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Registration number: 12463365

JWC Construction Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

JWC Construction Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

JWC Construction Ltd

Company Information

Director

Mr J Wigan

Registered office

2 Lakeview Stables
Lower St Clere
Kemsing
Sevenoaks
TN15 6NL

Accountants

T Burton & Co Ltd
Suite 1, Scotts Place
24 Scotts Road
Bromley
Kent
BR1 3QD

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
JWC Construction Ltd
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of JWC Construction Ltd for the year ended 29 February 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of JWC Construction Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of JWC Construction Ltd and state those matters that we have agreed to state to the Board of Directors of JWC Construction Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JWC Construction Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that JWC Construction Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of JWC Construction Ltd. You consider that JWC Construction Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of JWC Construction Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

T Burton & Co Ltd
Suite 1, Scotts Place
24 Scotts Road
Bromley
Kent
BR1 3QD

28 November 2024

 

JWC Construction Ltd

(Registration number: 12463365)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed Assets

 

Intangible assets

4

1,000

2,000

Tangible Assets

5

24,508

4,751

 

25,508

6,751

Current assets

 

Debtors

6

49,725

65,333

Cash at bank and in hand

 

1,108

121

 

50,833

65,454

Creditors: Amounts falling due within one year

7

(118,281)

(100,451)

Net current liabilities

 

(67,448)

(34,997)

Net liabilities

 

(41,940)

(28,246)

Capital and Reserves

 

Called up share capital

8

100

100

Retained Earnings

(42,040)

(28,346)

Shareholders' deficit

 

(41,940)

(28,246)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr J Wigan
Director

 

JWC Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
2 Lakeview Stables
Lower St Clere
Kemsing
Sevenoaks
TN15 6NL

These financial statements were authorised for issue by the director on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

JWC Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% reducing balance

Motor vehicles

20% reducing balance

Office equipment

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

JWC Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

JWC Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2023

5,000

5,000

At 29 February 2024

5,000

5,000

Amortisation

At 1 March 2023

3,000

3,000

Amortisation charge

1,000

1,000

At 29 February 2024

4,000

4,000

Carrying amount

At 29 February 2024

1,000

1,000

At 28 February 2023

2,000

2,000

5

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2023

1,901

25,500

4,000

31,401

At 29 February 2024

1,901

25,500

4,000

31,401

Depreciation

At 1 March 2023

1,502

2,196

1,952

5,650

Charge for the year

372

461

410

1,243

At 29 February 2024

1,874

2,657

2,362

6,893

Carrying amount

At 29 February 2024

27

22,843

1,638

24,508

At 28 February 2023

399

2,304

2,048

4,751

6

Debtors

 

JWC Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Current

2024
£

2023
£

Trade Debtors

49,071

35,000

Other debtors

654

30,333

 

49,725

65,333

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade Creditors

48,500

28,726

Taxation and social security

5,916

10,759

Accruals and deferred income

1,573

1,537

Other creditors

62,292

59,429

118,281

100,451

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100