REGISTERED NUMBER: |
G J R Construction Limited |
Unaudited Financial Statements |
for the period |
1st April 2023 to 30th March 2024 |
REGISTERED NUMBER: |
G J R Construction Limited |
Unaudited Financial Statements |
for the period |
1st April 2023 to 30th March 2024 |
G J R Construction Limited (Registered number: 04485814) |
Contents of the Financial Statements |
for the period 1st April 2023 to 30th March 2024 |
Page |
Company information | 1 |
Balance sheet | 2 | to | 3 |
Notes to the financial statements | 4 | to | 7 |
G J R Construction Limited |
Company Information |
for the period 1st April 2023 to 30th March 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Academy House |
Shedden Park Road |
Kelso |
Roxburghshire |
TD5 7AL |
G J R Construction Limited (Registered number: 04485814) |
Balance Sheet |
30th March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Stocks |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Revaluation reserve |
Retained earnings |
Shareholders' funds |
G J R Construction Limited (Registered number: 04485814) |
Balance Sheet - continued |
30th March 2024 |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
G J R Construction Limited (Registered number: 04485814) |
Notes to the Financial Statements |
for the period 1st April 2023 to 30th March 2024 |
1. | Statutory information |
G J R Construction Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable for construction work, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Motor vehicles | - |
Office equipment | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Stocks |
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion. |
Financial instruments |
The following assets and liabilities are classified as financial instruments - trade creditors, accruals, other loans, bank loans and directors' loans. |
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors' loans (being repayable on demand), trade creditors, accruals and other loans are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
G J R Construction Limited (Registered number: 04485814) |
Notes to the Financial Statements - continued |
for the period 1st April 2023 to 30th March 2024 |
2. | Accounting policies - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
Employee benefits |
Short term employee benefits, including holiday pay, are recognised as an expense in the income statement in the period in which they are incurred. |
Going concern |
The director has considered the company's financial position for a period of 12 months and beyond from the date of signing these financial statements and has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing these financial statements. |
3. | Employees and directors |
The average number of employees during the period was |
G J R Construction Limited (Registered number: 04485814) |
Notes to the Financial Statements - continued |
for the period 1st April 2023 to 30th March 2024 |
4. | Tangible fixed assets |
Improvements |
to | Plant and | Motor | Office |
property | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1st April 2023 |
Additions |
At 30th March 2024 |
Depreciation |
At 1st April 2023 |
Charge for period |
At 30th March 2024 |
Net book value |
At 30th March 2024 |
At 31st March 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1st April 2023 |
Additions |
Revaluations | 99,498 |
At 30th March 2024 |
Net book value |
At 30th March 2024 |
At 31st March 2023 |
Fair value at 30th March 2024 is represented by: |
£ |
Valuation in 2020 | 16,840 |
Valuation in 2021 | (4,289 | ) |
Valuation in 2024 | 99,498 |
Cost | 482,947 |
594,996 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 482,947 | 465,246 |
Investment property was valued on an open market basis on 30th March 2024 by the director . |
G J R Construction Limited (Registered number: 04485814) |
Notes to the Financial Statements - continued |
for the period 1st April 2023 to 30th March 2024 |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
9. | Secured debts |
North East Property LP holds a fixed and floating charge on the freehold and leasehold property and all other assets belonging to the company. |
10. | Contingent liabilities |
As at 30th March 2024 liabilities to trade creditors are being disputed in the amounts of £71,657 and £186,833. |
These liabilities, being disputed in their totality and subject to legal proceedings, are currently not recognised within the company financial statements as at 30th March 2024. |
The director is confident any claims in respect of these trade creditors will be successfully defended. |
11. | Related party disclosures |
At 30th March 2024 a loan of £183,395 (2023 - £184,693) was outstanding payable to the company by Nationwide Design & Development Limited, a company which is controlled by the director G J Robertson. This loan is unsecured, interest free and is repayable on demand. |
At 30th March 2024 a loan of £23,313 (2023 - £23,500) was outstanding payable by the company to Roadforms UK Ltd, a company which is controlled by the director G J Robertson. This loan is unsecured, interest free and is repayable on demand. |