Company registration number 06582788 (England and Wales)
J&D GROUNDWORKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
J&D GROUNDWORKS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
J&D GROUNDWORKS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF J&D GROUNDWORKS LIMITED FOR THE YEAR ENDED 31 JULY 2024
- 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 J&D Groundworks Limited for the year ended 31 July 2024 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 J&D Groundworks Limited, as a body, in accordance with the terms of our engagement letter dated 25 April 2024. Our work has been undertaken solely to prepare for your approval the financial statements of J&D Groundworks Limited and state those matters that we have agreed to state to the board of directors of J&D Groundworks Limited, 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 J&D Groundworks Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that J&D Groundworks Limited 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 J&D Groundworks Limited. You consider that J&D Groundworks Limited 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 financial statements of J&D Groundworks Limited. 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.

Carpenter Box
17 March 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
J&D GROUNDWORKS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
12,500
15,000
Tangible assets
4
142,151
131,564
154,651
146,564
Current assets
Stocks
16,000
15,000
Debtors
5
18,441
30,089
Cash at bank and in hand
61,216
17,085
95,657
62,174
Creditors: amounts falling due within one year
6
(121,071)
(161,949)
Net current liabilities
(25,414)
(99,775)
Total assets less current liabilities
129,237
46,789
Creditors: amounts falling due after more than one year
7
(86,811)
(31,719)
Provisions for liabilities
(10,300)
(10,300)
Net assets
32,126
4,770
Capital and reserves
Called up share capital
8
1,000
1,000
Revaluation reserve
33,823
33,662
Profit and loss reserves
(2,697)
(29,892)
Total equity
32,126
4,770

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 year ended 31 July 2024 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 year 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.

J&D GROUNDWORKS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 17 March 2025 and are signed on its behalf by:
Mrs C J Geall
Director
Company registration number 06582788 (England and Wales)
J&D GROUNDWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information

J&D Groundworks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1RL.

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

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment. true

At the balance sheet date the company is in a net current liabilities position. The company is reliant on the ongoing support of its directors and is meeting its liabilities as they fall due. The financial statements do not include any adjustments that would result in the withdrawal of their support.

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.

1.5
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 equipment
25% Straight line
Fixtures and fittings
25% Straight line
Computers
33% Straight line
Motor vehicles
25% Diminishing balance basis
J&D GROUNDWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.7
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.

1.8
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.

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.

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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

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.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

J&D GROUNDWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 6 -
1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 2).

3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2023 and 31 July 2024
50,000
Amortisation and impairment
At 1 August 2023
35,000
Amortisation charged for the year
2,500
At 31 July 2024
37,500
Carrying amount
At 31 July 2024
12,500
At 31 July 2023
15,000
J&D GROUNDWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 August 2023
121,103
10,065
1,931
76,293
209,392
Additions
8,366
2,704
-
0
-
0
11,070
Revaluation
191
(30)
-
0
-
0
161
At 31 July 2024
129,660
12,739
1,931
76,293
220,623
Depreciation and impairment
At 1 August 2023
40,144
1,179
713
35,792
77,828
Depreciation charged in the year
-
0
-
0
644
-
0
644
At 31 July 2024
40,144
1,179
1,357
35,792
78,472
Carrying amount
At 31 July 2024
89,516
11,560
574
40,501
142,151
At 31 July 2023
80,959
8,886
1,218
40,501
131,564

The assets are valued at £142,151 by the directors, on an open market value basis by reference to market evidence of transactions prices for similar assets.

The following assets, plant & machinery, fixtures and fittings, computers and motor vehicles, are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

2024
2023
£
£
Cost
225,397
217,030
Accumulated depreciation
(154,333)
(115,896)
Carrying value
71,064
101,134
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
16,018
21,777
Other debtors
2,423
8,312
18,441
30,089
J&D GROUNDWORKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
19,415
7,454
Trade creditors
9,850
16,982
Taxation and social security
7,510
3,024
Other creditors
84,296
134,489
121,071
161,949

Included in other creditors are hire purchase liabilities totalling £17,607 (2023 - £20,835) which are secured against the assets financed.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
83,742
12,927
Other creditors
3,069
18,792
86,811
31,719

Included in other creditors are hire purchase liabilities totalling £3,069 (2023 - £18,792) which are secured against the assets financed.

8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
500
500
500
500
Ordinary B shares of £1 each
500
500
500
500
1,000
1,000
1,000
1,000
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
10,653
8,877
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