Company registration number 11773226 (England and Wales)
JUST-BUILD UK. LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
JUST-BUILD UK. LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JUST-BUILD UK. LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
31 January 2023
Notes
£
£
CURRENT ASSETS
Debtors
3
2,970
Cash at bank and in hand
2,887
40
5,857
40
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
4
(189,805)
-
NET CURRENT (LIABILITIES)/ASSETS
(183,948)
40
CAPITAL AND RESERVES
Called up share capital
40
40
Profit and loss reserves
(183,988)
TOTAL EQUITY
(183,948)
40
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 December 2024
Mr S Jabbar
Director
Company registration number 11773226 (England and Wales)
JUST-BUILD UK. LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
ACCOUNTING POLICIES
Company information
Just-Build UK. Ltd is a private company limited by shares incorporated in England and Wales. The registered office is c/o E F G Food Technology Park, Llantarnam Park Way, Llantarnam Industrial Park, Cwmbran, NP44 3GA.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The accounts show that the company had net liabilities of £183,948 at the balance sheet date. The directors have therefore had to consider the appropriateness of the going concern basis.true
The company has been able to finance its operations largely because of support from the directors and other creditors. Were this support not available, the company may not be able to continue trading.
The directors are confident that the company will be able to meet its obligations for at least the next twelve months with the continuing support of these creditors. They therefore consider it appropriate to prepare the accounts on the going concern basis.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
JUST-BUILD UK. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
ACCOUNTING POLICIES
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2023
Number
Number
Total
7
3
DEBTORS
2023
2023
Amounts falling due within one year:
£
£
Other debtors
2,970
JUST-BUILD UK. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
3
DEBTORS
(Continued)
- 4 -
Included within other debtors is a balance of £40 owed to by group company.
4
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2023
£
£
Taxation and social security
29,697
Other creditors
160,108
189,805
Included within other creditors is a balance of £155,456 owed to a group company.
5
AUDIT REPORT INFORMATION
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Senior Statutory Auditor:
Ataf Salim
Statutory Auditor:
Kilsby & Williams LLP
Date of audit report:
24 December 2024
6
PARENT COMPANY
The immediate and ultimate parent is Efg Food & Tech Holdings Limited. Efg Food & Tech Holdings Limited is the largest and only group in which these financial statements are consolidated. The consolidated financial statements are available at Companies House, Crown Way, Maindy, Cardiff, C4 3UZ.
Mr S Hussain is considered to be the ultimate controlling party by virtue of his controlling interest in the ultimate parent company.