REGISTERED NUMBER: 04102442 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CJ CONSTRUCTION (WALES) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R W Jones

A M Holland

REGISTERED OFFICE:

The Builders Yard

Somerset Lane

Taibach

Port Talbot

SA13 1UA

REGISTERED NUMBER:

04102442 (England and Wales)

AUDITORS:

John F. Harvey Ltd

Dynevor House

5-6 De La Beche Street

Swansea

SA1 3HA

FIXED ASSETS

Tangible assets

4

452,929

373,706

Investment property

5

455,051

-

907,980

373,706

CURRENT ASSETS

Stocks

356,960

125,000

Debtors

6

1,533,551

209,768

Investments

7

-

279,654

Cash at bank and in hand

509,680

1,346,983

2,400,191

1,961,405

CREDITORS

Amounts falling due within one year

8

(945,595

)

(438,111

)

NET CURRENT ASSETS

1,454,596

1,523,294

TOTAL ASSETS LESS CURRENT LIABILITIES

2,362,576

1,897,000

CREDITORS

Amounts falling due after more than one year

9

(303,786

)

(16,817

)

PROVISIONS FOR LIABILITIES

(55,038

)

(46,655

)

NET ASSETS

2,003,752

1,833,528

CAPITAL AND RESERVES

Called up share capital

5,300

5,300

Capital redemption reserve

12

1,500

1,500

Other reserves

12

-

51,772

Retained earnings

12

1,996,952

1,774,956

2,003,752

1,833,528

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 22 May 2025 and were signed on its behalf by:

R W Jones - Director

A M Holland - Director

1.	STATUTORY INFORMATION

CJ Construction (Wales) Ltd 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services:

Revenue from a contract to provide services is recognised in the period in which the services are

provided in accordance with the stage of completion of the contract when all of the following

conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract

- the the stage of completion of the contract at the end of the reporting period can be measured

reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided on the following basis:

Land and buildings - 2% on cost

Plant and machinery etc - 20% on reducing balance and 10% on

reducing balance

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 profit or loss.

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to

expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation

on the assets to which the grant relates. The deferred element of grants is included in creditors as

deferred income.

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 & work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress represents the amounts recoverable on each contract in progress at the statement of financial position date qualified by the directors. Costs of work done to date, including materials and sub-contractor costs, are taken into consideration before arriving at a valuation by reference to the stage of completion. The company includes provisions in their valuations for unforeseen costs based on their risk and likelihood of costs being incurred.

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are

initially measured at transaction price unless the arrangement constitutes a financing transaction,

where the transaction is measured at the present value of the future receipts discounted at a market

rate of interest.

Basic financial liabilities, including trade and other creditors, 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.

Investments

Current asset investments are carried at market value. Valuation fluctuations are recognised in profit

or loss and deferred tax has been provided on increase in value and adjusted annually for movement

in the value in the accounting period. Surpluses or deficits arising on valuation are transferred to the

fair value reserve.

Loans and borrowings

Loans are initially recognised at fair value, net of transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest on loans is recognised in the profit and loss account using the effective interest rate. Repayments are applied to reduce the carrying amount of the loan, and the loan is assessed for impairment at each reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2023 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2024

105,593

519,837

625,430

Additions

-

143,921

143,921

At 31 December 2024

105,593

663,758

769,351

DEPRECIATION

At 1 January 2024

2,816

248,908

251,724

Charge for year

2,112

62,586

64,698

At 31 December 2024

4,928

311,494

316,422

NET BOOK VALUE

At 31 December 2024

100,665

352,264

452,929

At 31 December 2023

102,777

270,929

373,706

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

455,051

At 31 December 2024

455,051

NET BOOK VALUE

At 31 December 2024

455,051

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

283,759

44,841

Amounts owed by group undertakings

1,010,589

-

Other debtors

239,203

164,927

1,533,551

209,768

7.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Listed investments

-

279,654

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

51,179

53,176

Trade creditors

524,127

190,833

Taxation and social security

134,532

182,379

Other creditors

235,757

11,723

945,595

438,111

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

5,958

16,817

Other creditors

297,828

-

303,786

16,817

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Other loans

42,030

-

Amounts falling due between one and two years:

Other loans

297,828

-

Other loans are included within the Other creditors category in Notes 9 and 10, along with other amounts.

This is a loan from Funding Circle, this was drawn down on 9 September 2024 and is due for repayment on 9 September 2030. The loan attracts a fixed interest rate of 13% per annum.

11.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

57,137

-

Obligations under hire purchase contracts are secured on the assets to which they relate.

12.

RESERVES

Capital

Retained

redemption

Other

earnings

reserve

reserves

Totals

£

£

£

£

At 1 January 2024

1,774,956

1,500

51,772

1,828,228

Profit for the year

284,624

284,624

Dividends

(114,400

)

(114,400

)

Transfer

51,772

-

(51,772

)

-

At 31 December 2024

1,996,952

1,500

-

1,998,452

Reserve transfers relate to gains/loss on the revaluation of current asset investments net of deferred tax.

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John Husband FCA (Senior Statutory Auditor)

for and on behalf of John F. Harvey Ltd

14.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, the preparation of the financial statements, company secretarial duties and review VAT returns.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is CJC 2022 Limited.

Registered office address:

The Builders Yard

Somerset Lane

Taibach

Port Talbot

SA13 1UA