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Registered number: 06302439
JKS Carpentry Services Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Lisa M Stretton Chartered Accountant
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06302439
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,054 23,358
19,054 23,358
CURRENT ASSETS
Debtors 5 930 2,554
Cash at bank and in hand 13,745 19,165
14,675 21,719
Creditors: Amounts Falling Due Within One Year 6 (21,478 ) (18,243 )
NET CURRENT ASSETS (LIABILITIES) (6,803 ) 3,476
TOTAL ASSETS LESS CURRENT LIABILITIES 12,251 26,834
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (3,620 ) (4,438 )
NET ASSETS 8,631 22,396
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 8,531 22,296
SHAREHOLDERS' FUNDS 8,631 22,396
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Stretton
Director
03/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JKS Carpentry Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06302439 . The registered office is 9 Felstead Close, Dosthill, Tamworth, Staffs, B77 1QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% per annum
Motor Vehicles 10% per annum
Computer Equipment 25% per annum
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Manufacturing 1 1
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 July 2023 8,472 37,333 1,398 47,203
Additions 185 - - 185
As at 30 June 2024 8,657 37,333 1,398 47,388
Depreciation
As at 1 July 2023 7,778 15,207 860 23,845
Provided during the period 446 3,734 309 4,489
As at 30 June 2024 8,224 18,941 1,169 28,334
Net Book Value
As at 30 June 2024 433 18,392 229 19,054
As at 1 July 2023 694 22,126 538 23,358
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 314 2,015
Prepayments and accrued income 616 539
930 2,554
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,773 895
Corporation tax 7,093 7,472
Net wages 1,047 -
Accruals and deferred income - 31
Director's loan account 11,565 9,845
21,478 18,243
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 3,620 4,438
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
2024 2023
£ £
Mr Simon Stretton 40,417 28,600
10. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 40,417 28,600
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Simon Stretton by virtue of his ownership of 50% of the issued share capital in the company.
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