2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03174900 2023-04-01 2024-03-31 03174900 2024-03-31 03174900 2023-03-31 03174900 2022-04-01 2023-03-31 03174900 2023-03-31 03174900 2022-03-31 03174900 core:PlantMachinery 2023-04-01 2024-03-31 03174900 core:FurnitureFittings 2023-04-01 2024-03-31 03174900 core:MotorVehicles 2023-04-01 2024-03-31 03174900 bus:Director1 2023-04-01 2024-03-31 03174900 core:PlantMachinery 2023-03-31 03174900 core:FurnitureFittings 2023-03-31 03174900 core:MotorVehicles 2023-03-31 03174900 core:PlantMachinery 2024-03-31 03174900 core:FurnitureFittings 2024-03-31 03174900 core:MotorVehicles 2024-03-31 03174900 core:WithinOneYear 2024-03-31 03174900 core:WithinOneYear 2023-03-31 03174900 core:AfterOneYear 2024-03-31 03174900 core:AfterOneYear 2023-03-31 03174900 core:ShareCapital 2024-03-31 03174900 core:ShareCapital 2023-03-31 03174900 core:RetainedEarningsAccumulatedLosses 2024-03-31 03174900 core:RetainedEarningsAccumulatedLosses 2023-03-31 03174900 core:PlantMachinery 2023-03-31 03174900 core:FurnitureFittings 2023-03-31 03174900 core:MotorVehicles 2023-03-31 03174900 bus:SmallEntities 2023-04-01 2024-03-31 03174900 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03174900 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03174900 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03174900 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 03174900
J. D. Scott Welding Services Ltd.
Filleted Unaudited Financial Statements
31 March 2024
J. D. Scott Welding Services Ltd.
Statement of Financial Position
31 March 2024
2024
2023
(restated)
Note
£
£
£
Fixed assets
Tangible assets
5
51,701
91,954
Current assets
Debtors
6
43,716
141,959
Cash at bank and in hand
91,413
145,358
---------
---------
135,129
287,317
Creditors: amounts falling due within one year
7
52,768
102,169
---------
---------
Net current assets
82,361
185,148
---------
---------
Total assets less current liabilities
134,062
277,102
Creditors: amounts falling due after more than one year
8
16,722
37,055
Deferred tax
Taxation including deferred tax
13,774
14,246
---------
---------
Net assets
103,566
225,801
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
103,466
225,701
---------
---------
Shareholders funds
103,566
225,801
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J. D. Scott Welding Services Ltd.
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 3 July 2024 , and are signed on behalf of the board by:
Mr J D Scott
Director
Company registration number: 03174900
J. D. Scott Welding Services Ltd.
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Birches, Brunt Common Lane, Ripley, Surrey, United Kingdom, GU23 6HD.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
15% reducing balance
Office Equipment
-
33% reducing balance
Motor Vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial asset, financial liabilities or equity instrument. An equity instrument is any contract that evidences a residual interest in the asset of the company after deducting all of its liabilities.
Defined contribution plans
The company operates a defined contribution pension scheme. Contributions payable to the company pension scheme are charged to the profit and loss account in the period to which they relate.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023 (as restated)
105,732
27,926
101,592
235,250
Disposals
( 24,128)
( 24,128)
---------
--------
---------
---------
At 31 March 2024
105,732
27,926
77,464
211,122
---------
--------
---------
---------
Depreciation
At 1 April 2023
90,515
24,601
28,180
143,296
Charge for the year
5,022
1,097
15,493
21,612
Disposals
( 5,487)
( 5,487)
---------
--------
---------
---------
At 31 March 2024
95,537
25,698
38,186
159,421
---------
--------
---------
---------
Carrying amount
At 31 March 2024
10,195
2,228
39,278
51,701
---------
--------
---------
---------
At 31 March 2023
15,217
3,325
73,412
91,954
---------
--------
---------
---------
6. Debtors
2024
2023
(restated)
£
£
Trade debtors
37,936
118,866
Other debtors
5,780
23,093
--------
---------
43,716
141,959
--------
---------
7. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
10,183
9,931
Trade creditors
5,245
44,434
Corporation tax
16,984
32,097
Social security and other taxes
6,701
1,296
Other creditors
13,655
14,411
--------
---------
52,768
102,169
--------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
(restated)
£
£
Bank loans and overdrafts
13,092
23,367
Other creditors
3,630
13,688
--------
--------
16,722
37,055
--------
--------
9. Director's advances, credits and guarantees
At the year end the director was owed owed £272 by the company (2023: owed to the company £1,768).