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REGISTERED NUMBER: SC385014 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2023

FOR

JBS FABRICATION LTD.

JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JBS FABRICATION LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2023







DIRECTORS: M McCafferty
A Whyte





REGISTERED OFFICE: South View
Dales Industrial Estate
Peterhead
Aberdeenshire
AB42 3GZ





REGISTERED NUMBER: SC385014 (Scotland)





ACCOUNTANTS: Goldwells Ltd
Goldwells House
Grange Road
Peterhead
Aberdeenshire
AB42 1WN

JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)

STATEMENT OF FINANCIAL POSITION
30TH APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 118,196 142,142
Tangible assets 5 1,521,893 1,516,791
1,640,089 1,658,933

CURRENT ASSETS
Stocks 1,633,611 980,780
Debtors 6 2,761,547 1,662,469
Cash at bank and in hand 773,723 931,542
5,168,881 3,574,791
CREDITORS
Amounts falling due within one year 7 2,831,543 1,267,050
NET CURRENT ASSETS 2,337,338 2,307,741
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,977,427

3,966,674

CREDITORS
Amounts falling due after more than one year 8 1,774,350 2,216,199
NET ASSETS 2,203,077 1,750,475

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 11 2,202,976 1,750,374
SHAREHOLDERS' FUNDS 2,203,077 1,750,475

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2023 in accordance with Section 476 of the Companies Act 2006.

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.

JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)

STATEMENT OF FINANCIAL POSITION - continued
30TH APRIL 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th October 2023 and were signed on its behalf by:





M McCafferty - Director


JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2023

1. STATUTORY INFORMATION

JBS Fabrication Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2022 - 44 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st May 2022
and 30th April 2023 233,597 5,866 239,463
AMORTISATION
At 1st May 2022 93,203 4,118 97,321
Charge for year 23,360 586 23,946
At 30th April 2023 116,563 4,704 121,267
NET BOOK VALUE
At 30th April 2023 117,034 1,162 118,196
At 30th April 2022 140,394 1,748 142,142

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2022 1,366,463 423,607 1,790,070
Additions - 67,250 67,250
At 30th April 2023 1,366,463 490,857 1,857,320
DEPRECIATION
At 1st May 2022 7,110 266,169 273,279
Charge for year 21,329 40,819 62,148
At 30th April 2023 28,439 306,988 335,427
NET BOOK VALUE
At 30th April 2023 1,338,024 183,869 1,521,893
At 30th April 2022 1,359,353 157,438 1,516,791

JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,239,575 1,089,839
Other debtors 287,328 335,576
Deferred tax asset 13,955 16,365
Amounts owed by associated companies 220,689 220,689
2,761,547 1,662,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 426,363 -
Trade creditors 1,758,935 624,964
Corporation tax 132,034 25,316
Social security and other taxes 74,724 132,597
VAT 76,348 35,569
Other creditors 100,382 176,300
Amounts owed - Group companies 262,757 272,304
2,831,543 1,267,050

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loan 715,508 988,228
Other loans 147,876 241,821
Term Loan 910,966 986,150
1,774,350 2,216,199

Amounts falling due in more than five years:

Repayable by instalments
Other loans 147,876 241,821
Term Loan 910,966 986,150
1,058,842 1,227,971

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 426,363 -

Barclays Bank Plc holds a Bond and Floating charge over the assets of the Company in respect of committed debt facilities.

JBS FABRICATION LTD. (REGISTERED NUMBER: SC385014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2023

10. DEFERRED TAX
£   
Balance at 1st May 2022 (16,365 )
Provided during year 2,410
Balance at 30th April 2023 (13,955 )

11. RESERVES
Retained
earnings
£   

At 1st May 2022 1,750,374
Profit for the year 452,602
At 30th April 2023 2,202,976

12. RELATED PARTY DISCLOSURES

There is an intercompany loan from JBS Group (Scotland ) Ltd. The balance at the end of the year was £262,757 (2022 £272,054).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is JBS Group (Scotland) Ltd SC547646.