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Company Registration No. 00793335 (England and Wales)
J.B.SCHOFIELD & SONS LIMITED Unaudited accounts for the year ended 31 December 2023
J.B.SCHOFIELD & SONS LIMITED Unaudited accounts Contents
Page
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J.B.SCHOFIELD & SONS LIMITED Company Information for the year ended 31 December 2023
Director
R M Schofield
Secretary
R M Schofield
Company Number
00793335 (England and Wales)
Registered Office
8 GREENHEAD LINTHWAITE HUDDERSFIELD HD7 5TS
Accountants
JOHN TURNER, CHARTERED ACCOUNTANT 104 PENISTONE ROAD KIRKBURTON HUDDERSFIELD WEST YORKSHIRE HD8 0TA
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J.B.SCHOFIELD & SONS LIMITED Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,116,595 
2,081,450 
Current assets
Inventories
863,433 
875,454 
Debtors
339,914 
357,961 
Cash at bank and in hand
4,053,436 
3,646,465 
5,256,783 
4,879,880 
Creditors: amounts falling due within one year
(244,186)
(209,198)
Net current assets
5,012,597 
4,670,682 
Total assets less current liabilities
7,129,192 
6,752,132 
Provisions for liabilities
Deferred tax
(355,297)
(345,059)
Net assets
6,773,895 
6,407,073 
Capital and reserves
Called up share capital
668 
668 
Capital redemption reserve
334 
334 
Profit and loss account
6,772,893 
6,406,071 
Shareholders' funds
6,773,895 
6,407,073 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 March 2024 and were signed on its behalf by
R M Schofield Director Company Registration No. 00793335
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J.B.SCHOFIELD & SONS LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
J.B.SCHOFIELD & SONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 00793335. The registered office is 8 GREENHEAD, LINTHWAITE, HUDDERSFIELD, HD7 5TS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0% per annum
Plant & machinery
20% per annum
Motor vehicles
25% per annum
Computer equipment
20% per annum
Other tangible fixed assets
5% per annum
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
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J.B.SCHOFIELD & SONS LIMITED Notes to the Accounts for the year ended 31 December 2023
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2023
725,263 
2,344,041 
531,624 
42,524 
3,643,452 
Additions
- 
488,041 
- 
- 
488,041 
Disposals
- 
(272,500)
(49,516)
- 
(322,016)
At 31 December 2023
725,263 
2,559,582 
482,108 
42,524 
3,809,477 
Depreciation
At 1 January 2023
53,389 
1,054,066 
417,512 
37,035 
1,562,002 
Charge for the year
530 
339,102 
28,234 
1,352 
369,218 
On disposals
- 
(189,998)
(48,340)
- 
(238,338)
At 31 December 2023
53,919 
1,203,170 
397,406 
38,387 
1,692,882 
Net book value
At 31 December 2023
671,344 
1,356,412 
84,702 
4,137 
2,116,595 
At 31 December 2022
671,874 
1,289,975 
114,112 
5,489 
2,081,450 
The assets of the company have not been re-valued in the accounts. The directors have considered their value, and are satisfied that their aggregate value as at 31 December 2023 was not less than their net book value shown in the accounts.
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
284,018 
340,323 
Accrued income and prepayments
55,896 
17,638 
339,914 
357,961 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
23,448 
38,588 
Trade creditors
110,215 
91,298 
Taxes and social security
110,523 
79,312 
244,186 
209,198 
7
Transactions with related parties
The director and shareholder of the company is interested in the issued share capital of W Oldcorn Limited, to whom goods and services to the value of £3,204 were sold during the year (2022 goods and services purchased from W Oldcorn Limited £6,305) At the financial year end the company owed W Oldcorn Limited £NIL (2022 £5100). Mr R M Schofield is a director of Schofield Reclamation Limited, to whom goods and services to the value of £22,000 (2022 £21,420) were sold during the year.
8
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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