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COMPANY REGISTRATION NUMBER: 12100965
B & JJ CONSTRUCTION (UK) LTD
Unaudited Abridged Financial Statements
For the year ended
31 July 2023
B & JJ CONSTRUCTION (UK) LTD
Abridged Financial Statements
Year ended 31 July 2023
Contents
Page
Officers and professional advisers
1
Director's report
2
Chartered certified accountants report to the director on the preparation of the unaudited statutory abridged financial statements
3
Abridged statement of income and retained earnings
4
Abridged statement of financial position
5
Notes to the abridged financial statements
7
B & JJ CONSTRUCTION (UK) LTD
Officers and Professional Advisers
Director
Mr. B. Brazhda
Registered office
111A George Lane
London
E18 1AN
Accountants
OMG
Chartered Certified Accountants
111a, George Lane
London
E18 1AN
B & JJ CONSTRUCTION (UK) LTD
Director's Report
Year ended 31 July 2023
The director presents his report and the unaudited abridged financial statements of the company for the year ended 31 July 2023 .
Principal activities
The principal activity of the company during the year was that of providing building construction services.
Director
The director who served the company during the year was as follows:
Mr. B. Brazhda
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 31 March 2024 and signed on behalf of the board by:
Mr. B. Brazhda
Director
Registered office:
111A George Lane
London
E18 1AN
B & JJ CONSTRUCTION (UK) LTD
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of B & JJ CONSTRUCTION (UK) LTD
Year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of B & JJ CONSTRUCTION (UK) LTD for the year ended 31 July 2023, which comprise the abridged statement of income and retained earnings, abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of B & JJ CONSTRUCTION (UK) LTD in accordance with the terms of our engagement letter dated 17 July 2019. Our work has been undertaken solely to prepare for your approval the abridged financial statements of B & JJ CONSTRUCTION (UK) LTD and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than B & JJ CONSTRUCTION (UK) LTD and its director for our work or for this report.
It is your duty to ensure that B & JJ CONSTRUCTION (UK) LTD has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of B & JJ CONSTRUCTION (UK) LTD. You consider that B & JJ CONSTRUCTION (UK) LTD is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of B & JJ CONSTRUCTION (UK) LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.
OMG Chartered Certified Accountants
111a, George Lane London E18 1AN
31 March 2024
B & JJ CONSTRUCTION (UK) LTD
Abridged Statement of Income and Retained Earnings
Year ended 31 July 2023
2023
2022
Note
£
£
Gross profit
88,311
85,324
Administrative expenses
69,648
63,819
--------
--------
Operating profit
18,663
21,505
--------
--------
Profit before taxation
5
18,663
21,505
Tax on profit
3,681
3,592
--------
--------
Profit for the financial year and total comprehensive income
14,982
17,913
--------
--------
Dividends paid and payable
6
( 2,000)
( 4,000)
Retained earnings at the start of the year
14,445
532
--------
--------
Retained earnings at the end of the year
27,427
14,445
--------
--------
All the activities of the company are from continuing operations.
B & JJ CONSTRUCTION (UK) LTD
Abridged Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
7
2,846
3,558
Current assets
Debtors
344
8,265
Cash at bank and in hand
51,135
41,842
--------
--------
51,479
50,107
Creditors: amounts falling due within one year
8
25,898
38,220
--------
--------
Net current assets
25,581
11,887
--------
--------
Total assets less current liabilities
28,427
15,445
--------
--------
Net assets
28,427
15,445
--------
--------
Capital and reserves
Called up share capital
9
1,000
1,000
Profit and loss account
27,427
14,445
--------
--------
Shareholders funds
28,427
15,445
--------
--------
These abridged financial statements have been prepared 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'.
For the year ending 31 July 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 abridged 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
B & JJ CONSTRUCTION (UK) LTD
Abridged Statement of Financial Position (continued)
31 July 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 31 March 2024 , and are signed on behalf of the board by:
Mr. B. Brazhda
Director
Company registration number: 12100965
B & JJ CONSTRUCTION (UK) LTD
Notes to the Abridged Financial Statements
Year ended 31 July 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 111A George Lane, London, E18 1AN.
2. Statement of compliance
These abridged 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 abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
20% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
712
890
----
----
6. Dividends
2023
2022
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
2,000
4,000
-------
-------
7. Tangible assets
£
Cost
At 1 August 2022 and 31 July 2023
6,893
-------
Depreciation
At 1 August 2022
3,335
Charge for the year
712
-------
At 31 July 2023
4,047
-------
Carrying amount
At 31 July 2023
2,846
-------
At 31 July 2022
3,558
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
1,831
1,613
Corporation tax
3,681
3,592
Director loan accounts
17,241
27,806
Other creditors
3,145
5,209
--------
--------
25,898
38,220
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
-------
-------
-------
-------
10. Related party transactions
As at the year-end the director was owed £17,241 (2022 £27,806). These amounts were interest free, unsecured and repayable on demand.
11. Controlling party
The Company was under the control of its director throughout the current period.