Company registration number 12266081 (England and Wales)
FJK CONSTRUCTION & FACILITIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
FJK CONSTRUCTION & FACILITIES LTD
COMPANY INFORMATION
Directors
Mr L M C Coakes
Mrs J Coakes
Company number
12266081
Registered office
59 Whetstone Street
Redditch
Worcestershire
B98 7WA
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
NatWest Bank Plc
Church Green House
Redditch
Worcestershire
B98 8DG
FJK CONSTRUCTION & FACILITIES LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
FJK CONSTRUCTION & FACILITIES LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FJK CONSTRUCTION & FACILITIES LTD FOR THE PERIOD ENDED 29 OCTOBER 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of FJK Construction & Facilities Ltd for the period ended 29 October 2023 which comprise, the balance sheet and the related notes 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 https://www.icaew.com/regulation.
This report is made solely to the board of directors of FJK Construction & Facilities Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of FJK Construction & Facilities Ltd and state those matters that we have agreed to state to the board of directors of FJK Construction & Facilities 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 FJK Construction & Facilities Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that FJK Construction & Facilities Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of FJK Construction & Facilities Ltd. You consider that FJK Construction & Facilities Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of FJK Construction & Facilities 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 financial statements.
Ormerod Rutter Limited
11 November 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
FJK CONSTRUCTION & FACILITIES LTD
BALANCE SHEET
AS AT 29 OCTOBER 2023
29 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
52,010
52,332
Current assets
Stocks
28,893
9,076
Debtors
4
15,882
24,979
Cash at bank and in hand
8,003
24,768
52,778
58,823
Creditors: amounts falling due within one year
5
(31,450)
(25,179)
Net current assets
21,328
33,644
Total assets less current liabilities
73,338
85,976
Creditors: amounts falling due after more than one year
6
(63,159)
(36,480)
Provisions for liabilities
8
(9,643)
(9,943)
Net assets
536
39,553
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
436
39,453
Total equity
536
39,553
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 29 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
FJK CONSTRUCTION & FACILITIES LTD
BALANCE SHEET (CONTINUED)
AS AT 29 OCTOBER 2023
29 October 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 11 November 2024 and are signed on its behalf by:
Mr L M C Coakes
Mrs J Coakes
Director
Director
Company registration number 12266081 (England and Wales)
FJK CONSTRUCTION & FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 OCTOBER 2023
- 4 -
1
Accounting policies
Company information
FJK Construction & Facilities Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 59 Whetstone Street, Redditch, Worcestershire, B98 7WA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% on reducing balance
Office equipment
25% on reducing balance
Motor vehicles
20% on reducing balance
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
FJK CONSTRUCTION & FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2023
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
2022
Number
Number
Total
2
2
FJK CONSTRUCTION & FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2023
- 6 -
3
Tangible fixed assets
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2022
38,000
1,711
30,000
69,711
Additions
4,793
8,250
13,043
At 29 October 2023
38,000
6,504
38,250
82,754
Depreciation and impairment
At 1 November 2022
13,680
699
3,000
17,379
Depreciation charged in the period
4,864
1,451
7,050
13,365
At 29 October 2023
18,544
2,150
10,050
30,744
Carrying amount
At 29 October 2023
19,456
4,354
28,200
52,010
At 31 October 2022
24,320
1,012
27,000
52,332
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
15,882
24,979
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
17,176
7,847
Trade creditors
73
42
Taxation and social security
8,940
12,014
Other creditors
5,261
5,276
31,450
25,179
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
53,257
22,617
Other creditors
9,902
13,863
63,159
36,480
FJK CONSTRUCTION & FACILITIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 OCTOBER 2023
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Hire purchase contracts
13,863
17,824
Bank loans
70,433
30,464
84,296
48,288
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
9,643
9,943
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
50
50
50
50
Ordinary B of £1 each
50
50
50
50
100
100
100
100
10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Loan accounts
-
-
6,764
6,764
-
6,764
6,764
The director's loan account was repaid within nine months of the year end.
11
Ultimate controlling party
There is no ultimate controlling party.