2023-04-012024-03-312024-03-31false07594050R J FORD CONSTRUCTION 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R J FORD CONSTRUCTION LIMITED

Registered Number
07594050
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

R J FORD CONSTRUCTION LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

FORD, Richard John

Registered Address

Building 2a, D Site Kemble Airfield
Kemble
Cirencester
GL7 6BA

Registered Number

07594050 (England and Wales)
R J FORD CONSTRUCTION LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3-125
Tangible assets4264,989293,570
264,989293,695
Current assets
Stocks10,00050,000
Debtors197,57269,576
Cash at bank and on hand57,99592,663
265,567212,239
Creditors amounts falling due within one year(459,945)(292,554)
Net current assets (liabilities)(194,378)(80,315)
Total assets less current liabilities70,611213,380
Creditors amounts falling due after one year(63,067)(129,382)
Net assets7,54483,998
Capital and reserves
Called up share capital22
Profit and loss account7,54283,996
Shareholders' funds7,54483,998
The financial statements were approved and authorised for issue by the Director on 15 November 2024, and are signed on its behalf by:
FORD, Richard John
Director
Registered Company No. 07594050
R J FORD CONSTRUCTION LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year34
3.Intangible assets

Total

£
Cost or valuation
At 01 April 2310,500
At 31 March 2410,500
Amortisation and impairment
At 01 April 2310,375
Charge for year125
At 31 March 2410,500
Net book value
At 31 March 24-
At 31 March 23125
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23506,180
Additions46,610
Disposals(45,398)
At 31 March 24507,393
Depreciation and impairment
At 01 April 23212,610
Charge for year59,718
On disposals(29,925)
At 31 March 24242,403
Net book value
At 31 March 24264,989
At 31 March 23293,570
5.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts28,06775,215
Finance leases are secured against the asset in which they relate to