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Registered number: 06072190
JST Construction Limited
Unaudited Financial Statements
For The Year Ended 31 January 2024
4 Rossmore Business Village
Inward Way
Ellesmere Port
Cheshire
CH65 3EY
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06072190
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 49,544 34,018
49,544 34,018
CURRENT ASSETS
Stocks 5 5,000 -
Debtors 6 285,154 116,671
Cash at bank and in hand 241,198 177,619
531,352 294,290
Creditors: Amounts Falling Due Within One Year 7 (288,680 ) (227,772 )
NET CURRENT ASSETS (LIABILITIES) 242,672 66,518
TOTAL ASSETS LESS CURRENT LIABILITIES 292,216 100,536
Creditors: Amounts Falling Due After More Than One Year 8 (13,032 ) (23,330 )
NET ASSETS 279,184 77,206
CAPITAL AND RESERVES
Called up share capital 10 1,001 1,001
Profit and Loss Account 278,183 76,205
SHAREHOLDERS' FUNDS 279,184 77,206
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For the year ending 31 January 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 Stuart Terrace
Director
27/10/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JST Construction Limited Registered number 06072190 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 8 Cedab Ind Est, Cedab Road, Ellesmere Port, CH65 4FE.
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. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to ... on a straight line basis over their expected useful economic lives, which range from ... to ... years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. 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 15% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% straight line
2.5. 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.
2.6. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 6 6
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 3,654 45,792 2,567 10,143 62,156
Additions 3,143 37,000 504 3,470 44,117
Disposals - (19,250 ) - - (19,250 )
As at 31 January 2024 6,797 63,542 3,071 13,613 87,023
Depreciation
As at 1 February 2023 2,098 19,000 1,457 5,583 28,138
Provided during the period 746 11,233 361 3,017 15,357
Disposals - (6,016 ) - - (6,016 )
As at 31 January 2024 2,844 24,217 1,818 8,600 37,479
Net Book Value
As at 31 January 2024 3,953 39,325 1,253 5,013 49,544
As at 1 February 2023 1,556 26,792 1,110 4,560 34,018
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
5. Stocks
2024 2023
£ £
Materials 1,000 -
Work in progress 4,000 -
5,000 -
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 82,565 12,505
VAT 26,645 43,814
Net wages 511 237
Director's loan account 615 10,184
Amounts owed by associates 174,818 49,931
285,154 116,671
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 53,482 73,848
Bank loans and overdrafts 6,047 -
Corporation tax 76,137 36,684
Other taxes and social security 4,188 2,948
Other creditors 931 562
Credit cards 3,249 21,690
Accruals and deferred income 144,646 92,040
288,680 227,772
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,032 23,330
13,032 23,330
9. Secured Creditors
Of the creditors the following amounts are secured.
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,001 1,001
2024 2023
Allotted, called up and fully paid £ £
500 Ordinary A shares of £ 1.000 each 500 500
500 Ordinary B shares of £ 1.000 each 500 500
1,000 1,000
Preference Shares
2024 2023
Allotted, called up and fully paid £ £
1 Preference Shares of £ 1.000 each 1 1
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11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Stuart Terrace 10,184 815 10,384 - 615
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Stuart Terrace 46,362 51,000
12. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 63,162 52,000
63,162 52,000
13. Related Party Transactions
At the balance sheet date the company was owed £174,818 (2023 - £49,931) by JST Property Rentals Limited a company under common control of the directors.
14. Controlling Party
The company's controlling party is The director Mr Stuart Terrace by virtue of his ownership of 99.9% of the issued share capital in the company.
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