Justice Construction Limited
Registered number: 06609180
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 108,454 108,672
Current assets
Stocks and work in progress 850 900
Debtors 4 35,100 22,698
Cash at bank and in hand 38,996 53,105
74,946 76,703
Creditors: amounts falling due within one year 5 (85,465) (90,103)
Net current liabilities (10,519) (13,400)
Total assets less current liabilities 97,935 95,272
Creditors: amounts falling due after more than one year 6 (37,401) (29,167)
Provisions for liabilities (22,292) (20,648)
Net assets 38,242 45,457
Capital and reserves
Called up share capital 100 100
Profit and loss account 38,142 45,357
Shareholders' funds 38,242 45,457
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.
Mr P Justice
Director
Approved by the board on 20 March 2024
Justice Construction Limited
Notes to the Accounts
for the year ended 30 June 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.
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:
Plant and machinery 20% reducing balance
Computer equipment 20% reducing balance
Motor vehicles 20% reducing balance
Stocks and work in progress
Stocks and work in progressare 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 2 2
3 Tangible fixed assets
Computer equipment Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 2,216 99,688 109,842 211,746
Additions - 14,500 23,495 37,995
Disposals - - (34,850) (34,850)
At 30 June 2023 2,216 114,188 98,487 214,891
Depreciation
At 1 July 2022 1,662 62,663 38,749 103,074
Charge for the year 111 10,305 16,698 27,114
On disposals - - (23,751) (23,751)
At 30 June 2023 1,773 72,968 31,696 106,437
Net book value
At 30 June 2023 443 41,220 66,791 108,454
At 30 June 2022 554 37,025 71,093 108,672
4 Debtors 2023 2022
£ £
Trade debtors 35,100 22,698
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 13,019 40,042
Trade creditors 21,101 18,921
Accruals 1,950 1,900
Corporation tax 29,169 16,335
Other taxes and social security costs 9,730 2,756
Other creditors 496 149
85,465 90,103
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,167 29,167
Obligations under finance lease and hire purchase contracts 18,234 -
37,401 29,167
7 Events after the reporting date
There have been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
8 Pension commitments
There are no pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Contingent liabilities
There are no contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
10 Related party transactions
Total dividends of £118000 were paid during the year to Mr P Justice and Mrs J Justice, joint shareholders of the company. As at the year end the company owed £496 to Mr and Mrs Justice. The loan is interest free with no fixed date for repayment.
11 Controlling party
The company is under the common control of Mr and Mrs Justice being directors and shareholders of the company.
12 Other information
Justice Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Dairy Farm
Upper Stowe
Weedon
Northants
NN7 4SH
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