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REGISTERED NUMBER: 03851052 (England and Wales)












James Law Construction Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024






James Law Construction Limited (Registered number: 03851052)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


James Law Construction Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: J R Law Esq





REGISTERED OFFICE: Unit 2 Dunheved Court
Pennygillam Way
Pennygillam Industrial Estate
Launceston
Cornwall
PL15 7ED





REGISTERED NUMBER: 03851052 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

James Law Construction Limited (Registered number: 03851052)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 576,227 596,813

CURRENT ASSETS
Stocks 1,790,326 1,624,081
Debtors 5 128,883 529,264
Cash at bank 427,993 152,388
2,347,202 2,305,733
CREDITORS
Amounts falling due within one year 6 57,288 136,223
NET CURRENT ASSETS 2,289,914 2,169,510
TOTAL ASSETS LESS CURRENT LIABILITIES 2,866,141 2,766,323

PROVISIONS FOR LIABILITIES 18,800 23,946
NET ASSETS 2,847,341 2,742,377

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,846,341 2,741,377
SHAREHOLDERS' FUNDS 2,847,341 2,742,377

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

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

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 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 director and authorised for issue on 30 June 2025 and were signed by:





J R Law Esq - Director


James Law Construction Limited (Registered number: 03851052)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

James Law Construction 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The Company generates revenue from Long term contracts. This often requires judgement to be applied and where actual results differ to the estimates made, this could result in a significant impact on the Company's financial results. The specific judgements are dependant on individual contracts and so may differ on a contract by contract basis. Examples would include judgement being required in estimating the stage of completion of the contract at the balance sheet date.

Turnover and 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 show net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probably that future economic benefits will flow to the entity;
And specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
The cost of work in progress comprises direct materials and, where applicable, direct labour costs and those overheads hat 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 the 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Presentation currency and rounding
The financial statements are prepared in sterling and are rounded to the nearest pound.

James Law Construction Limited (Registered number: 03851052)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 501,027 233,473 99,488 2,827 836,815
Additions - 4,250 - - 4,250
At 31 December 2024 501,027 237,723 99,488 2,827 841,065
DEPRECIATION
At 1 January 2024 - 201,641 36,050 2,311 240,002
Charge for year - 8,847 15,860 129 24,836
At 31 December 2024 - 210,488 51,910 2,440 264,838
NET BOOK VALUE
At 31 December 2024 501,027 27,235 47,578 387 576,227
At 31 December 2023 501,027 31,832 63,438 516 596,813

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 21,280 154,244
Other debtors 107,603 375,020
128,883 529,264

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 28,476
Trade creditors 3,253 15,524
Taxation and social security 44,050 86,891
Other creditors 9,985 5,332
57,288 136,223

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 28,476

The bank loans are secured on the fixed and current assets owned by the company.

James Law Construction Limited (Registered number: 03851052)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
J R Law Esq
Balance outstanding at start of year 14 (6,716 )
Amounts advanced - 21,768
Amounts repaid - (15,038 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 14

The overdrawn Directors' Loan is repaid by way of a dividend declared in March 2024.

9. RELATED PARTY DISCLOSURES

The controlling party is J R Law Esq.