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Registration number: 11959717

JDS Developments (Contractors) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

JDS Developments (Contractors) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

JDS Developments (Contractors) Ltd

Company Information

Director

Mr Daniel Robert Shenton

Registered office

256 Hollinsend Road
Gleadless
Sheffield
South Yorkshire
S12 2NP

Accountants

Thorntons Accounting Limited
Chartered Certified Accountants
176-178 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

JDS Developments (Contractors) Ltd

(Registration number: 11959717)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,553

12,881

Current assets

 

Debtors

5

256,569

114,042

Cash at bank and in hand

 

656,562

417,009

 

913,131

531,051

Creditors: Amounts falling due within one year

6

(417,643)

(190,345)

Net current assets

 

495,488

340,706

Total assets less current liabilities

 

504,041

353,587

Creditors: Amounts falling due after more than one year

6

(9,556)

(19,556)

Net assets

 

494,485

334,031

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

494,385

333,931

Shareholders' funds

 

494,485

334,031

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 August 2024
 

 

JDS Developments (Contractors) Ltd

(Registration number: 11959717)
Balance Sheet as at 31 March 2024

.........................................
Mr Daniel Robert Shenton
Director

 

JDS Developments (Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
256 Hollinsend Road
Gleadless
Sheffield
South Yorkshire
S12 2NP

These financial statements were authorised for issue by the director on 20 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

JDS Developments (Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% straight line

Fixtures and fittings

15% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

JDS Developments (Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

JDS Developments (Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

3,486

11,726

17,308

32,520

Additions

1,153

-

-

1,153

At 31 March 2024

4,639

11,726

17,308

33,673

Depreciation

At 1 April 2023

792

4,678

14,169

19,639

Charge for the year

582

1,760

3,139

5,481

At 31 March 2024

1,374

6,438

17,308

25,120

Carrying amount

At 31 March 2024

3,265

5,288

-

8,553

At 31 March 2023

2,694

7,048

3,139

12,881

5

Debtors

2024
£

2023
£

Trade debtors

216,402

77,875

Other debtors

40,000

35,000

Prepayments

167

1,167

256,569

114,042

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

5,000

-

Trade creditors

 

129,744

14,284

Taxation and social security

 

280,494

161,196

Accruals and deferred income

 

1,729

1,000

Other creditors

 

676

13,865

 

417,643

190,345

 

JDS Developments (Contractors) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

9,556

19,556

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

9,556

19,556

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,000

-