ACCOUNTS - Final Accounts


Caseware UK (AP4) 2018.0.111 2018.0.1112019-05-312019-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueBuildersfalse2018-06-01010658722018-06-012019-05-31010658722017-06-012018-05-31010658722019-05-31010658722018-05-3101065872 c:Director2 2018-06-012019-05-3101065872 d:Buildings 2018-06-012019-05-3101065872 d:Buildings 2019-05-3101065872 d:Buildings 2018-05-3101065872 d:Buildings d:OwnedOrFreeholdAssets 2018-06-012019-05-3101065872 d:PlantMachinery 2018-06-012019-05-3101065872 d:MotorVehicles 2018-06-012019-05-3101065872 d:FurnitureFittings 2018-06-012019-05-3101065872 d:OtherPropertyPlantEquipment 2019-05-3101065872 d:OtherPropertyPlantEquipment 2018-05-3101065872 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2018-06-012019-05-3101065872 d:OwnedOrFreeholdAssets 2018-06-012019-05-3101065872 d:CurrentFinancialInstruments 2019-05-3101065872 d:CurrentFinancialInstruments 2018-05-3101065872 d:CurrentFinancialInstruments d:WithinOneYear 2019-05-3101065872 d:CurrentFinancialInstruments d:WithinOneYear 2018-05-3101065872 d:ShareCapital 2019-05-3101065872 d:ShareCapital 2018-05-3101065872 d:RetainedEarningsAccumulatedLosses 2019-05-3101065872 d:RetainedEarningsAccumulatedLosses 2018-05-3101065872 c:FRS102 2018-06-012019-05-3101065872 c:AuditExempt-NoAccountantsReport 2018-06-012019-05-3101065872 c:FullAccounts 2018-06-012019-05-3101065872 c:PrivateLimitedCompanyLtd 2018-06-012019-05-3101065872 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-06-012019-05-3101065872 2 2018-06-012019-05-31iso4217:GBPxbrli:pure
                                                                                                                 Registered number:01065872














J K BROCK BUILDERS (DEREHAM) LIMITED


UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

 
J K BROCK BUILDERS (DEREHAM) LIMITED
REGISTERED NUMBER: 01065872

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2019

2019
2018
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,709
21,208

  
17,709
21,208

Current assets
  

Stocks
  
23,854
42,762

Debtors: amounts falling due within one year
 5 
45,094
24,351

Cash at bank and in hand
  
91,309
103,161

  
160,257
170,274

Creditors: amounts falling due within one year
 6 
(73,240)
(66,144)

Net current assets
  
 
 
87,017
 
 
104,130

Total assets less current liabilities
  
104,726
125,338

Provisions for liabilities
  

Deferred tax
  
(1,633)
(2,150)

  
 
 
(1,633)
 
 
(2,150)

Net assets
  
103,093
123,188


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
102,093
122,188

  
103,093
123,188


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with
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J K BROCK BUILDERS (DEREHAM) LIMITED
REGISTERED NUMBER: 01065872
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2019

provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





................................................
Mr J M Brock
Director

Date: 21 December 2019

The notes on pages 3 to 7 form part of these financial statements.

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J K BROCK BUILDERS (DEREHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

1.


General information

J K Brock Builders (Dereham) Limited is a private company limited by shares and incorporated in England and Wales, registration number 01065872. The registered office address is 1 Tavern Lane, Dereham, Norfolk, NR19 1PX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover 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 turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
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.

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J K BROCK BUILDERS (DEREHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

2.Accounting policies (continued)

 
2.3

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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J K BROCK BUILDERS (DEREHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.

Depreciation is provided on the following basis:

Freehold buildings
-
2% straight line
Plant and machinery
-
15% & 25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
15% 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 the Statement of income and retained earnings.

 
2.7

Stocks

Stocks are 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 outbasis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

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J K BROCK BUILDERS (DEREHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

2.Accounting policies (continued)

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2018 - 11).


4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 June 2018
10,658
71,888
82,546



At 31 May 2019

10,658
71,888
82,546



Depreciation


At 1 June 2018
4,048
57,290
61,338


Charge for the year on owned assets
213
3,286
3,499



At 31 May 2019

4,261
60,576
64,837



Net book value



At 31 May 2019
6,397
11,312
17,709



At 31 May 2018
6,610
14,598
21,208

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J K BROCK BUILDERS (DEREHAM) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

5.


Debtors

2019
2018
£
£


Trade debtors
28,083
19,255

Other debtors
-
82

Prepayments and accrued income
17,011
5,014

45,094
24,351



6.


Creditors: Amounts falling due within one year

2019
2018
£
£

Trade creditors
15,507
21,817

Corporation tax
3,460
11,050

Other taxation and social security
13,004
9,171

Other creditors
33,404
6,667

Accruals and deferred income
7,865
17,439

73,240
66,144



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,453 (2018 - £2,660). Contributions totalling £25 (2018 - £10) were payable to the fund at the reporting date and are included in creditors.


8.


Related party transactions

At the year end a director and the company secretary were owed in total £33,334 (2018 - £6,667) which was repayable on demand.

 
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