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REGISTERED NUMBER: 08171712 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

JASON GILLETT GROUNDWORKS LIMITED

JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JASON GILLETT GROUNDWORKS LIMITED

Company Information
for the year ended 31 March 2024







Directors: Mrs P A Gillett
J Gillett





Registered office: 6 Worcester Road
Chipping Norton
Oxfordshire
OX7 5XT





Registered number: 08171712 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 - -
Tangible assets 6 577,961 492,673
577,961 492,673

Current assets
Debtors 7 308,735 506,366
Cash at bank and in hand 160,841 21,134
469,576 527,500
Creditors
Amounts falling due within one year 8 394,739 425,973
Net current assets 74,837 101,527
Total assets less current liabilities 652,798 594,200

Creditors
Amounts falling due after more than one
year

9

(192,877

)

(338,081

)

Provisions for liabilities (144,490 ) (93,608 )
Net assets 315,431 162,511

Capital and reserves
Called up share capital 10 2 2
Retained earnings 315,429 162,509
Shareholders' funds 315,431 162,511

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

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

The directors acknowledge their 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.

JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Balance Sheet - continued
31 March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





Mrs P A Gillett - Director


JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Notes to the Financial Statements
for the year ended 31 March 2024


1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Worcester Road, Chipping Norton, Oxfordshire, OX7 5XT.

2. Statement of compliance

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. These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A. The Financial Reporting Standard applicable in the UK and Republic of Ireland.

3. Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation pf certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods; the amount of revenue can be measured reliably; It is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. Employees and directors

The average number of employees during the year was 11 (2023 - 11 ) .

JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Intangible fixed assets
Goodwill
£   
Cost
At 1 April 2023
and 31 March 2024 18,000
Amortisation
At 1 April 2023
and 31 March 2024 18,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

6. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 April 2023 1,287,250
Additions 237,677
Disposals (51,100 )
At 31 March 2024 1,473,827
Depreciation
At 1 April 2023 794,577
Charge for year 130,594
Eliminated on disposal (29,305 )
At 31 March 2024 895,866
Net book value
At 31 March 2024 577,961
At 31 March 2023 492,673

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 298,508 491,841
Other debtors 10,227 14,525
308,735 506,366

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 62,500 121,669
Hire purchase contracts 86,249 41,734
Trade creditors 58,040 172,459
Taxation and social security 75,848 19,604
Other creditors 112,102 70,507
394,739 425,973

JASON GILLETT GROUNDWORKS LIMITED (REGISTERED NUMBER: 08171712)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


9. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 62,500 194,900
Hire purchase contracts 130,377 143,181
192,877 338,081

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

2024 2023
£    £   
Mrs P A Gillett and J Gillett
Balance outstanding at start of year 10,722 (534 )
Amounts advanced 60,691 51,802
Amounts repaid (71,421 ) (40,546 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (8 ) 10,722