Registered number
07789077
J.R.R. Contracts Limited
Filleted Accounts
31 March 2024
J.R.R. Contracts Limited
Registered number: 07789077
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 100,727 118,339
Current assets
Stocks 95,644 104,664
Debtors 4 41,750 17,117
Cash at bank and in hand - 26,889
137,394 148,670
Creditors: amounts falling due within one year 5 (163,092) (233,203)
Net current liabilities (25,698) (84,533)
Total assets less current liabilities 75,029 33,806
Creditors: amounts falling due after more than one year 6 (26,384) (33,306)
Net assets 48,645 500
Capital and reserves
Called up share capital 100 100
Profit and loss account 48,545 400
Shareholders' funds 48,645 500
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Carol Hampton
Director
Approved by the board on 4 September 2024
J.R.R. Contracts Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Government grants
Grants received during the year from the government are recognised as other income. This income is recognised when the application is made to the local authority after receiving confirmation of entitlement from them. There would either be a debtor, a deferred income or no balance due recognised depending upon when the cash was received from the local authority. The grants received in the year include Coronavirus Job Retention Scheme (CJRS). CJRS is recognised on a straight line basis, accrued over the furlough period for each relevant employee on the PAYE payroll scheme. Cash payments are received from HMRC.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 15% reducing balance
Motor vehicles 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Functional and presentation currency
The financial statements of the company are measured and presented in the currency of the primary economic environment in which the company operates, the functional currency. The financial statements are presented in Pound sterling (£), which is the company’s functional currency.
Employee benefits
Short-term employee benefits
Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Post-employment defined contribution plans
Amounts in respect of defined contributions plans are recognised as an expense as they are incurred.

Termination benefits
Provisions for termination benefits are recognised only when the company is demonstrably committed to terminate the employment of an employee or of a group of employees before their normal retirement date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Going concern
The financial statements have been prepared on the basis that the company will receive continued financial support from bank and directors and has adequate resources to continue in operational existence for the foreseeable future.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Fixtures, fittings, tools and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2023 118,591 130,501 249,092
Additions 4,650 - 4,650
At 31 March 2024 123,241 130,501 253,742
Depreciation
At 1 April 2023 82,118 48,635 130,753
Charge for the year 6,168 16,094 22,262
At 31 March 2024 88,286 64,729 153,015
Net book value
At 31 March 2024 34,955 65,772 100,727
At 31 March 2023 36,473 81,866 118,339
4 Debtors 2024 2023
£ £
Trade debtors 40,412 11,312
Other debtors 1,338 5,805
41,750 17,117
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,876 -
Trade creditors 7,678 28,876
Taxation and social security costs 45,942 16,314
Other creditors 103,596 188,013
163,092 233,203
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,384 33,306
7 Related party transactions
Included within other creditors is a directors' loan of £Nil (2023 - £79,329).
8 Controlling party
The directors do not consider there to be an ultimate controlling party. Directors have taken salary that has been disclosed in the accounts.
9 Other information
J.R.R. Contracts Limited is a private company limited by shares and incorporated in England. Its registered office is:
471 Hornsey Road
London
N19 3QL
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