JPL Groundwork and Civil Engineering Limited 10308022 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is Groundworks and Civil Engineering Contractor Digita Accounts Production Advanced 6.30.9574.0 true true 10308022 2022-09-01 2023-08-31 10308022 2023-08-31 10308022 bus:OrdinaryShareClass1 2023-08-31 10308022 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 10308022 core:CurrentFinancialInstruments 2023-08-31 10308022 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10308022 core:Non-currentFinancialInstruments 2023-08-31 10308022 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 10308022 core:FurnitureFittingsToolsEquipment 2023-08-31 10308022 core:LandBuildings 2023-08-31 10308022 core:MotorVehicles 2023-08-31 10308022 core:OtherPropertyPlantEquipment 2023-08-31 10308022 bus:SmallEntities 2022-09-01 2023-08-31 10308022 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 10308022 bus:FullAccounts 2022-09-01 2023-08-31 10308022 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 10308022 bus:RegisteredOffice 2022-09-01 2023-08-31 10308022 bus:Director1 2022-09-01 2023-08-31 10308022 bus:Director2 2022-09-01 2023-08-31 10308022 bus:Director3 2022-09-01 2023-08-31 10308022 bus:OrdinaryShareClass1 2022-09-01 2023-08-31 10308022 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 10308022 bus:Agent1 2022-09-01 2023-08-31 10308022 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 10308022 core:LandBuildings 2022-09-01 2023-08-31 10308022 core:MotorVehicles 2022-09-01 2023-08-31 10308022 core:OfficeEquipment 2022-09-01 2023-08-31 10308022 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 10308022 core:PlantMachinery 2022-09-01 2023-08-31 10308022 countries:AllCountries 2022-09-01 2023-08-31 10308022 2022-08-31 10308022 core:FurnitureFittingsToolsEquipment 2022-08-31 10308022 core:LandBuildings 2022-08-31 10308022 core:MotorVehicles 2022-08-31 10308022 core:OtherPropertyPlantEquipment 2022-08-31 10308022 2021-09-01 2022-08-31 10308022 2022-08-31 10308022 bus:OrdinaryShareClass1 2022-08-31 10308022 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-08-31 10308022 core:CurrentFinancialInstruments 2022-08-31 10308022 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 10308022 core:Non-currentFinancialInstruments 2022-08-31 10308022 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 10308022 core:FurnitureFittingsToolsEquipment 2022-08-31 10308022 core:LandBuildings 2022-08-31 10308022 core:MotorVehicles 2022-08-31 10308022 core:OtherPropertyPlantEquipment 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10308022

JPL Groundwork and Civil Engineering Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

JPL Groundwork and Civil Engineering Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 11

Detailed Profit and Loss Account

12 to 14

 

JPL Groundwork and Civil Engineering Limited

Company Information

Directors

Mr J Poulton

Mr J A Poulton

Ms L E Poulton

Registered office

Penllwyn
Llandewifach
Builth Wells
Powys
LD2 3UX

Accountants

David M Jones & Partners
Brooklands
Hay-on-Wye
Hereford
HR3 5AP

 

JPL Groundwork and Civil Engineering Limited

Directors' Report for the Year Ended 31 August 2023

The directors present their report and the financial statements for the year ended 31 August 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr J Poulton

Mr J A Poulton

Ms L E Poulton

Principal activity

The principal activity of the company is Groundworks and Civil Engineering Contractor

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................
Mr J Poulton
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
JPL Groundwork and Civil Engineering Limited
for the Year Ended 31 August 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JPL Groundwork and Civil Engineering Limited for the year ended 31 August 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of JPL Groundwork and Civil Engineering Limited , as a body. Our work has been undertaken solely to prepare for your approval the accounts of JPL Groundwork and Civil Engineering Limited and state those matters that we have agreed to state to the Board of Directors of JPL Groundwork and Civil Engineering Limited , as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JPL Groundwork and Civil Engineering Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JPL Groundwork and Civil Engineering Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of JPL Groundwork and Civil Engineering Limited . You consider that JPL Groundwork and Civil Engineering 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 accounts of JPL Groundwork and Civil Engineering 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 accounts.

......................................

David M Jones & Partners
Brooklands
Hay-on-Wye
Hereford
HR3 5AP

29 August 2024

 

JPL Groundwork and Civil Engineering Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 August 2023

Note

2023
£

2022
£

Turnover

 

759,786

552,563

Cost of sales

 

(613,033)

(420,813)

Gross profit

 

146,753

131,750

Distribution costs

 

(90)

-

Administrative expenses

 

(182,057)

(119,437)

Operating (loss)/profit

 

(35,394)

12,313

Interest payable and similar charges

 

(7,988)

(7,476)

 

(7,988)

(7,476)

(Loss)/profit before tax

4

(43,382)

4,837

(Loss)/profit for the financial year

 

(43,382)

4,837

Retained earnings brought forward

 

193,563

188,726

Retained earnings carried forward

 

150,181

193,563

 

JPL Groundwork and Civil Engineering Limited

(Registration number: 10308022)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

541,456

511,519

Current assets

 

Stocks

6

18,250

21,918

Debtors

7

66,626

80,851

 

84,876

102,769

Creditors: Amounts falling due within one year

8

(351,843)

(282,170)

Net current liabilities

 

(266,967)

(179,401)

Total assets less current liabilities

 

274,489

332,118

Creditors: Amounts falling due after more than one year

8

(124,307)

(138,554)

Net assets

 

150,182

193,564

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

150,181

193,563

Shareholders' funds

 

150,182

193,564

For the financial year ending 31 August 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

.........................................
Mr J Poulton
Director

 

JPL Groundwork and Civil Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

1

General information

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
Penllwyn
Llandewifach
Builth Wells
Powys
LD2 3UX

These financial statements were authorised for issue by the Board on 29 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.

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:

 

JPL Groundwork and Civil Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Asset class

Depreciation method and rate

Plant and equipment

20% Reducing balance basis

Motor vehicles

20% Reducing balance basis

Office equipment

25% Straight line basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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

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.

 

JPL Groundwork and Civil Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

74,753

57,641

 

JPL Groundwork and Civil Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

233,597

5,778

48,828

352,482

640,685

Additions

-

-

-

125,036

125,036

Disposals

-

-

-

(11,500)

(11,500)

At 31 August 2023

233,597

5,778

48,828

466,018

754,221

Depreciation

At 1 September 2022

-

3,007

16,446

120,859

140,312

Charge for the year

-

511

4,749

69,493

74,753

Eliminated on disposal

-

-

-

(2,300)

(2,300)

At 31 August 2023

-

3,518

21,195

188,052

212,765

Carrying amount

At 31 August 2023

233,597

2,260

27,633

277,966

541,456

At 31 August 2022

233,597

2,771

32,382

242,769

511,519

Included within the net book value of land and buildings above is £233,597 (2022 - £233,597) in respect of freehold land and buildings.
 

 

JPL Groundwork and Civil Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

Capitalised borrowing costs

6

Stocks

2023
£

2022
£

Work in progress

17,500

20,883

Other inventories

750

1,035

18,250

21,918

7

Debtors

Current

2023
£

2022
£

Trade debtors

14,110

59,154

Other debtors

52,516

21,697

 

66,626

80,851

 

JPL Groundwork and Civil Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

56,699

54,302

Trade creditors

 

67,273

51,337

Accruals and deferred income

 

2,413

4,610

Other creditors

 

225,458

171,921

 

351,843

282,170

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

124,307

138,554

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

124,307

138,554

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,164

10,165

Bank overdrafts

46,535

35,829

Hire purchase contracts

-

8,308

56,699

54,302

 

JPL Groundwork and Civil Engineering Limited

Detailed Profit and Loss Account for the Year Ended 31 August 2023

2023
 £

2022
 £

turnover (analysed below)

759,786

552,563

Cost of sales (analysed below)

(613,033)

(420,813)

Gross profit

146,753

131,750

Gross profit (%)

19.32%

23.84%

Distribution costs (analysed below)

(90)

-

Administrative expenses

Employment costs (analysed below)

(6,640)

-

Establishment costs (analysed below)

(17,675)

(15,953)

General administrative expenses (analysed below)

(86,566)

(44,928)

Finance charges (analysed below)

(1,223)

(915)

Depreciation costs (analysed below)

(74,753)

(57,641)

Other expenses (analysed below)

4,800

-

(182,057)

(119,437)

Operating (loss)/profit

(35,394)

12,313

Interest payable and similar charges (analysed below)

(7,988)

(7,476)

(Loss)/profit before tax

(43,382)

4,837

 

JPL Groundwork and Civil Engineering Limited

Detailed Profit and Loss Account for the Year Ended 31 August 2023

2023
£

2022
£

   

Turnover

Sale of goods, UK

759,786

552,563

   

Cost of sales

Opening raw materials

(1,035)

(1,035)

Opening work in progress

(20,883)

(29,800)

Materials

(323,771)

(242,707)

Planning and other fees

(250)

(2,348)

Closing raw materials

750

1,035

Closing work in progress

17,500

20,883

Subcontract cost

(213,471)

(125,097)

Hire of plant and machinery (Spot hire)

(43,206)

(25,932)

Lease of motor vehicles (Operating leases)

(14,244)

(7,046)

Plant repairs

(14,423)

(8,766)

(613,033)

(420,813)

   

Distribution costs

Freight and carriage

(90)

-

   

Employment costs

Casual wages

(6,640)

-

   

Establishment costs

Insurance

(15,819)

(12,945)

Repairs and maintenance

(792)

(1,387)

Repairs and renewals

(1,064)

(1,621)

(17,675)

(15,953)

   

General administrative expenses

Telephone and fax

(1,497)

(1,294)

Printing, postage and stationery

(295)

(168)

Trade subscriptions

(17)

(80)

Sundry expenses

(13)

(13)

Motor expenses

(65,098)

(38,993)

Travel and subsistence

(485)

(68)

Advertising

(10,650)

(20)

Accountancy fees

(2,036)

(2,424)

Legal and professional fees

(6,475)

(1,868)

(86,566)

(44,928)

   

Finance charges

Bank charges

(1,018)

(730)

Credit card charges

(205)

(185)

(1,223)

(915)

 

JPL Groundwork and Civil Engineering Limited

Detailed Profit and Loss Account for the Year Ended 31 August 2023

2023
£

2022
£

   

Depreciation costs

Depreciation of plant and machinery (owned)

(69,493)

(49,495)

Depreciation of fixtures and fittings (owned)

(381)

(595)

Depreciation of motor vehicles (owned)

(4,749)

(7,421)

Depreciation of office equipment (owned)

(130)

(130)

(74,753)

(57,641)

   

Other expenses

(Profit)/loss on disposal of tangible fixed assets

4,800

-

   

Interest payable and similar expenses

Bank interest payable

(1,249)

(447)

Bank loan interest payable

(6,566)

(6,129)

Hire purchase interest

(173)

(900)

(7,988)

(7,476)