J & M Mechanical and Fabrication Ltd 07247097 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of welding and fabrication. This remains unchanged from the previous year Digita Accounts Production Advanced 6.30.9574.0 true true 07247097 2022-12-01 2023-11-30 07247097 2023-11-30 07247097 bus:OrdinaryShareClass1 2023-11-30 07247097 core:RetainedEarningsAccumulatedLosses 2023-11-30 07247097 core:ShareCapital 2023-11-30 07247097 core:CurrentFinancialInstruments 2023-11-30 07247097 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 07247097 core:FurnitureFittingsToolsEquipment 2023-11-30 07247097 core:MotorVehicles 2023-11-30 07247097 bus:SmallEntities 2022-12-01 2023-11-30 07247097 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 07247097 bus:FullAccounts 2022-12-01 2023-11-30 07247097 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 07247097 bus:RegisteredOffice 2022-12-01 2023-11-30 07247097 bus:Director1 2022-12-01 2023-11-30 07247097 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 07247097 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07247097 core:FurnitureFittings 2022-12-01 2023-11-30 07247097 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 07247097 core:MotorVehicles 2022-12-01 2023-11-30 07247097 core:PlantMachinery 2022-12-01 2023-11-30 07247097 countries:England 2022-12-01 2023-11-30 07247097 2022-11-30 07247097 core:FurnitureFittingsToolsEquipment 2022-11-30 07247097 core:MotorVehicles 2022-11-30 07247097 2021-12-01 2022-11-30 07247097 2022-11-30 07247097 bus:OrdinaryShareClass1 2022-11-30 07247097 core:RetainedEarningsAccumulatedLosses 2022-11-30 07247097 core:ShareCapital 2022-11-30 07247097 core:CurrentFinancialInstruments 2022-11-30 07247097 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 07247097 core:FurnitureFittingsToolsEquipment 2022-11-30 07247097 core:MotorVehicles 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07247097

J & M Mechanical and Fabrication Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 November 2023

 

J & M Mechanical and Fabrication Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

J & M Mechanical and Fabrication Ltd

(Registration number: 07247097)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

35,621

34,082

Current assets

 

Stocks

-

20,134

Debtors

5

132,473

219,500

Cash at bank and in hand

 

93,883

75,662

 

226,356

315,296

Creditors: Amounts falling due within one year

6

(68,798)

(114,272)

Net current assets

 

157,558

201,024

Total assets less current liabilities

 

193,179

235,106

Provisions for liabilities

(6,768)

(6,476)

Net assets

 

186,411

228,630

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

186,311

228,530

Shareholders' funds

 

186,411

228,630

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

J & M Mechanical and Fabrication Ltd

(Registration number: 07247097)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 22 August 2024 and signed on its behalf by:
 


Mr M Hotham
Director

   
 

J & M Mechanical and Fabrication Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
Sunningdale Road
Southpark Industrial Est
Scunthorpe
North Lincolnshire
DN17 2TY

Registration number: 07247097

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

J & M Mechanical and Fabrication Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicles

25% reduing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

J & M Mechanical and Fabrication Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 directors) during the year was 12 (2022 - 13).

 

J & M Mechanical and Fabrication Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

43,744

67,873

111,617

Additions

4,898

4,167

9,065

At 30 November 2023

48,642

72,040

120,682

Depreciation

At 1 December 2022

29,500

48,035

77,535

Charge for the year

2,393

5,133

7,526

At 30 November 2023

31,893

53,168

85,061

Carrying amount

At 30 November 2023

16,749

18,872

35,621

At 30 November 2022

14,244

19,838

34,082

5

Debtors

2023
£

2022
£

Trade debtors

83,104

94,781

Other debtors

49,369

123,244

Social security and other taxes

-

1,475

Total current trade and other debtors

132,473

219,500

 

J & M Mechanical and Fabrication Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Trade payables

 

20,749

46,828

Amounts due to related parties

15,670

22,399

Social security and other taxes

 

27,637

36,390

Other payables

 

4,742

8,655

 

68,798

114,272

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100