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REGISTERED NUMBER: 03408523 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 November 2022

for

JSB (Metals) Limited

JSB (Metals) Limited (Registered number: 03408523)






Contents of the Financial Statements
for the Year Ended 30 November 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JSB (Metals) Limited

Company Information
for the Year Ended 30 November 2022







DIRECTOR: Mr J S Boyd



REGISTERED OFFICE: Factory Road
Blaydon on Tyne
Tyne and Wear
NE21 5RZ



REGISTERED NUMBER: 03408523 (England and Wales)



ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN



BANKERS: Barclays Bank Plc
Low Fell Branch
Gateshead
Tyne and Wear
NE8 1BX

JSB (Metals) Limited (Registered number: 03408523)

Balance Sheet
30 November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 376,223 418,307
376,223 418,307

CURRENT ASSETS
Stocks 125,000 100,000
Debtors 6 416,273 457,652
Cash at bank 1,141,049 1,329,984
1,682,322 1,887,636
CREDITORS
Amounts falling due within one year 7 96,056 142,902
NET CURRENT ASSETS 1,586,266 1,744,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,962,489

2,163,041

PROVISIONS FOR LIABILITIES 35,799 35,799
NET ASSETS 1,926,690 2,127,242

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Profit and loss account 1,916,690 2,117,242
SHAREHOLDERS' FUNDS 1,926,690 2,127,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 November 2023 and were signed by:





Mr J S Boyd - Director


JSB (Metals) Limited (Registered number: 03408523)

Notes to the Financial Statements
for the Year Ended 30 November 2022

1. STATUTORY INFORMATION

JSB (Metals) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 and represents amounts receivable from the sale of scrap metal, stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Leasing
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the term of the lease.

JSB (Metals) Limited (Registered number: 03408523)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2021
and 30 November 2022 136,820 954,730 1,091,550
DEPRECIATION
At 1 December 2021 36,845 636,398 673,243
Charge for year 2,737 39,347 42,084
At 30 November 2022 39,582 675,745 715,327
NET BOOK VALUE
At 30 November 2022 97,238 278,985 376,223
At 30 November 2021 99,975 318,332 418,307

Included in cost of land and buildings is freehold land of £ 55,689 (2021 - £ 55,689 ) which is not depreciated.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 98,399 112,282
Other debtors 317,874 345,370
416,273 457,652

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 89,770 113,772
Taxation and social security 3,666 26,510
Other creditors 2,620 2,620
96,056 142,902

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 15,000 15,000
Between one and five years 60,000 60,000
In more than five years 1,250 16,250
76,250 91,250

JSB (Metals) Limited (Registered number: 03408523)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2022

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021:

2022 2021
£    £   
Mr J S Boyd
Balance outstanding at start of year 60,405 52,191
Amounts advanced - 12,837
Amounts repaid (10,341 ) (4,623 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,064 60,405

The above loan is interest free is repayable on demand and unsecured.