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REGISTERED NUMBER: 09988276 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

JCO DEVELOPMENTS LIMITED

JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JCO DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R J Wilcox
Mrs S A Wilcox
O Wilcox





REGISTERED OFFICE: 7 Pinfold Lane
Ruskington
Sleaford
Lincolnshire
NG34 9EU





REGISTERED NUMBER: 09988276 (England and Wales)

JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 229,340 241,849

CURRENT ASSETS
Stocks 8,530,438 9,604,573
Debtors 6 153,946 491,174
Cash at bank 2,054,810 748,601
10,739,194 10,844,348
CREDITORS
Amounts falling due within one year 7 6,902,324 8,644,001
NET CURRENT ASSETS 3,836,870 2,200,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,066,210

2,442,196

CREDITORS
Amounts falling due after more than one
year

8

(1,066,441

)

(61,141

)

PROVISIONS FOR LIABILITIES 10 (57,335 ) (60,462 )
NET ASSETS 2,942,434 2,320,593

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,942,334 2,320,493
SHAREHOLDERS' FUNDS 2,942,434 2,320,593

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 April 2025 and were signed on its behalf by:





R J Wilcox - Director


JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

JCO Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention, unless otherwise specified within these accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
No significant judgements have had to be made by the directors in preparing these financial statements.

The directors have made key assumptions in the determination of fair value of stock and work in progress insofar as work in progress is expected to be fully realised.

REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable in respect of contract work carried out on the construction of residential property, excluding discounts, rebates, value added tax and other sales taxes.
The following criteria must also be met before revenue is recognised.

Sale of goods
Turnover from the sale of goods is recognised when all of the following conditions have been satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of turnover can be reliably measured;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:
Plant and equipment - 15%
Motor vehicles - 25%
Computer equipment - 25%

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

STOCKS
Stocks and work in progress are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

Cost is based on the cost of the purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. Costs include all direct costs in bringing the work in progress to its present condition and include and appropriate proportion of land and infrastructure costs allocated to each plot. Any losses on developments are recognised in the year in which they are identified.

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

TAXATION
Taxation for the year 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 year 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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 9 ) .

JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 335,885 101,940 1,372 439,197
Additions 1,565 67,626 - 69,191
Disposals - (31,311 ) - (31,311 )
At 31 March 2024 337,450 138,255 1,372 477,077
DEPRECIATION
At 1 April 2023 133,680 63,127 541 197,348
Charge for year 50,617 17,694 343 68,654
Eliminated on disposal - (18,265 ) - (18,265 )
At 31 March 2024 184,297 62,556 884 247,737
NET BOOK VALUE
At 31 March 2024 153,153 75,699 488 229,340
At 31 March 2023 202,205 38,813 831 241,849

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 740 311,035
Other debtors 153,206 180,139
153,946 491,174

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 47,110 55,568
Trade creditors 702,729 644,859
Taxation and social security 265,231 301,389
Other creditors 5,887,254 7,642,185
6,902,324 8,644,001

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 66,441 61,141
Other creditors 1,000,000 -
1,066,441 61,141

JCO DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09988276)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 113,551 116,709
Other creditors 1,500,000 2,000,000
1,613,551 2,116,709

Amounts due on hire purchase arrangements are secured against the respective asset.

Other creditors amounting to £NIL (2023 - £1.5m) are secured against specified land held by the company.

Loans amounting to £1,500,000 (2023 - £500,000) are secured against assets owned by both the company and the directors, R J and S A Wilcox.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 57,335 60,462

Deferred
tax
£   
Balance at 1 April 2023 60,462
Credit to Income Statement during year (3,127 )
Balance at 31 March 2024 57,335