6 7 JC Building Contractors ( SW) Ltd 8631853 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is Construction of domestic buildings Digita Accounts Production Advanced 6.30.9574.0 true 8631853 2023-08-01 2024-07-31 8631853 2024-07-31 8631853 bus:Director1 1 2024-07-31 8631853 bus:OrdinaryShareClass1 2024-07-31 8631853 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 8631853 core:CurrentFinancialInstruments 2024-07-31 8631853 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 8631853 core:FurnitureFittingsToolsEquipment 2024-07-31 8631853 core:MotorVehicles 2024-07-31 8631853 core:OtherPropertyPlantEquipment 2024-07-31 8631853 bus:SmallEntities 2023-08-01 2024-07-31 8631853 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 8631853 bus:FilletedAccounts 2023-08-01 2024-07-31 8631853 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 8631853 bus:RegisteredOffice 2023-08-01 2024-07-31 8631853 bus:Director1 2023-08-01 2024-07-31 8631853 bus:Director1 1 2023-08-01 2024-07-31 8631853 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 8631853 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 8631853 bus:Agent1 2023-08-01 2024-07-31 8631853 core:FurnitureFittings 2023-08-01 2024-07-31 8631853 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 8631853 core:MotorVehicles 2023-08-01 2024-07-31 8631853 core:OfficeEquipment 2023-08-01 2024-07-31 8631853 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 8631853 core:PlantMachinery 2023-08-01 2024-07-31 8631853 countries:UnitedKingdom 2023-08-01 2024-07-31 8631853 2023-07-31 8631853 bus:Director1 1 2023-07-31 8631853 core:FurnitureFittingsToolsEquipment 2023-07-31 8631853 core:MotorVehicles 2023-07-31 8631853 core:OtherPropertyPlantEquipment 2023-07-31 8631853 2022-08-01 2023-07-31 8631853 2023-07-31 8631853 bus:Director1 1 2023-07-31 8631853 bus:OrdinaryShareClass1 2023-07-31 8631853 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-07-31 8631853 core:CurrentFinancialInstruments 2023-07-31 8631853 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 8631853 core:FurnitureFittingsToolsEquipment 2023-07-31 8631853 core:MotorVehicles 2023-07-31 8631853 core:OtherPropertyPlantEquipment 2023-07-31 8631853 bus:Director1 1 2022-08-01 2023-07-31 8631853 bus:Director1 1 2022-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 8631853

JC Building Contractors ( SW) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

JC Building Contractors ( SW) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

JC Building Contractors ( SW) Ltd

Company Information

Director

Mr J Cudd

Registered office

4 Gollands
Brixham
Devon
TQ5 8JX

Accountants

Neil Wilson Accountancy Limited Bank Chambers
260-262 Union Street
Torquay
Devon
TQ2 5QU

 

JC Building Contractors ( SW) Ltd

(Registration number: 8631853)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

27,071

33,538

Current assets

 

Stocks

5

-

9,140

Debtors

6

102,188

79,023

Cash at bank and in hand

 

1,750

58,601

 

103,938

146,764

Creditors: Amounts falling due within one year

7

(107,066)

(124,528)

Net current (liabilities)/assets

 

(3,128)

22,236

Total assets less current liabilities

 

23,943

55,774

Provisions for liabilities

(8,128)

(8,128)

Net assets

 

15,815

47,646

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

15,805

47,636

Shareholders' funds

 

15,815

47,646

For the financial year ending 31 July 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 and 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 16 April 2025
 

.........................................
Mr J Cudd
Director

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
4 Gollands
Brixham
Devon
TQ5 8JX

These financial statements were authorised for issue by the director on 16 April 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.

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.

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.

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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

25% reducing balance

Motor vehicles

25% reducing balance

Fixtures and fittings

25% reducing balance

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.

Trade 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 inventories 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.

Trade creditors

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

Borrowings

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2023 - 7).

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

19,526

44,907

27,757

92,190

Additions

2,556

-

-

2,556

At 31 July 2024

22,082

44,907

27,757

94,746

Depreciation

At 1 August 2023

12,353

24,218

22,081

58,652

Charge for the year

2,432

5,172

1,419

9,023

At 31 July 2024

14,785

29,390

23,500

67,675

Carrying amount

At 31 July 2024

7,297

15,517

4,257

27,071

At 31 July 2023

7,173

20,689

5,676

33,538

5

Stocks

2024
£

2023
£

Work in progress

-

9,140

6

Debtors

Current

2024
£

2023
£

Trade debtors

47,834

32,151

Other debtors

54,354

46,872

 

102,188

79,023

7

Creditors

Creditors: amounts falling due within one year

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

24,221

37,634

Trade creditors

 

12,712

23,722

Taxation and social security

 

54,199

51,321

Accruals and deferred income

 

6,745

7,938

Other creditors

 

9,189

3,913

 

107,066

124,528

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

10

10

10

10

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

260

-

Hire purchase contracts

5,164

8,771

Other borrowings

18,797

28,863

24,221

37,634

10

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £4,000.00) per ordinary share

72,000

40,000

 

 

11

Related party transactions

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 31 July 2024
£

Mr J Cudd

Mr J Cudd

32,372

79,482

(72,000)

39,854

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

Mr J Cudd

Mr J Cudd

1,331

31,041

32,372

 

JC Building Contractors ( SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

12,570

Dividends paid to the director

2024
£

2023
£

Mr J Cudd

Interim

72,000

40,000