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Registered number: 08319162
CJWDEV Limited
Financial Statements
For The Year Ended 31 December 2023
Appleleaf Chartered Certified Accountants
ACCA
5 Town Hall Street
Grimsby
Lincolnshire
DN31 1HN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08319162
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 6,690 8,471
Investment Properties 6 276,000 125,000
282,690 133,471
CURRENT ASSETS
Stocks 7 1,875 1,875
Debtors 8 1,032 2,428
Cash at bank and in hand 104,370 258,324
107,277 262,627
Creditors: Amounts Falling Due Within One Year 9 (23,685 ) (21,782 )
NET CURRENT ASSETS (LIABILITIES) 83,592 240,845
TOTAL ASSETS LESS CURRENT LIABILITIES 366,282 374,316
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,433 ) (3,597 )
NET ASSETS 359,849 370,719
CAPITAL AND RESERVES
Called up share capital 10 1 1
Revaluation reserve 11 25,731 18,931
Profit and Loss Account 334,117 351,787
SHAREHOLDERS' FUNDS 359,849 370,719
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Christopher Wright
Director
29 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
CJWDEV Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08319162 . The registered office is 5 Town Hall Street, Grimsby, N E Lincolnshire, DN31 1HN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation policy as revalued each year
Plant & Machinery 25% straight line on cost
Fixtures & Fittings 25% straight line on cost
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
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4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 10,000
As at 31 December 2023 10,000
Amortisation
As at 1 January 2023 10,000
As at 31 December 2023 10,000
Net Book Value
As at 31 December 2023 -
As at 1 January 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 January 2023 11,469 - 11,469
Additions 209 740 949
As at 31 December 2023 11,678 740 12,418
Depreciation
As at 1 January 2023 2,998 - 2,998
Provided during the period 2,557 173 2,730
As at 31 December 2023 5,555 173 5,728
Net Book Value
As at 31 December 2023 6,123 567 6,690
As at 1 January 2023 8,471 - 8,471
6. Investment Property
2023
£
Fair Value
As at 1 January 2023 125,000
Additions 144,200
Revaluations 6,800
As at 31 December 2023 276,000
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7. Stocks
2023 2022
£ £
Stock 1,875 1,875
8. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 62 70
Other debtors - 1,095
VAT 935 1,263
Other taxes and social security 35 -
1,032 2,428
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 30
Corporation tax 19,409 20,250
Other taxes and social security - 123
Accruals and deferred income 4,270 1,245
Director's loan account 6 134
23,685 21,782
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
11. Reserves
Revaluation Reserve
£
As at 1 January 2023 18,931
Surplus on revaluation 6,800
As at 31 December 2023 25,731
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