REGISTERED NUMBER: 03311688 (England and Wales)

Jakes Contracting Limited

Unaudited financial statements

for the year ended 28 February 2025

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

J Finch

Secretary:

Mrs J Finch

Registered office:

1st Floor Construction House

Runwell Road

Wickford

Essex

SS11 7HQ

Registered number:

03311688 (England and Wales)

Accountants:

Clay Ratnage Strevens & Hills

Chartered Accountants

Construction House, Runwell Road

Wickford

Essex

SS11 7HQ

Fixed assets

Tangible assets

4

25,285

33,720

Current assets

Stocks

5

40,495

36,195

Debtors

6

263,067

211,858

Cash at bank

32,870

84,596

336,432

332,649

Creditors

Amounts falling due within one year

7

218,734

198,983

Net current assets

117,698

133,666

Total assets less current liabilities

142,983

167,386

Creditors

Amounts falling due after more than one year

8

(31,342

)

(38,480

)

Provisions for liabilities

11

(6,321

)

(8,430

)

Net assets

105,320

120,476

Capital and reserves

Called up share capital

125

125

Share premium

19,950

19,950

Capital redemption reserve

75

75

Retained earnings

85,170

100,326

105,320

120,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 November 2025 and were signed by:

J Finch - Director

1.	Statutory information

Jakes Contracting 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

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

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, excluding discounts, rebates, value added tax and other sales taxes.

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

Computer equipment

-

25% 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.

Stocks

Stock is 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 purchase on a first in, first out basis.

At each balance sheet date, stock is assessed for impairment. If stock is 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.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Pension costs

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.

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 7 ) .

4.	Tangible fixed assets

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

Cost

At 1 March 2024

7,033

96,789

14,819

118,641

Additions

-

14,650

-

14,650

Disposals

-

(14,650

)

-

(14,650

)

At 28 February 2025

7,033

96,789

14,819

118,641

Depreciation

At 1 March 2024

6,954

63,933

14,034

84,921

Charge for year

21

11,274

200

11,495

Eliminated on disposal

-

(3,060

)

-

(3,060

)

At 28 February 2025

6,975

72,147

14,234

93,356

Net book value

At 28 February 2025

58

24,642

585

25,285

At 29 February 2024

79

32,856

785

33,720

5.

Stocks

2025

2024

£

£

Raw materials

40,495

36,195

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

181,134

162,962

Amounts owed by group undertakings

33,645

38,395

Accrued income

47,029

9,740

Prepayments

1,259

761

263,067

211,858

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts (see note 9)

20,104

7,356

Hire purchase contracts (see note 10)

-

2,566

Trade creditors

64,922

17,778

Tax

3,218

16,696

Social security and other taxes

9,392

12,393

VAT

8,998

23,701

Pension Control

1,055

1,233

4Syte Financing

106,155

107,679

Directors' current accounts

270

5,181

Accruals

4,620

4,400

218,734

198,983

8.

Creditors: amounts falling due after more than one year

2025

2024

£

£

Bank loans (see note 9)

31,342

38,480

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

7,149

9.

Loans

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

12,847

-

Bank loans

7,257

7,356

20,104

7,356

Amounts falling due between one and two years:

Bank loans - 1-2 years

7,257

7,542

2025

2024

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

24,085

23,789

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

7,149

10.	Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

-

2,566

11.	Provisions for liabilities

2025

2024

£

£

Deferred tax

6,321

8,430

Deferred

tax

£

Balance at 1 March 2024

8,430

Utilised during year

(2,109

)

Balance at 28 February 2025

6,321

12.	Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £3,613 (2024 - £4,617). Contributions totalling £1,055 (2024 - £1,233) were payable to the fund at the balance sheet date and are included in creditors.

13.	Related party transactions

At the balance sheet date, the company was owed £27,270 (2024 - £35,270) from Kilcar Holdings Limited and £6,375 (2024 - £3,125) from Rio Coffee Limited. Both companies share common directors with Jakes Contracting Limited. No interest was charged on these amounts.