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Company Registration No. 14380547 (England and Wales)
JG Industrial Fastenings Limited Unaudited accounts for the period from 27 September 2022 to 31 July 2023
JG Industrial Fastenings Limited Unaudited accounts Contents
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JG Industrial Fastenings Limited Company Information for the period from 27 September 2022 to 31 July 2023
Directors
Andrew Keith Bennett Michael Vincent Blakey Matthew James Kenny
Company Number
14380547 (England and Wales)
Registered Office
UNIT 16H FOLLINGSBY AVENUE FOLLINGSBY INDUSTRIAL ESTATE GATESHEAD TYNE & WEAR NE10 8YF ENGLAND
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JG Industrial Fastenings Limited Statement of financial position as at 31 July 2023
2023 
Notes
£ 
Fixed assets
Tangible assets
11,809 
Current assets
Inventories
39,878 
Debtors
115,659 
Cash at bank and in hand
185,029 
340,566 
Creditors: amounts falling due within one year
(278,574)
Net current assets
61,992 
Net assets
73,801 
Capital and reserves
Called up share capital
1 
Profit and loss account
73,800 
Shareholders' funds
73,801 
For the period ending 31 July 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 directors acknowledge their 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 of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by
Michael Vincent Blakey Director Company Registration No. 14380547
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JG Industrial Fastenings Limited Notes to the Accounts for the period from 27 September 2022 to 31 July 2023
1
Statutory information
JG Industrial Fastenings Limited is a private company, limited by shares, registered in England and Wales, registration number 14380547. The registered office is UNIT 16H FOLLINGSBY AVENUE, FOLLINGSBY INDUSTRIAL ESTATE, GATESHEAD, TYNE & WEAR, NE10 8YF, ENGLAND.
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 been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
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:
Motor vehicles
5 years straight line
Fixtures & fittings
5 years straight line
Inventories
Inventories have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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JG Industrial Fastenings Limited Notes to the Accounts for the period from 27 September 2022 to 31 July 2023
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 27 September 2022
- 
- 
- 
Additions
6,000 
21,160 
27,160 
Disposals
(3,000)
- 
(3,000)
At 31 July 2023
3,000 
21,160 
24,160 
Depreciation
Charge for the period
812 
11,726 
12,538 
On disposals
(187)
- 
(187)
At 31 July 2023
625 
11,726 
12,351 
Net book value
At 31 July 2023
2,375 
9,434 
11,809 
5
Debtors
2023 
£ 
Amounts falling due within one year
Trade debtors
114,647 
Accrued income and prepayments
1,012 
115,659 
6
Creditors: amounts falling due within one year
2023 
£ 
VAT
14,223 
Trade creditors
78,007 
Amounts owed to group undertakings and other participating interests
167,122 
Taxes and social security
16,554 
Accruals
2,668 
278,574 
7
Controlling party
The Industrial Mandate, 16H Follingsby Avenue, Follingsby Industrial Estate, Gateshead, Tyne & Wear, England, NE10 8YF
8
Average number of employees
During the period the average number of employees was 4.
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