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REGISTERED NUMBER: 08816050 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

BJP Construction Ltd

BJP Construction Ltd (Registered number: 08816050)

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

Chartered Certified Accountant's Report 10

BJP Construction Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: B J Pascoe
Mrs L K Pascoe





REGISTERED OFFICE: Flora Cottage
Trevena Lane
Higher Row
Ashton
Cornwall
TR13 9RY





REGISTERED NUMBER: 08816050 (England and Wales)





ACCOUNTANT: Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT

BJP Construction Ltd (Registered number: 08816050)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 109,899 95,721
Investments 6 7,737 1,001,257
117,636 1,096,978

CURRENT ASSETS
Stocks 70,316 83,424
Debtors 7 64,759 58,231
Cash at bank 310,713 645,540
445,788 787,195
CREDITORS
Amounts falling due within one year 8 279,740 563,395
NET CURRENT ASSETS 166,048 223,800
TOTAL ASSETS LESS CURRENT
LIABILITIES

283,684

1,320,778

CREDITORS
Amounts falling due after more than one
year

9

(28,489

)

(37,662

)

PROVISIONS FOR LIABILITIES (20,877 ) (18,181 )
NET ASSETS 234,318 1,264,935

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 234,218 1,264,835
SHAREHOLDERS' FUNDS 234,318 1,264,935

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

BJP Construction Ltd (Registered number: 08816050)

Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 23 September 2024 and were signed on its behalf by:





B J Pascoe - Director


BJP Construction Ltd (Registered number: 08816050)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

BJP Construction Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of invoiced services, net of VAT, except where there are instances of service contracts where the company has obtained a right to consideration.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


BJP Construction Ltd (Registered number: 08816050)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023
and 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

BJP Construction Ltd (Registered number: 08816050)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 152,956 77 59,593 1,998 214,624
Additions 15,872 - 34,988 - 50,860
At 31 March 2024 168,828 77 94,581 1,998 265,484
DEPRECIATION
At 1 April 2023 78,443 60 39,049 1,351 118,903
Charge for year 22,597 3 13,883 199 36,682
At 31 March 2024 101,040 63 52,932 1,550 155,585
NET BOOK VALUE
At 31 March 2024 67,788 14 41,649 448 109,899
At 31 March 2023 74,513 17 20,544 647 95,721

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 74,000 40,311 114,311
Additions - 34,988 34,988
Transfer to ownership - (40,311 ) (40,311 )
At 31 March 2024 74,000 34,988 108,988
DEPRECIATION
At 1 April 2023 33,517 21,949 55,466
Charge for year 10,121 8,747 18,868
Transfer to ownership - (21,949 ) (21,949 )
At 31 March 2024 43,638 8,747 52,385
NET BOOK VALUE
At 31 March 2024 30,362 26,241 56,603
At 31 March 2023 40,483 18,362 58,845

6. FIXED ASSET INVESTMENTS

BJP Construction Ltd (Registered number: 08816050)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

Loans to
group Loans to
undertakings associates Totals
£    £    £   
At 1 April 2023 - 1,001,257 1,001,257
New in year 7,737 6,480 14,217
Repayment in year - (1,000,000 ) (1,000,000 )
Other movement - (7,737 ) (7,737 )
At 31 March 2024 7,737 - 7,737

The company was associated with BJP Holdings (SW) Limited, by virtue of being under common control by the same individuals, until 13 October 2023.

The company became a wholly owned subsidiary of BJP Holdings (SW) Limited on 13 October 2023, by virtue of a share for share exchange.

The company has funded additional costs on behalf of the ultimate parent undertaking.

7. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 12,928 10,767
CIS to recover 12,515 17,225
VAT 25,948 16,871
Prepayments 3,368 3,368
54,759 48,231

Amounts falling due after more than one year:
Other debtors 10,000 10,000

Aggregate amounts 64,759 58,231

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 10,000 10,000
Other loans (see note 10) 75,000 225,000
Hire purchase contracts 14,491 15,089
Trade creditors 86,494 46,650
Tax 779 164,067
Social security and other taxes 12,658 13,566
Other creditors 711 2,074
Directors' current accounts 77,007 84,349
Accrued expenses 2,600 2,600
279,740 563,395

The Directors Loan Account balance is unsecured, interest free and repayable on demand.

BJP Construction Ltd (Registered number: 08816050)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 10) 11,667 21,667
Hire purchase contracts 16,822 15,995
28,489 37,662

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000
Other loans 75,000 225,000
85,000 235,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,667 11,667

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 75,000 225,000
Hire purchase contracts 31,313 31,084
106,313 256,084

The Hire Purchase creditor is secured by way of a charge over the assets on which they are secured.

Lloyds Bank has a fixed and floating debenture charge in place, created on 27 September 2021.

Mr Stephen Pascoe and Mrs Tina Pascoe have a fixed charge for £150,000, created 2 December 2021, for deferred consideration owing on building plots acquired by the company. That deferred consideration was satisfied following sale of completed properties, but the charge has not been registered as being discharged.

Mr Stephen Pascoe and Mrs Tina Pascoe have subsequently extended a further loan of £75,000 (2023 £225,000) with no fixed repayment term. The loan is interest free and repayable upon demand.

BJP Construction Ltd (Registered number: 08816050)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

There were no advances, credits or guarantees in favour of the Director during the period.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £45,428 (2023 - £35,560) were paid to the directors .

The company owed the Directors £77,007 at 31 March 2024, being the balance on the Directors Loan Account and disclosed within other creditors.

The balance is unsecured, interest free and repayable on demand.

On 13 October 2023, the company paid a final dividend for the year ended 31 March 2023 of £1,000,000 to the ultimate parent undertaking. A resolution to that effect was passed on 13 October 2023.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is BJP Holdings (SW) Limited.

The immediate and ultimate parent undertaking and controlling party is BJP Holdings (SW) Limited, but is exempt from preparing consolidated financial statements.

Chartered Certified Accountant's Report to the Board of Directors
on the Unaudited Financial Statements of
BJP Construction Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of BJP Construction Ltd for the year ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of BJP Construction Ltd, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of BJP Construction Ltd and state those matters that I have agreed to state to the Board of Directors of BJP Construction Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that BJP Construction Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BJP Construction Ltd. You consider that BJP Construction Ltd is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of BJP Construction Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Martin Laity Accounting & Tax Practitioner
Kelyn
Old Hill
Helston
Cornwall
TR13 8HT


23 September 2024