BJM Plant & Commercials Ltd |
Registered number: |
NI675645 |
Balance Sheet |
as at 31 December 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
125,855 |
|
|
49,687 |
|
Current assets |
Debtors |
4 |
|
41,105 |
|
|
26,187 |
Cash at bank and in hand |
|
|
4,641 |
|
|
676 |
|
|
|
45,746 |
|
|
26,863 |
|
Creditors: amounts falling due within one year |
5 |
|
(80,430) |
|
|
(38,378) |
|
Net current liabilities |
|
|
|
(34,684) |
|
|
(11,515) |
|
Total assets less current liabilities |
|
|
|
91,171 |
|
|
38,172 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(8,000) |
|
|
- |
|
Provisions for liabilities |
7 |
|
|
(5,636) |
|
|
- |
|
|
Net assets |
|
|
|
77,535 |
|
|
38,172 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up, issued and fully paid share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
77,533 |
|
|
38,170 |
|
Shareholders' funds |
9 |
|
|
77,535 |
|
|
38,172 |
|
|
|
|
|
|
|
|
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 under section 444 of the Companies Act 2006. |
|
The notes on pages 6 to 9 form an integral part of the accounts. |
|
|
|
Stephen Lowry |
Director |
Approved by the board on 23 September 2024 |
|
BJM Plant & Commercials Ltd |
Notes to the Accounts |
for the year ended 31 December 2023 |
|
|
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. |
|
|
The financial statements are presented in UK Sterling pounds (£) |
|
|
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. |
|
|
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. |
|
|
Financial instruments |
|
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 January 2023 |
66,250 |
|
Additions |
124,167 |
|
Disposals |
(4,750) |
|
At 31 December 2023 |
185,667 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2023 |
16,563 |
|
Charge for the year |
43,249 |
|
At 31 December 2023 |
59,812 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2023 |
125,855 |
|
At 31 December 2022 |
49,687 |
|
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
41,105 |
|
25,306 |
|
Deferred tax asset |
|
|
|
|
- |
|
881 |
|
|
|
|
|
|
41,105 |
|
26,187 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
4,800 |
|
- |
|
Trade creditors |
24,036 |
|
9,108 |
|
Taxes and social security costs |
12,836 |
|
18,613 |
|
Other creditors |
38,758 |
|
10,657 |
|
|
|
|
|
|
80,430 |
|
38,378 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
8,000 |
|
- |
|
|
|
|
|
|
|
|
|
|
7 |
Provision for liabilities |
|
|
Deferred Taxation |
£ |
|
|
At 1 January 2023 |
881 |
|
- |
|
Charged to the profit and loss |
(6,517) |
|
881 |
|
|
At 31 December 2023 |
(5,636) |
|
881 |
|
|
|
|
|
|
|
|
|
|
|
The provision for deferred taxation is made up as follows: |
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
|
Accelerated capital allowances |
(6,517) |
|
680 |
|
|
|
|
|
|
|
(6,517) |
|
680 |
|
|
|
|
|
|
|
|
|
8 |
Directors' advances, credits and guarantees |
|
|
During the year the directors made no advances and the company made no repayments leaving a balance owed to the directors at the year end of £10,158. The balances are interest free and repayable on demand. |
|
9 |
Statement of changes in equity |
|
|
The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments. |
|
10 |
Other information |
|
|
BJM Plant & Commercials Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
|
30 Carncorn Road |
|
Castlederg |
|
Co Tyrone |
|
BT81 7RH |