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Registered number: 11914634
Jata Construction (Cornwall) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Whyfield Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11914634
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,565 11,130
Tangible Assets 5 1,086,645 812,544
1,092,210 823,674
CURRENT ASSETS
Stocks 6 1,083,317 488,317
Debtors 7 426,080 787,004
Cash at bank and in hand 159,180 48,984
1,668,577 1,324,305
Creditors: Amounts Falling Due Within One Year 8 (1,942,594 ) (1,174,745 )
NET CURRENT ASSETS (LIABILITIES) (274,017 ) 149,560
TOTAL ASSETS LESS CURRENT LIABILITIES 818,193 973,234
Creditors: Amounts Falling Due After More Than One Year 9 (254,243 ) (56,399 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (143,108 ) (94,156 )
NET ASSETS 420,842 822,679
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 420,742 822,579
SHAREHOLDERS' FUNDS 420,842 822,679
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Robert Taylor
Director
17/10/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jata Construction (Cornwall) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11914634 . The registered office is 1b Paardeberg Road, Bodmin, PL31 1EY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold 50 Years SL
Plant & Machinery 15% RB
Motor Vehicles 25% RB
Computer Equipment 3 Years SL & 15% RB
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. 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 years 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 assets reflect 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 34 (2023: 36)
34 36
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 16,695
As at 31 March 2024 16,695
Amortisation
As at 1 April 2023 5,565
Provided during the period 5,565
As at 31 March 2024 11,130
Net Book Value
As at 31 March 2024 5,565
As at 1 April 2023 11,130
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 April 2023 327,990 152,589 532,165 18,492 1,031,236
Additions - - 241,065 17,873 258,938
Disposals - - (51,850 ) - (51,850 )
Revaluation 185,860 - - - 185,860
As at 31 March 2024 513,850 152,589 721,380 36,365 1,424,184
Depreciation
As at 1 April 2023 13,120 25,400 171,668 8,504 218,692
Provided during the period 277 19,078 114,048 7,603 141,006
Disposals - - (22,159 ) - (22,159 )
As at 31 March 2024 13,397 44,478 263,557 16,107 337,539
Net Book Value
As at 31 March 2024 500,453 108,111 457,823 20,258 1,086,645
As at 1 April 2023 314,870 127,189 360,497 9,988 812,544
6. Stocks
2024 2023
as restated
£ £
Stock 650,000 55,000
Work in progress 433,317 433,317
1,083,317 488,317
7. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 108,754 554,506
Other debtors 317,326 232,498
426,080 787,004
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 64,353 6,650
Trade creditors 1,057,032 302,598
Bank loans and overdrafts 46,683 10,000
Other creditors 161,990 279,973
Taxation and social security 612,536 575,524
1,942,594 1,174,745
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Net obligations under finance lease and hire purchase contracts 168,657 34,732
Bank loans 85,586 21,667
254,243 56,399
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
as restated
£ £
The future minimum finance lease payments are as follows:
Not later than one year 64,353 6,650
Later than one year and not later than five years 168,657 34,732
233,010 41,382
233,010 41,382
11. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 100 100
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Robert Taylor 89,313 85,200 95,812 - 78,701
Mr Jamie Spencer 140,196 155,000 140,312 - 154,884
The above loan is unsecured, interest free and repayable on demand.
13. Related Party Transactions
As of 31/03/2024 the balance owed from Jata Designs Ltd was £5,000.00
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