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REGISTERED NUMBER:
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J & J PROJECTS (SOUTH WALES) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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REGISTERED NUMBER:
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J & J PROJECTS (SOUTH WALES) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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J & J PROJECTS (SOUTH WALES) LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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BALANCE SHEET |
27 FEBRUARY 2018 |
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Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their 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. |
J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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BALANCE SHEET - continued |
27 FEBRUARY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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1. | STATUTORY INFORMATION |
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J & J Projects (South Wales) Limited is a
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The company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The financial statements have been prepared on a going concern basis which assumes that the company will |
continue in operational existence for the foreseeable future. The validity of the assumption depends upon the |
continuing support of its Directors and other creditors with whom it has loans due totalling £156,196. The |
Directors believe that it is appropriate for the financial statements to be prepared on a going concern basis. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Computer equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue |
is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. |
The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses |
by reference to value of the work performed. |
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J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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 period end and that are expected to apply to the |
reversal of the timing difference. |
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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. |
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Debtors and creditors receivable / payable within one year |
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 |
administration expenses. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is |
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
impairment loss is a revaluation decrease. |
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Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be |
reliable estimated. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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4. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
Additions |
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At 27 February 2018 |
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DEPRECIATION |
Charge for period |
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At 27 February 2018 |
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NET BOOK VALUE |
At 27 February 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Prepayments |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Directors' current accounts | 17,078 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
£ |
Other loans |
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J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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£ |
Other loans |
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The other loan has been secured by way of a fixed charge against the property at 171 Pearl street, Cardiff. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £1 | 100 |
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10. | RESERVES |
Retained |
earnings |
£ |
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Deficit for the period | ( |
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At 27 February 2018 | ( |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the period ended 27 February 2018: |
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£ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
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J & J PROJECTS (SOUTH WALES) LIMITED (REGISTERED NUMBER: 10615353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 13 FEBRUARY 2017 TO 27 FEBRUARY 2018 |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - |
Amounts waived | - |
Balance outstanding at end of period |
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12. | RELATED PARTY DISCLOSURES |
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Included in other loans is an interest free loan, due to P S Bakshi of £139,118. P S Bakshi is the husband of the |
Director J Young. |
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13. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties are the Directors who own all of the issued share capital of the Company. |