Registered number
08647463
G Jones Plastering Limited
Filleted Accounts
31 August 2024
G Jones Plastering Limited
Registered number: 08647463
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 14,877 22,528
Current assets
Debtors 5 951 1,711
Cash at bank and in hand 12,078 4,683
13,029 6,394
Creditors: amounts falling due within one year 6 (3,870) (2,849)
Net current assets 9,159 3,545
Total assets less current liabilities 24,036 26,073
Creditors: amounts falling due after more than one year 7 (9,472) (14,023)
Provisions for liabilities (3,719) (4,240)
Net assets 10,845 7,810
Capital and reserves
Called up share capital 100 100
Profit and loss account 10,745 7,710
Shareholders' funds 10,845 7,810
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.
G Jones
Director
Approved by the board on 15 September 2024
G Jones Plastering Limited
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
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:
Goodwill
Motor Vehicle 20% straight line
FF and equipment 33 % straight line
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.
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 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 28,000
At 31 August 2024 28,000
Amortisation
At 1 September 2023 28,000
At 31 August 2024 28,000
Net book value
At 31 August 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 September 2023 4,158 57,740 61,898
Disposals - (20,546) (20,546)
At 31 August 2024 4,158 37,194 41,352
Depreciation
At 1 September 2023 3,946 35,424 39,370
Charge for the year 212 7,439 7,651
On disposals - (20,546) (20,546)
At 31 August 2024 4,158 22,317 26,475
Net book value
At 31 August 2024 - 14,877 14,877
At 31 August 2023 212 22,316 22,528
5 Debtors 2024 2023
£ £
Other debtors 951 1,711
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 4,637 1,396
Accruals 1,475 1,440
Other creditors (2,242) 13
3,870 2,849
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 9,472 14,023
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors Loan
[Loan 1] 2,242 - - 2,242
2,242 - - 2,242
9 Other information
G Jones Plastering Limited is a private company limited by shares and incorporated in England. Its registered office is:
5 Mill Mead, Ashington,
Pulborough,
England,
RH20 3BE
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