JS Plastering Limited 09193957 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of a plasterer. Digita Accounts Production Advanced 6.30.9574.0 true true 09193957 2023-04-01 2024-03-31 09193957 2024-03-31 09193957 bus:OrdinaryShareClass1 2024-03-31 09193957 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 09193957 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 09193957 core:CurrentFinancialInstruments 2024-03-31 09193957 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09193957 core:Non-currentFinancialInstruments 2024-03-31 09193957 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 09193957 core:FurnitureFittingsToolsEquipment 2024-03-31 09193957 core:MotorVehicles 2024-03-31 09193957 bus:SmallEntities 2023-04-01 2024-03-31 09193957 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09193957 bus:FilletedAccounts 2023-04-01 2024-03-31 09193957 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09193957 bus:RegisteredOffice 2023-04-01 2024-03-31 09193957 bus:Director1 2023-04-01 2024-03-31 09193957 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09193957 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09193957 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09193957 core:MotorVehicles 2023-04-01 2024-03-31 09193957 core:PlantMachinery 2023-04-01 2024-03-31 09193957 countries:EnglandWales 2023-04-01 2024-03-31 09193957 2023-03-31 09193957 core:FurnitureFittingsToolsEquipment 2023-03-31 09193957 core:MotorVehicles 2023-03-31 09193957 2022-04-01 2023-03-31 09193957 2023-03-31 09193957 bus:OrdinaryShareClass1 2023-03-31 09193957 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 09193957 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 09193957 core:CurrentFinancialInstruments 2023-03-31 09193957 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09193957 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 09193957 core:Non-currentFinancialInstruments 2023-03-31 09193957 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 09193957 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-03-31 09193957 core:FurnitureFittingsToolsEquipment 2023-03-31 09193957 core:MotorVehicles 2023-03-31 09193957 core:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09193957

JS Plastering Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

JS Plastering Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

JS Plastering Limited

Company Information

Director

Mr Jeremy Stevens

Registered office

Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

Accountants

Newsham Hanson Accountants Limited
Accountants and Business Advisors
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

JS Plastering Limited

(Registration number: 09193957)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

12,678

17,360

Current assets

 

Stocks

5

-

1,150

Debtors

6

4,434

6,812

Cash at bank and in hand

 

15,761

3,501

 

20,195

11,463

Creditors: Amounts falling due within one year

7

(20,079)

(11,065)

Net current assets

 

116

398

Total assets less current liabilities

 

12,794

17,758

Creditors: Amounts falling due after more than one year

7

(3,156)

(17,566)

Net assets

 

9,638

192

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

9,538

92

Shareholders' funds

 

9,638

192

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 October 2024
 

.........................................
Mr Jeremy Stevens
Director

 

JS Plastering Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

These financial statements were authorised for issue by the director on 8 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JS Plastering Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% straight line basis

Motor vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

JS Plastering Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

JS Plastering Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,500

26,725

28,225

At 31 March 2024

1,500

26,725

28,225

Depreciation

At 1 April 2023

1,500

9,365

10,865

Charge for the year

-

4,682

4,682

At 31 March 2024

1,500

14,047

15,547

Carrying amount

At 31 March 2024

-

12,678

12,678

At 31 March 2023

-

17,360

17,360

Included within the net book value of tangible assets is £12,678 (2023 - £17,360) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £4,682 (2023 - £4,682).

5

Stocks

2024
£

2023
£

Work in progress

-

1,150

6

Debtors

Current

2024
£

2023
£

Other debtors

4,434

6,812

 

4,434

6,812

 

JS Plastering Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

14,253

5,659

Amounts owed to related parties

108

-

Other creditors

 

5,718

5,406

 

20,079

11,065

Due after one year

 

Loans and borrowings

9

3,156

17,566

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

3,156

17,566

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       
 

JS Plastering Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

3,156

4,888

Hire purchase contracts

-

12,678

3,156

17,566

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,185

977

Hire purchase contracts

13,068

4,682

14,253

5,659

10

Control

The company is controlled by the director who owns 100% of the called up share capital.