JBL Lifestyle Construction Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 12607357

JBL Lifestyle Construction Limited

Filleted Unaudited Financial Statements

31 December 2024

JBL Lifestyle Construction Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

JBL Lifestyle Construction Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		13,651	14,546

Current assets

Stocks		–	315,341
Debtors	6	3,100	961,455
Cash at bank and in hand		119,617	351,474
		---------	------------
		122,717	1,628,270

Creditors: amounts falling due within one year	7	1,583,319		2,012,850
		------------		------------
Net current liabilities			1,460,602	384,580
			------------	---------
Total assets less current liabilities			( 1,446,951)	( 370,034)
			------------	---------
Net liabilities			( 1,446,951)	( 370,034)
			------------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 1,447,051)	( 370,134)
	------------	---------
Shareholders deficit	( 1,446,951)	( 370,034)
	------------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JBL Lifestyle Construction Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 30 December 2025 , and are signed on behalf of the board by:

Mrs M A Pownceby
Director

Company registration number: 12607357

JBL Lifestyle Construction Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks consists of work in progress and is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employee numbers

The average number of persons employed by the company during the year, including the director, amounted to 1 (2023: 1).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	–	19,000	394	19,394
Additions	2,106	–	915	3,021
	-------	--------	-------	--------
At 31 December 2024	2,106	19,000	1,309	22,415
	-------	--------	-------	--------
Depreciation
At 1 January 2024	–	4,750	98	4,848
Charge for the year	178	3,563	175	3,916
	-------	--------	-------	--------
At 31 December 2024	178	8,313	273	8,764
	-------	--------	-------	--------
Carrying amount
At 31 December 2024	1,928	10,687	1,036	13,651
	-------	--------	-------	--------
At 31 December 2023	–	14,250	296	14,546
	-------	--------	-------	--------

6. Debtors

	2024	2023
	£	£
Other debtors	3,100	961,455
	-------	---------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	60,507	174,214
Corporation tax	5,183	18,805
Social security and other taxes	2,316	–
Other creditors	1,515,313	1,819,831
	------------	------------
	1,583,319	2,012,850
	------------	------------

8. Related party transactions

At the year end the company was owed £750,423 (2023: £324,559) by a company under common control. At the year end there is a provision against this balance of £750,423 (2023: £nil). At the year end the company was owed £283,157 (2023: £nil) by a company under common control. At the year end there is a provision against this balance of £283,157 (2023: £nil). At the year end the company owed the director £1,287,354 (2023: £974,276). At the year end the company owed a close family member of a director £102,450 (2023: £nil).