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Registered number: 09984023
2JT Groundworks Ltd
Financial Statements
For The Year Ended 28 February 2025
G Brown & Co Ltd
Accountants & Taxation Consultants
Lauren House, 37a Wakefield Road
Tandem
Huddersfield
West Yorkshire
HD5 0AN
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09984023
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 326,229 420,372
326,229 420,372
CURRENT ASSETS
Debtors 5 163,504 178,031
Cash at bank and in hand 141,359 33,929
304,863 211,960
Creditors: Amounts Falling Due Within One Year 6 (77,959 ) (96,399 )
NET CURRENT ASSETS (LIABILITIES) 226,904 115,561
TOTAL ASSETS LESS CURRENT LIABILITIES 553,133 535,933
Creditors: Amounts Falling Due After More Than One Year 7 (266,407 ) (276,608 )
NET ASSETS 286,726 259,325
CAPITAL AND RESERVES
Called up share capital 9 3 3
Profit and Loss Account 286,723 259,322
SHAREHOLDERS' FUNDS 286,726 259,325
Page 1
Page 2
For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Tyas
Director
28/11/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
2JT Groundworks Ltd Registered number 09984023 is a limited by shares company incorporated in England & Wales. The Registered Office is Lauren House 37a Wakefield Road, Tandem, Huddersfield, West Yorkshire, HD5 0AN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2024: 6)
6 6
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2024 643,987 126,912 1,942 772,841
Additions 42,219 - - 42,219
Disposals (58,000 ) - - (58,000 )
As at 28 February 2025 628,206 126,912 1,942 757,060
Depreciation
As at 1 March 2024 307,066 44,300 1,103 352,469
Provided during the period 96,899 20,420 37 117,356
Disposals (38,994 ) - - (38,994 )
As at 28 February 2025 364,971 64,720 1,140 430,831
Net Book Value
As at 28 February 2025 263,235 62,192 802 326,229
As at 1 March 2024 336,921 82,612 839 420,372
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 65,291 70,283
Prepayments and accrued income - 12,954
VAT 23,308 12,663
Other taxes and social security 74,776 82,131
Director's loan account 129 -
163,504 178,031
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors (734 ) 82,838
Bank loans and overdrafts - 7,744
Corporation tax 75,487 1,055
Accruals and deferred income 3,206 4,613
Director's loan account - 149
77,959 96,399
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7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Net obligations under finance lease and hire purchase contracts 209,310 254,031
Bank loans 57,097 22,577
266,407 276,608
8. Obligations Under Finance Leases and Hire Purchase
2025 2024
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 209,310 254,031
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 3 3
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2024 Amounts advanced Amounts repaid Amounts written off As at 28 February 2025
£ £ £ £ £
Mr James Tyas (148 ) 59,278 5,900 - 130
The above loan is unsecured, interest free and repayable on demand.
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