Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-06-011falseMetal tradertrue1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13424114 2022-06-01 2023-05-31 13424114 2021-05-27 2022-05-31 13424114 2023-05-31 13424114 2022-05-31 13424114 c:Director1 2022-06-01 2023-05-31 13424114 d:MotorVehicles 2022-06-01 2023-05-31 13424114 d:MotorVehicles 2023-05-31 13424114 d:MotorVehicles 2022-05-31 13424114 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-06-01 2023-05-31 13424114 d:CurrentFinancialInstruments 2023-05-31 13424114 d:CurrentFinancialInstruments 2022-05-31 13424114 d:Non-currentFinancialInstruments 2023-05-31 13424114 d:Non-currentFinancialInstruments 2022-05-31 13424114 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13424114 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 13424114 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 13424114 d:Non-currentFinancialInstruments d:AfterOneYear 2022-05-31 13424114 d:ShareCapital 2023-05-31 13424114 d:ShareCapital 2022-05-31 13424114 d:RetainedEarningsAccumulatedLosses 2023-05-31 13424114 d:RetainedEarningsAccumulatedLosses 2022-05-31 13424114 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 13424114 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 13424114 c:OrdinaryShareClass1 2022-06-01 2023-05-31 13424114 c:OrdinaryShareClass1 2023-05-31 13424114 c:OrdinaryShareClass1 2022-05-31 13424114 c:OrdinaryShareClass2 2022-06-01 2023-05-31 13424114 c:OrdinaryShareClass2 2023-05-31 13424114 c:OrdinaryShareClass2 2022-05-31 13424114 c:FRS102 2022-06-01 2023-05-31 13424114 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 13424114 c:FullAccounts 2022-06-01 2023-05-31 13424114 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 13424114 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 13424114 d:HirePurchaseContracts d:WithinOneYear 2022-05-31 13424114 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 13424114 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-05-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 13424114














J&L METAL TRADING LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
J&L METAL TRADING LIMITED
 

CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 
J&L METAL TRADING LIMITED
REGISTERED NUMBER: 13424114

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
50,442
-

Current assets
  

Debtors: amounts falling due within one year
 5 
-
16,345

Bank and cash balances
  
62,219
29,664

  
62,219
46,009

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(22,528)
(26,639)

Net current assets
  
 
 
39,691
 
 
19,370

Total assets less current liabilities
  
90,133
19,370

Creditors: amounts falling due after more than one year
  
(43,550)
-

Provisions for liabilities
  

Deferred tax
  
(12,610)
-

Net assets
  
33,973
19,370


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
33,773
19,170

  
33,973
19,370


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

Page 1

 
J&L METAL TRADING LIMITED
REGISTERED NUMBER: 13424114
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 November 2023.


J Symons
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
J&L METAL TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

J&L Metal Trading Limited is a private limited liability company incorporated in England & Wales, with its  registered office address at 32 Glenwood Road, London, NW7 4LJ.
The principal activity of the Company continued to be that of a sales commission agency.
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises sales commissions received, exclusive of Value Added Tax. 
Revenue is recognised in the period in which its earned.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 3

 
J&L METAL TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at the transaction price.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

 
2.8

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 debtors and creditors, and loans to related parties .

 
2.9

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including the director, during the year was 1 (2022 - 1).

Page 4

 
J&L METAL TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost 


Additions
52,635



At 31 May 2023

52,635



Depreciation


Charge for the year on financed assets
2,193



At 31 May 2023

2,193



Net book value



At 31 May 2023
50,442



At 31 May 2022
-


5.


Debtors

2023
2022
£
£


Prepayments and accrued income
-
16,345



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Taxation and social security
17,623
25,856

Obligations under finance lease and hire purchase contracts
3,086
-

Other creditors
1,069
783

Accruals and deferred income
750
-

22,528
26,639


Page 5

 
J&L METAL TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
43,550
-



8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
4,021
-

Between 1-5 years
39,529
-

43,550
-


9.


Deferred taxation




2023


£






Charged to profit or loss
12,610



At end of year
12,610

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
12,610
-

Page 6

 
J&L METAL TRADING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary A shares of £1.00 each
100
100
100 (2022 - 100) Ordinary B shares of £1.00 each
100
100

200

200


 
Page 7