
LE18 4TP

Place of Business

Ashlands Farm

Copt Oak Road

Narborough

Leicester

LE19 3EF


Registered Number

09595570 (England and Wales)
J.O GROUNDWORKS LIMITED
Statement of Financial Position
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5228,222799,667
228,222799,667
Current assets
Stocks6278,394372,383
Debtors7647,0822,453,326
Cash at bank and on hand1858,999
925,4942,884,708
Creditors amounts falling due within one year8(488,286)(3,304,871)
Net current assets (liabilities)437,208(420,163)
Total assets less current liabilities665,430379,504
Creditors amounts falling due after one year9(1,613,224)(211,833)
Provisions for liabilities10-(37,063)
Net assets(947,794)130,608
Capital and reserves
Called up share capital100100
Profit and loss account(947,894)130,508
Shareholders' funds(947,794)130,608
The financial statements were approved and authorised for issue by the Director on 30 January 2024, and are signed on its behalf by:
ORTON, James
Director
Registered Company No. 09595570
J.O GROUNDWORKS LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery15-
Vehicles15-
Office Equipment-3
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year49
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 July 22807,999348,8595,3771,162,235
Additions1,098-2651,363
Disposals(611,792)(165,999)-(777,791)
At 30 June 23197,305182,8605,642385,807
Depreciation and impairment
At 01 July 22245,636113,9802,952362,568
Charge for year21,06418,9441,18141,189
On disposals(188,758)(57,414)-(246,172)
At 30 June 2377,94275,5104,133157,585
Net book value
At 30 June 23119,363107,3501,509228,222
At 30 June 22562,363234,8792,425799,667
6.Stocks

2023

2022

££
Work in progress278,394372,383
Total278,394372,383
7.Debtors

2023

2022

££
Trade debtors / trade receivables591,8371,403,160
Other debtors32,0881,027,009
Prepayments and accrued income23,15723,157
Total647,0822,453,326
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables431,6693,257,002
Bank borrowings and overdrafts31,962-
Taxation and social security-58
Finance lease and HP contracts7,99615,260
Other creditors16,65911,749
Accrued liabilities and deferred income-20,802
Total488,2863,304,871
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.
9.Creditors after one year

2023

2022

££
Trade creditors / trade payables1,473,668-
Bank borrowings and overdrafts139,556211,833
Total1,613,224211,833
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-37,063
Total-37,063