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REGISTERED NUMBER: 04513125 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

JC Metalworks Limited

JC Metalworks Limited (Registered number: 04513125)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

JC Metalworks Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: J Chauhan
Mrs S Chauhan
JJ Chauhan
Mrs D Chauhan





SECRETARY: JJ Chauhan





REGISTERED OFFICE: Bishop Meadow Road
Loughborough
Leicestershire
LE11 5RE





REGISTERED NUMBER: 04513125 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

JC Metalworks Limited (Registered number: 04513125)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,950,717 1,795,109
1,950,717 1,795,109

CURRENT ASSETS
Stocks 6 375,722 406,769
Debtors 7 1,434,279 1,067,100
Cash at bank and in hand 53,321 52,054
1,863,322 1,525,923
CREDITORS
Amounts falling due within one year 8 1,947,621 1,692,411
NET CURRENT LIABILITIES (84,299 ) (166,488 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,866,418

1,628,621

CREDITORS
Amounts falling due after more than one year 9 (622,785 ) (582,074 )

PROVISIONS FOR LIABILITIES (290,625 ) (255,920 )
NET ASSETS 953,008 790,627

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 951,008 788,627
SHAREHOLDERS' FUNDS 953,008 790,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

JC Metalworks Limited (Registered number: 04513125)

Balance Sheet - continued
28 February 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 27 November 2023 and were signed on its behalf by:





JJ Chauhan - Director


JC Metalworks Limited (Registered number: 04513125)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

JC Metalworks 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.

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 2002, 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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

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.

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 balance sheet date.


JC Metalworks Limited (Registered number: 04513125)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 92 (2022 - 78 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 30,000
AMORTISATION
At 1 March 2022
and 28 February 2023 30,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

JC Metalworks Limited (Registered number: 04513125)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 March 2022 12,571 584,557 3,481,122
Additions - 18,314 299,181
At 28 February 2023 12,571 602,871 3,780,303
DEPRECIATION
At 1 March 2022 7,857 198,931 2,196,984
Charge for year 629 23,962 184,191
At 28 February 2023 8,486 222,893 2,381,175
NET BOOK VALUE
At 28 February 2023 4,085 379,978 1,399,128
At 28 February 2022 4,714 385,626 1,284,138

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 March 2022 173,677 59,919 4,311,846
Additions 30,464 57,444 405,403
At 28 February 2023 204,141 117,363 4,717,249
DEPRECIATION
At 1 March 2022 75,516 37,449 2,516,737
Charge for year 26,194 14,819 249,795
At 28 February 2023 101,710 52,268 2,766,532
NET BOOK VALUE
At 28 February 2023 102,431 65,095 1,950,717
At 28 February 2022 98,161 22,470 1,795,109

JC Metalworks Limited (Registered number: 04513125)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 March 2022 1,156,803 - 1,156,803
Additions 260,000 57,090 317,090
At 28 February 2023 1,416,803 57,090 1,473,893
DEPRECIATION
At 1 March 2022 465,606 - 465,606
Charge for year 82,405 5,947 88,352
At 28 February 2023 548,011 5,947 553,958
NET BOOK VALUE
At 28 February 2023 868,792 51,143 919,935
At 28 February 2022 691,197 - 691,197

6. STOCKS
28.2.23 28.2.22
£    £   
Stocks 168,543 131,174
Work-in-progress 207,179 275,595
375,722 406,769

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 1,300,867 996,993
Other debtors 133,412 70,107
1,434,279 1,067,100

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 383,203 189,805
Hire purchase contracts 263,673 205,052
Trade creditors 788,440 811,105
Taxation and social security 222,195 165,291
Other creditors 290,110 321,158
1,947,621 1,692,411

JC Metalworks Limited (Registered number: 04513125)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 96,000 128,000
Hire purchase contracts 526,785 454,074
622,785 582,074

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Hire purchase contracts 790,458 659,126

The bank overdraft is secured against a charge over the company assets. Furthermore the company directors have agreed personal guarantees which total £351,203 (2022: £157,805).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
JJ Chauhan
Balance outstanding at start of year - (45,761 )
Amounts repaid - 45,761
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The loan has been charged at HMRC's official rate of interest and is repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr JJ & Mrs D Chauhan.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
JC Metalworks Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JC Metalworks Limited for the year ended 28 February 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of JC Metalworks Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JC Metalworks Limited and state those matters that we have agreed to state to the Board of Directors of JC Metalworks Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JC Metalworks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JC Metalworks Limited. You consider that JC Metalworks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JC Metalworks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


27 November 2023