J O Developments Limited 12450577 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is development of building projects Digita Accounts Production Advanced 6.30.9574.0 true true true 12450577 2023-05-01 2024-04-30 12450577 2024-04-30 12450577 2 2024-04-30 12450577 core:CurrentFinancialInstruments 2024-04-30 12450577 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 12450577 core:OfficeEquipment 2024-04-30 12450577 core:PlantMachinery 2024-04-30 12450577 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-04-30 12450577 bus:SmallEntities 2023-05-01 2024-04-30 12450577 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 12450577 bus:FilletedAccounts 2023-05-01 2024-04-30 12450577 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 12450577 bus:RegisteredOffice 2023-05-01 2024-04-30 12450577 bus:Director1 2023-05-01 2024-04-30 12450577 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12450577 core:OfficeEquipment 2023-05-01 2024-04-30 12450577 core:PlantMachinery 2023-05-01 2024-04-30 12450577 core:OtherRelatedParties 2023-05-01 2024-04-30 12450577 1 2023-05-01 2024-04-30 12450577 countries:England 2023-05-01 2024-04-30 12450577 2023-04-30 12450577 core:OfficeEquipment 2023-04-30 12450577 core:PlantMachinery 2023-04-30 12450577 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 12450577 2022-05-01 2023-04-30 12450577 2023-04-30 12450577 2 2023-04-30 12450577 core:CurrentFinancialInstruments 2023-04-30 12450577 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 12450577 core:OfficeEquipment 2023-04-30 12450577 core:PlantMachinery 2023-04-30 12450577 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-30 12450577 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Registration number: 12450577

J O Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

J O Developments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

J O Developments Limited

(Registration number: 12450577)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

777

1,343

Current assets

 

Debtors

5

132,303

134,986

Cash at bank and in hand

 

5,790

2,813

 

138,093

137,799

Creditors: Amounts falling due within one year

6

(3,139)

(2,760)

Net current assets

 

134,954

135,039

Net assets

 

135,731

136,382

Capital and reserves

 

Called up share capital

100

100

Retained earnings

135,631

136,282

Shareholders' funds

 

135,731

136,382

For the financial year ending 30 April 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 17 January 2025
 

J Oliver
Director

   
     
 

J O Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
c/o Milsted Langdon LLP
Motivo House
Alvington
Yeovil
Somerset
BA20 2FG

These financial statements were authorised for issue by the director on 17 January 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

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 current 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.

 

J O Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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

25% reducing balance

Office equipment

33% 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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

J O Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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).

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 May 2023

937

1,415

2,352

At 30 April 2024

937

1,415

2,352

Depreciation

At 1 May 2023

542

467

1,009

Charge for the year

99

467

566

At 30 April 2024

641

934

1,575

Carrying amount

At 30 April 2024

296

481

777

At 30 April 2023

395

948

1,343

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

7

121,947

126,947

Other debtors

 

10,356

7,223

Corporation tax

-

816

 

132,303

134,986

 

J O Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Due within one year

Note

2024
£

2023
£

 

Other creditors

 

210

210

Accruals

 

2,925

2,550

Corporation tax liability

4

-

 

3,139

2,760

7

Related party transactions

Summary of transactions with other related parties

OMPD Limited
(Company in which J E B Oliver is also a director and person of significant control)
During the year the company made sales to OMPD Limited totalling £nil (2023 - £20,000).

During the year OMPD Limited made a loan to the company. No interest is charged on this loan and the loan is repayable on demand. At the balance sheet date the amount due from/(to) OMPD Limited was £2,260 (2023 - (£2,260)).

The company has taken advantage of the exemption conferred by FRS 102 s.33.1A not to disclose transactions with other wholly owned members of the group.

 

Loans from related parties

2024

Key management
£

Total
£

At start of period

210

210

At end of period

210

210

The above loan is interest free and repayable on demand.

2023

Key management
£

Total
£

Advanced

210

210

At end of period

210

210

8

Parent and ultimate parent undertaking

The company's immediate parent is James Oliver Holdings Limited, incorporated in England.