Registered number
06810614
J D Civil Engineering Ltd
Filleted Accounts
31 March 2024
J D Civil Engineering Ltd
Registered number: 06810614
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 20,000 22,000
Tangible assets 4 110,013 131,278
130,013 153,278
Current assets
Stocks 50,157 -
Debtors 5 727,291 539,802
Cash at bank and in hand 13,219 49,526
790,667 589,328
Creditors: amounts falling due within one year 6 (343,347) (227,082)
Net current assets 447,320 362,246
Total assets less current liabilities 577,333 515,524
Creditors: amounts falling due after more than one year 7 (204,010) (123,125)
Provisions for liabilities (24,942) (24,942)
Net assets 348,381 367,457
Capital and reserves
Called up share capital 2 2
Profit and loss account 348,379 367,455
Shareholders' funds 348,381 367,457
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.
John Dayment Andy Sutton
Director Director
Approved by the board on 13 September 2024
J D Civil Engineering Ltd
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Office equipment 15% reducing balance
Plant and machinery 15% reducing balance
Motor vehicles 25% 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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 11
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 50,000
At 31 March 2024 50,000
Amortisation
At 1 April 2023 28,000
Provided during the year 2,000
At 31 March 2024 30,000
Net book value
At 31 March 2024 20,000
At 31 March 2023 22,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 25 years.
4 Tangible fixed assets
Plant and machinery Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 130,422 12,235 93,965 236,622
Additions 3,586 1,106 - 4,692
At 31 March 2024 134,008 13,341 93,965 241,314
Depreciation
At 1 April 2023 56,436 6,183 42,725 105,344
Charge for the year 11,636 1,510 12,811 25,957
At 31 March 2024 68,072 7,693 55,536 131,301
Net book value
At 31 March 2024 65,936 5,648 38,429 110,013
At 31 March 2023 73,986 6,052 51,240 131,278
5 Debtors 2024 2023
£ £
Trade debtors 408,326 535,686
Prepayment 1,575 -
Other debtors 317,390 4,116
727,291 539,802
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 95,904 34,248
Obligations under finance lease and hire purchase contracts 8,076 14,846
Trade creditors 114,278 127,136
Directors loan account 1,420 629
Taxation and social security costs 101,663 43,275
Other creditors 22,006 6,948
343,347 227,082
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 184,496 95,535
Obligations under finance lease and hire purchase contracts 19,514 27,590
204,010 123,125
8 Other information
J D Civil Engineering Ltd is a private company limited by shares and incorporated in England. Its registered office is:
276 Union Street
Torquay
England
TQ2 5QY
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