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Registration number: 10267095

Jupiter Construction Ltd

Annual Filleted Report and Unaudited Financial Statements

for the Year Ended 31 August 2018

Smith Butler
Chartered Certified Accountants
10 Mercury Quays
Ashley Lane
Shipley
Bradford
West Yorkshire
BD17 7DB

 

Jupiter Construction Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

Jupiter Construction Ltd

Company Information

Director

Mr Mathew Wass

Registered office

10 Mercury Quays
Ashley Lane
Shipley
West Yorkshire
BD17 7DB

Accountants

Smith Butler
Chartered Certified Accountants
10 Mercury Quays
Ashley Lane
Shipley
Bradford
West Yorkshire
BD17 7DB

 

Jupiter Construction Ltd

(Registration number: 10267095)
Balance Sheet as at 31 August 2018

Note

2018
£

2017
£

Fixed assets

 

Tangible assets

4

1,095

662

Current assets

 

Debtors

5

591,102

425,247

Cash at bank and in hand

 

90,995

3,423

 

682,097

428,670

Creditors: Amounts falling due within one year

6

(601,438)

(398,031)

Net current assets

 

80,659

30,639

Net assets

 

81,754

31,301

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

81,654

31,201

Total equity

 

81,754

31,301

For the financial year ending 31 August 2018 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 accounts for the year in question in accordance with section 476; and

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

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.

Approved and authorised by the director on 26 January 2019
 

.........................................

Mr Mathew Wass
Director

 

Jupiter Construction Ltd

Notes to the Financial Statements for the Year Ended 31 August 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Mercury Quays
Ashley Lane
Shipley
West Yorkshire
BD17 7DB
England

These financial statements were authorised for issue by the director on 26 January 2019.

2

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 Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Jupiter Construction Ltd

Notes to the Financial Statements for the Year Ended 31 August 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Jupiter Construction Ltd

Notes to the Financial Statements for the Year Ended 31 August 2018

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2017 - 1).

 

Jupiter Construction Ltd

Notes to the Financial Statements for the Year Ended 31 August 2018

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2017

792

792

Additions

655

655

At 31 August 2018

1,447

1,447

Depreciation

At 1 September 2017

130

130

Charge for the year

222

222

At 31 August 2018

352

352

Carrying amount

At 31 August 2018

1,095

1,095

At 31 August 2017

662

662

5

Debtors

2018
£

2017
£

Trade debtors

535,709

425,247

Other debtors

55,393

-

591,102

425,247

6

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Due within one year

Trade creditors

407,088

235,318

Taxation and social security

36,484

21,833

Accruals and deferred income

46,242

23,738

Other creditors

111,624

117,142

601,438

398,031

 

Jupiter Construction Ltd

Notes to the Financial Statements for the Year Ended 31 August 2018

7

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary shares of £ 1 each

100

100

100

100

         

8

Dividends

   

2018

 

2017

   

£

 

£

Interim dividend of £ 500.00 (2017 - £ 116.37 ) per ordinary share

 

50,000

 

11,637

9

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2018
£

2017
£

Remuneration

11,646

13,534