REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
JAMES TURNER (BUILDERS) LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
JAMES TURNER (BUILDERS) LIMITED |
JAMES TURNER (BUILDERS) LIMITED (REGISTERED NUMBER: 00482697) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
JAMES TURNER (BUILDERS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
34 Waterloo Road |
Wolverhampton |
West Midlands |
WV1 4DG |
JAMES TURNER (BUILDERS) LIMITED (REGISTERED NUMBER: 00482697) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
JAMES TURNER (BUILDERS) LIMITED (REGISTERED NUMBER: 00482697) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
JAMES TURNER (BUILDERS) LIMITED (REGISTERED NUMBER: 00482697) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
James Turner (Builders) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
No depreciation has been provided on freehold buildings. The company follows a programme of regular maintenance of its properties to maintain them to a high standard. Such expenditure is charged against profits in the year in which it is incurred. The directors consider that the estimated residual value of the property as at 31 March 2024 is not materially different from its carrying value and that the estimated residual economic life of the property is long. Accordingly any element od depreciation would be immaterial and therefore no provision has been made. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
JAMES TURNER (BUILDERS) LIMITED (REGISTERED NUMBER: 00482697) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1 April 2023 |
Revaluations |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Land and |
buildings |
£ |
Valuation in 2017 | 846,922 |
Valuation in 2024 | 185,000 |
Cost | 18,078 |
1,050,000 |
The directors valued the freehold land and buildings as at 31 March 2024 to reasonably reflect the current market value of the property. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 April 2023 |
Freehold property revaluation | 109,116 |
At 31 March 2024 |