Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-313General builders2023-01-01false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05646914 2023-01-01 2023-12-31 05646914 2022-01-01 2022-12-31 05646914 2023-12-31 05646914 2022-12-31 05646914 c:Director1 2023-01-01 2023-12-31 05646914 d:Buildings 2023-01-01 2023-12-31 05646914 d:Buildings 2023-12-31 05646914 d:Buildings 2022-12-31 05646914 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05646914 d:Buildings d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05646914 d:PlantMachinery 2023-01-01 2023-12-31 05646914 d:PlantMachinery 2023-12-31 05646914 d:PlantMachinery 2022-12-31 05646914 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05646914 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05646914 d:MotorVehicles 2023-01-01 2023-12-31 05646914 d:MotorVehicles 2023-12-31 05646914 d:MotorVehicles 2022-12-31 05646914 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05646914 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05646914 d:OfficeEquipment 2023-01-01 2023-12-31 05646914 d:OfficeEquipment 2023-12-31 05646914 d:OfficeEquipment 2022-12-31 05646914 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05646914 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05646914 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05646914 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 05646914 d:CurrentFinancialInstruments 2023-12-31 05646914 d:CurrentFinancialInstruments 2022-12-31 05646914 d:Non-currentFinancialInstruments 2023-12-31 05646914 d:Non-currentFinancialInstruments 2022-12-31 05646914 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05646914 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 05646914 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 05646914 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 05646914 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 05646914 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 05646914 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 05646914 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 05646914 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 05646914 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 05646914 d:ShareCapital 2023-12-31 05646914 d:ShareCapital 2022-12-31 05646914 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 05646914 d:RetainedEarningsAccumulatedLosses 2023-12-31 05646914 d:RetainedEarningsAccumulatedLosses 2022-12-31 05646914 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 05646914 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 05646914 c:OrdinaryShareClass1 2023-01-01 2023-12-31 05646914 c:OrdinaryShareClass1 2023-12-31 05646914 c:OrdinaryShareClass1 2022-12-31 05646914 c:OrdinaryShareClass2 2023-01-01 2023-12-31 05646914 c:OrdinaryShareClass2 2023-12-31 05646914 c:OrdinaryShareClass2 2022-12-31 05646914 c:FRS102 2023-01-01 2023-12-31 05646914 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05646914 c:FullAccounts 2023-01-01 2023-12-31 05646914 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05646914 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 05646914 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 05646914 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 05646914 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 05646914 2 2023-01-01 2023-12-31 05646914 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 05646914 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 05646914 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 05646914 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 05646914 d:LeasedAssetsHeldAsLessee 2023-12-31 05646914 d:LeasedAssetsHeldAsLessee 2022-12-31 05646914 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 05646914










GRIFFITHS & JONES BUILDING CONTRACTORS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
REGISTERED NUMBER: 05646914

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
233,537
177,720

  
233,537
177,720

Current assets
  

Stocks
  
875
500

Debtors: amounts falling due within one year
 6 
185,346
158,001

Cash at bank and in hand
 7 
3,866
19,907

  
190,087
178,408

Creditors: amounts falling due within one year
 8 
(128,427)
(135,366)

Net current assets
  
 
 
61,660
 
 
43,042

Total assets less current liabilities
  
295,197
220,762

Creditors: amounts falling due after more than one year
 9 
(130,527)
(108,854)

Provisions for liabilities
  

Deferred tax
 12 
(22,473)
(8,518)

  
 
 
(22,473)
 
 
(8,518)

Net assets
  
142,197
103,390


Capital and reserves
  

Called up share capital 
 13 
100
100

Profit and loss account
 14 
142,097
103,290

  
142,197
103,390


Page 1

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
REGISTERED NUMBER: 05646914
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 July 2024.




Mr N Jones
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Griffiths and Jones Limited, 05646914, is a private company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Holly Oaks, Rhos-Y-Maen Isaf, Gorn Road, Llanidloes, SY18 6LB.
The principal activity of the Company is that of general builders.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 4

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
No depreciation
Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. In the opinion of the directors there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 6

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
143,645
51,505
46,245
3,222
244,617


Additions
-
31,450
46,990
1,208
79,648


Disposals
-
(15,000)
-
-
(15,000)



At 31 December 2023

143,645
67,955
93,235
4,430
309,265



Depreciation


At 1 January 2023
-
29,804
34,664
2,429
66,897


Charge for the year on owned assets
-
11,221
2,895
450
14,566


Charge for the year on financed assets
-
-
2,937
-
2,937


Disposals
-
(8,672)
-
-
(8,672)



At 31 December 2023

-
32,353
40,496
2,879
75,728



Net book value



At 31 December 2023
143,645
35,602
52,739
1,551
233,537



At 31 December 2022
143,645
21,700
11,581
794
177,720

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
-
6,328

Motor vehicles
44,053
7,310

44,053
13,638

Page 7

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
181,128
150,533

Other debtors
1,606
4,495

Prepayments and accrued income
2,612
2,973

185,346
158,001



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,866
19,907

Less: bank overdrafts
(10,361)
-

(6,495)
19,907


Page 8

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
10,361
-

Bank loans
10,160
10,047

Trade creditors
24,850
43,931

Corporation tax
19,086
21,809

Other taxation and social security
9,015
17,315

Obligations under finance lease and hire purchase contracts
8,000
4,788

Other creditors
44,675
35,761

Accruals and deferred income
2,280
1,715

128,427
135,366


The following liabilities were secured:

2023
2022
£
£



Bank loan
10,160
10,047

10,160
10,047

Details of security provided:

The amount of £5,330 (2022: £5,139) included in creditors due within one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender.
The other bank loan is secured over the assets to which it relates.

Page 9

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
98,527
108,019

Net obligations under finance leases and hire purchase contracts
32,000
835

130,527
108,854


The following liabilities were secured:

2023
2022
£
£



Bank loan
98,527
108,019

98,527
108,019

Details of security provided:

The amount of £32,289 (2022: £37,679) included in creditors due after one year is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy. The BBLS guarantee is provided to the lender. 
The other bank loan is secured over the assets to which it relates.

Page 10

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,160
10,047


10,160
10,047

Amounts falling due 1-2 years

Bank loans
10,295
10,220


10,295
10,220

Amounts falling due 2-5 years

Bank loans
31,729
31,961


31,729
31,961

Amounts falling due after more than 5 years

Bank loans
56,504
65,837

56,504
65,837

108,688
118,065



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,000
4,788

Between 1-5 years
32,000
835

40,000
5,623

Page 11

 
GRIFFITHS & JONES BUILDING CONTRACTORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Deferred taxation




2023


£






At beginning of year
8,518


Charged to profit or loss
13,955



At end of year
22,473

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
22,473
8,518

22,473
8,518


13.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary A shares of £1.00 each
50
50
50 (2022 - 50) Ordinary B shares of £1.00 each
50
50

100

100



14.


Reserves

Profit and loss account

The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.

 
Page 12