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Company registration number: 05801916
JBC COMMERCIAL ROOFING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
JBC COMMERCIAL ROOFING LIMITED
Contents
Directors report
Accountants report
Statement of financial position
Notes to the financial statements
JBC COMMERCIAL ROOFING LIMITED
Directors report
Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024.
Directors
The directors who served the company during the year were as follows:
Mr L. J. Burton
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 04 July 2024 and signed on behalf of the board by:
Mr L. J. Burton
Director
JBC COMMERCIAL ROOFING LIMITED
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of JBC Commercial Roofing Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JBC Commercial Roofing Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of JBC Commercial Roofing Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of JBC Commercial Roofing Limited and state those matters that we have agreed to state to the board of directors of JBC Commercial Roofing Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JBC Commercial Roofing Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that JBC Commercial Roofing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JBC Commercial Roofing Limited. You consider that JBC Commercial Roofing Limited 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 financial statements of JBC Commercial Roofing Limited. 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 financial statements.
Robert Pola
Chartered Accountant
2 Low Road
Congham
Kings Lynn
Norfolk
PE32 1AE
4 July 2024
JBC COMMERCIAL ROOFING LIMITED
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 130,015 119,726
_______ _______
130,015 119,726
Current assets
Debtors 7 599,071 251,840
Cash at bank and in hand 815,976 467,520
_______ _______
1,415,047 719,360
Creditors: amounts falling due
within one year 8 ( 933,408) ( 253,923)
_______ _______
Net current assets 481,639 465,437
_______ _______
Total assets less current liabilities 611,654 585,163
Creditors: amounts falling due
after more than one year 9 ( 15,977) ( 28,506)
_______ _______
Net assets 595,677 556,657
_______ _______
Capital and reserves
Called up share capital 10 1,000 1,000
Profit and loss account 594,677 555,657
_______ _______
Shareholders funds 595,677 556,657
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 July 2024 , and are signed on behalf of the board by:
Mr L. J. Burton
Director
Company registration number: 05801916
JBC COMMERCIAL ROOFING LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
2. Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
3. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
4. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible assets 29,184 25,164
_______ _______
5. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 172,987 131,178
_______ _______
Tax on profit 172,987 131,178
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 28,838 57,245 138,932 225,015
Additions 849 4,205 36,051 41,105
Disposals - ( 1,866) - ( 1,866)
_______ _______ _______ _______
At 31 March 2024 29,687 59,584 174,983 264,254
_______ _______ _______ _______
Depreciation
At 1 April 2023 12,396 26,858 66,035 105,289
Charge for the year 2,583 4,621 21,980 29,184
Disposals - ( 234) - ( 234)
_______ _______ _______ _______
At 31 March 2024 14,979 31,245 88,015 134,239
_______ _______ _______ _______
Carrying amount
At 31 March 2024 14,708 28,339 86,968 130,015
_______ _______ _______ _______
At 31 March 2023 16,442 30,387 72,897 119,726
_______ _______ _______ _______
Obligations under finance leases
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 31 March 2024 -
_______
At 31 March 2023 53,767
_______
7. Debtors
2024 2023
£ £
Trade debtors 583,357 213,676
Amounts owed by group undertakings 520 420
Other debtors 15,194 37,744
_______ _______
599,071 251,840
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 312,449 94,319
Amounts owed to group undertakings 250,000 -
Corporation tax 172,932 131,178
Social security and other taxes 177,148 10,064
Other creditors 20,879 18,362
_______ _______
933,408 253,923
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 15,977 28,506
_______ _______
10. Called up share capital
Authorised share capital
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
_______ _______ _______ _______
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 1,000 1,000 1,000 1,000
_______ _______ _______ _______