TJS Steel Supplies Ltd NI614428 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the wholesale of metal Digita Accounts Production Advanced 6.30.9574.0 true NI614428 2023-01-01 2023-12-31 NI614428 2023-12-31 NI614428 bus:OrdinaryShareClass1 2023-12-31 NI614428 core:CurrentFinancialInstruments 2023-12-31 NI614428 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI614428 core:OtherPropertyPlantEquipment 2023-12-31 NI614428 bus:SmallEntities 2023-01-01 2023-12-31 NI614428 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI614428 bus:FilletedAccounts 2023-01-01 2023-12-31 NI614428 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI614428 bus:RegisteredOffice 2023-01-01 2023-12-31 NI614428 bus:Director2 2023-01-01 2023-12-31 NI614428 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 NI614428 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI614428 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI614428 countries:NorthernIreland 2023-01-01 2023-12-31 NI614428 2022-12-31 NI614428 core:OtherPropertyPlantEquipment 2022-12-31 NI614428 2022-01-01 2022-12-31 NI614428 2022-12-31 NI614428 bus:OrdinaryShareClass1 2022-12-31 NI614428 core:CurrentFinancialInstruments 2022-12-31 NI614428 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI614428 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI614428

TJS Steel Supplies Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

TJS Steel Supplies Ltd

(Registration number: NI614428)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,518

3,147

Current assets

 

Stocks

5

26,255

26,765

Debtors

6

114,153

59,778

Cash at bank and in hand

 

8,104

63,028

 

148,512

149,571

Creditors: Amounts falling due within one year

7

(59,665)

(73,995)

Net current assets

 

88,847

75,576

Total assets less current liabilities

 

91,365

78,723

Provisions for liabilities

(478)

(598)

Net assets

 

90,887

78,125

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

90,787

78,025

Shareholders' funds

 

90,887

78,125

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

TJS Steel Supplies Ltd

(Registration number: NI614428)
Balance Sheet as at 31 December 2023

Approved and authorised by the director on 23 April 2024
 

.........................................
Mr Philip Stewart
Director

 

TJS Steel Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 120B Ballinlea Road, Armoy, Ballymoney, Co. Antrim, BT53 8TY.

These financial statements were authorised for issue by the director on 23 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods to customers.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

TJS Steel Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

TJS Steel Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

6,148

6,148

At 31 December 2023

6,148

6,148

Depreciation

At 1 January 2023

3,001

3,001

Charge for the year

629

629

At 31 December 2023

3,630

3,630

Carrying amount

At 31 December 2023

2,518

2,518

At 31 December 2022

3,147

3,147

5

Stocks

2023
£

2022
£

Stock

26,255

26,765

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

46,674

42,405

Amounts owed by related parties

9

50,000

-

Prepayments

 

101

-

Other debtors

 

17,378

17,373

   

114,153

59,778

 

TJS Steel Supplies Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

13,866

27,179

Taxation and social security

 

917

2,217

Other creditors

 

44,882

44,599

 

59,665

73,995

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Related party transactions

Debtors includes £50,000 (2022: £nil) owing to the company from PCS Property Ltd, a company controlled by the director and his wife. Other debtors includes £17,373 (2022:£17,373) owing to the company from R S Construction (Co. Antrim) Ltd, a company controlled by the director and his wife. Other creditors includes £39,937 (2022:£39,937) owed by the company to P S Engineering (Co. Antrim) Ltd, a company controlled by the director and his wife.