IRIS Accounts Production v23.3.1.45 SC207620 Board of Directors 1.6.22 31.5.23 31.5.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2076202022-05-31SC2076202023-05-31SC2076202022-06-012023-05-31SC2076202021-05-31SC2076202021-06-012022-05-31SC2076202022-05-31SC207620ns10:Originalns15:Scotland2022-06-012023-05-31SC207620ns14:PoundSterlingns10:Original2022-06-012023-05-31SC207620ns10:Originalns10:Director12022-06-012023-05-31SC207620ns10:Original2022-06-012023-05-31SC207620ns10:Original2023-05-31SC207620ns10:Originalns10:PrivateLimitedCompanyLtd2022-06-012023-05-31SC207620ns10:Originalns10:SmallEntities2022-06-012023-05-31SC207620ns10:Originalns10:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC207620ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-06-012023-05-31SC207620ns10:SmallCompaniesRegimeForAccountsns10:Original2022-06-012023-05-31SC207620ns10:Originalns10:FullAccounts2022-06-012023-05-31SC207620ns10:Originalns10:Director22022-06-012023-05-31SC207620ns10:CompanySecretary1ns10:Original2022-06-012023-05-31SC207620ns10:Originalns10:RegisteredOffice2022-06-012023-05-31SC207620ns10:Original2022-05-31SC207620ns10:Originalns5:CurrentFinancialInstruments2023-05-31SC207620ns10:Originalns5:CurrentFinancialInstruments2022-05-31SC207620ns5:ShareCapitalns10:Original2023-05-31SC207620ns5:ShareCapitalns10:Original2022-05-31SC207620ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-05-31SC207620ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-31SC207620ns10:Originalns5:LandBuildings2022-06-012023-05-31SC207620ns10:Originalns5:PlantMachinery2022-06-012023-05-31SC207620ns10:Original2021-06-012022-05-31SC207620ns10:Originalns5:LandBuildings2022-05-31SC207620ns10:Originalns5:PlantMachinery2022-05-31SC207620ns10:Original2022-05-31SC207620ns10:Originalns5:LandBuildings2023-05-31SC207620ns10:Originalns5:PlantMachinery2023-05-31SC207620ns10:Originalns5:LandBuildings2022-05-31SC207620ns10:Originalns5:PlantMachinery2022-05-31SC207620ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31SC207620ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-05-31SC207620ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-05-31SC207620ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-012023-05-31
REGISTERED NUMBER: SC207620 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

JAYLINE BEARINGS LIMITED

JAYLINE BEARINGS LIMITED (REGISTERED NUMBER: SC207620)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAYLINE BEARINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: J Millar
Mrs C Millar



SECRETARY: Mrs S Seaton



REGISTERED OFFICE: 31 Overmills Road
Holmston
Ayr
Ayrshire
KA7 3LH



REGISTERED NUMBER: SC207620 (Scotland)



ACCOUNTANTS: Galbraith Pritchards
Chartered Accountants
20 Barns Street
Ayr
Ayrshire
KA7 1XA



BANKERS: Santander UK plc
301 St Vincent Street
Glasgow
G2 5NT

JAYLINE BEARINGS LIMITED (REGISTERED NUMBER: SC207620)

BALANCE SHEET
31 MAY 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,550 39,476

CURRENT ASSETS
Stocks 228,456 165,187
Debtors 5 141,708 115,751
Cash at bank and in hand 907,080 945,294
1,277,244 1,226,232
CREDITORS
Amounts falling due within one year 6 480,471 413,558
NET CURRENT ASSETS 796,773 812,674
TOTAL ASSETS LESS CURRENT
LIABILITIES

826,323

852,150

PROVISIONS FOR LIABILITIES 7,387 9,664
NET ASSETS 818,936 842,486

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 818,836 842,386
818,936 842,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

JAYLINE BEARINGS LIMITED (REGISTERED NUMBER: SC207620)

BALANCE SHEET - continued
31 MAY 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 15 February 2024 and were signed on its behalf by:





J Millar - Director


JAYLINE BEARINGS LIMITED (REGISTERED NUMBER: SC207620)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

Jayline Bearings Limited 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.

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 - 20% on cost
Plant and machinery etc - 33% on reducing balance and 25% 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 balance sheet date.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

JAYLINE BEARINGS LIMITED (REGISTERED NUMBER: SC207620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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.

Financial instruments
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recoginised at transaction value and subsequently measured at their settlement value.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement, and the amount can be reliably estimated.

Impairment
A review of impairment is carried out at each reporting date. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior year impairments are also reviewed for possible reversal at each reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 5,558 69,328 74,886
DEPRECIATION
At 1 June 2022 5,558 29,852 35,410
Charge for year - 9,926 9,926
At 31 May 2023 5,558 39,778 45,336
NET BOOK VALUE
At 31 May 2023 - 29,550 29,550
At 31 May 2022 - 39,476 39,476

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Trade debtors 133,936 97,529
Other debtors 7,772 18,222
141,708 115,751

JAYLINE BEARINGS LIMITED (REGISTERED NUMBER: SC207620)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 20,940 25,186
Trade creditors 123,637 62,972
Taxation and social security 7,235 19,098
Other creditors 328,659 306,302
480,471 413,558

7. RESERVES
Retained
earnings
£   

At 1 June 2022 842,386
Profit for the year 14,450
Dividends (38,000 )
At 31 May 2023 818,836