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REGISTERED NUMBER: 04135726 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

JOHN PECK CONSTRUCTION LTD

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHN PECK CONSTRUCTION LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: J A Peck





SECRETARY: Mrs K J Peck





REGISTERED OFFICE: Unit 2 Pritchetts Way
Rookley
Ventnor
Isle of Wight
PO38 3LT





REGISTERED NUMBER: 04135726 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,088 299,746
Investment property 5 255,000 -
321,088 299,746

CURRENT ASSETS
Stocks 850,000 820,000
Debtors 6 1,266,626 860,691
Cash at bank and in hand 41 116
2,116,667 1,680,807
CREDITORS
Amounts falling due within one year 7 1,623,951 1,234,752
NET CURRENT ASSETS 492,716 446,055
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,804

745,801

CREDITORS
Amounts falling due after more than one year 8 (61,995 ) (97,560 )

PROVISIONS FOR LIABILITIES (22,384 ) -
NET ASSETS 729,425 648,241

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

BALANCE SHEET - continued
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 21,770 -
Retained earnings 707,653 648,239
SHAREHOLDERS' FUNDS 729,425 648,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24th October 2024 and were signed by:





J A Peck - Director


JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

John Peck Construction Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of consideration received for goods and services or receivable based on the stage of completion of the contract, 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment properties are included in the balance sheet at fair value and not depreciated. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
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 based on the stage of completion of the contract.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 as to produce a constant periodic rate of charge of 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 the profit and loss account as incurred.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st February 2023 220,000 292,786 6,665 121,900 641,351
Additions 6,482 - 1,121 17,750 25,353
Disposals - (33,182 ) - - (33,182 )
Reclassification/transfer (226,482 ) - - - (226,482 )
At 31st January 2024 - 259,604 7,786 139,650 407,040
DEPRECIATION
At 1st February 2023 - 234,226 4,614 102,765 341,605
Charge for year - 12,014 794 9,222 22,030
Eliminated on disposal - (22,683 ) - - (22,683 )
At 31st January 2024 - 223,557 5,408 111,987 340,952
NET BOOK VALUE
At 31st January 2024 - 36,047 2,378 27,663 66,088
At 31st January 2023 220,000 58,560 2,051 19,135 299,746

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 28,518
Reclassification/transfer 226,482
At 31st January 2024 255,000
NET BOOK VALUE
At 31st January 2024 255,000

Fair value at 31st January 2024 is represented by:
£   
Valuation in 2024 28,518
Cost 226,482
255,000

Investment property has been stated at fair value of £255,000 as determined by a valuation provided by the director.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 717,376 655,691
Other debtors 549,250 205,000
1,266,626 860,691

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 160,837 126,394
Hire purchase contracts 88,578 111,239
Trade creditors 1,189,805 859,794
Taxation and social security 108,707 63,766
Other creditors 76,024 73,559
1,623,951 1,234,752

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,170 24,113
Hire purchase contracts - 73,447
Other creditors 48,825 -
61,995 97,560

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 150,889 115,746
Bank loans 23,118 34,761
174,007 150,507

The bank borrowings are secured with a debenture including a fixed and floating charge over all the property or undertaking of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1.00 2 2

11. RESERVES
Fair
value
reserve
£   
Fair value gain on investments 28,518
Deferred tax on fair value gain on investments (6,748 )

At 31st January 2024 21,770

12. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £7,784 (2023: Nil). This includes amounts due within one year of £5,838.

JOHN PECK CONSTRUCTION LTD (REGISTERED NUMBER: 04135726)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024


13. RELATED PARTY DISCLOSURES

Included in other creditors is a loan from the director of £1,075 (2023: £60,242).