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Registered number: 09064377
R James & Son Builders Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Balme Kitchen & Pearce
25 Lemon Street
Truro
Cornwall
TR1 2LS
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 09064377
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 342,684 343,385
342,684 343,385
CURRENT ASSETS
Debtors 5 28,112 6,677
Cash at bank and in hand 65,508 128,152
93,620 134,829
Creditors: Amounts Falling Due Within One Year 6 (384,666 ) (406,007 )
NET CURRENT ASSETS (LIABILITIES) (291,046 ) (271,178 )
TOTAL ASSETS LESS CURRENT LIABILITIES 51,638 72,207
Creditors: Amounts Falling Due After More Than One Year 7 (123,525 ) (123,525 )
NET LIABILITIES (71,887 ) (51,318 )
CAPITAL AND RESERVES
Called up share capital 8 50 50
Income Statement (71,937 ) (51,368 )
SHAREHOLDERS' FUNDS (71,887) (51,318)
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Page 2
For the year ending 31 May 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 Income Statement.
On behalf of the board
Mr Richard James
Director
6 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
R James & Son Builders Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09064377 . The registered office is 25 Lemon Street, Truro, Cornwall, TR1 2LS.
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 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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
2.3. 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 No depreciation
Plant & Machinery 10% reducing balance
Motor Vehicles 20% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 June 2023 337,512 9,354 8,495 355,361
As at 31 May 2024 337,512 9,354 8,495 355,361
Depreciation
As at 1 June 2023 - 4,621 7,355 11,976
Provided during the period - 473 228 701
As at 31 May 2024 - 5,094 7,583 12,677
Net Book Value
As at 31 May 2024 337,512 4,260 912 342,684
As at 1 June 2023 337,512 4,733 1,140 343,385
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 25,969 5,082
VAT 2,143 1,595
28,112 6,677
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1,265
Bank loans and overdrafts 5,001 7,727
Accruals and deferred income 2,100 1,900
Director's loan account 377,565 395,115
384,666 406,007
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 123,525 123,525
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8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 50 50
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