Jaslin Construction Limited - Period Ending 2018-04-30
Jaslin Construction Limited - Period Ending 2018-04-30
Registration number:
Jaslin Construction Limited
for the Year Ended 30 April 2018
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX
Jaslin Construction Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Jaslin Construction Limited
Company Information
Director |
Mr J G Donnelly |
Registered office |
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Accountants |
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Page 1 |
Jaslin Construction Limited
(Registration number: SC397026)
Balance Sheet as at 30 April 2018
Note |
2018 |
2017 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the Sections 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of the 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. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 2 |
Jaslin Construction Limited
(Registration number: SC397026)
Balance Sheet as at 30 April 2018
Approved and authorised by the
.........................................
Director
Page 3 |
Jaslin Construction Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentation currency of the financial statements is the Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration derived from that of consultancy services to the power industry. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
Page 4 |
Jaslin Construction Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Tax
The tax expense for the period comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
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 taxable income.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the director) during the year was 1 (2017 - 1).
Page 5 |
Jaslin Construction Limited
Notes to the Financial Statements for the Year Ended 30 April 2018
Stocks |
2018 |
2017 |
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Work in progress |
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- |
Debtors |
2018 |
2017 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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- |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
During the year, the director advanced loans totalling £5,213 to the company. At the year end, the balance due to the director was £4,534 (2017: -£679). This loan is unsecured, interest free and has no fixed repayment terms.
Page 6 |