Company Registration No. 01817863 (England and Wales)
A & J Sectional Buildings Limited
Unaudited accounts
for the year ended 31 January 2024
A & J Sectional Buildings Limited
Unaudited accounts
Contents
A & J Sectional Buildings Limited
Company Information
for the year ended 31 January 2024
Directors
John Walter Souster
Jordan Peter Souster
Secretary
Amy Louise Russell
Company Number
01817863 (England and Wales)
Registered Office
Timsons Business Centre
Bath Road
Kettering
Northamptonshire
NN16 8NQ
England
Accountants
PHA Accountants Limited
Timsons Business Centre
Bath Road
Kettering
Northamptonshire
NN16 8NQ
A & J Sectional Buildings Limited
Statement of financial position
as at 31 January 2024
Tangible assets
1,367,029
1,171,750
Inventories
330,350
335,143
Cash at bank and in hand
271,145
180,329
Creditors: amounts falling due within one year
(1,086,924)
(576,511)
Net current (liabilities)/assets
(272,112)
89,782
Total assets less current liabilities
1,094,917
1,261,532
Creditors: amounts falling due after more than one year
(198,482)
(125,005)
Provisions for liabilities
Deferred tax
(68,096)
(105,335)
Net assets
828,339
1,031,192
Called up share capital
16,750
16,750
Revaluation reserve
424,972
425,870
Capital redemption reserve
3,250
3,250
Profit and loss account
383,367
585,322
Shareholders' funds
828,339
1,031,192
For the year ending 31 January 2024 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 25 November 2024 and were signed on its behalf by
Jordan Peter Souster
Director
Company Registration No. 01817863
A & J Sectional Buildings Limited
Notes to the Accounts
for the year ended 31 January 2024
A & J Sectional Buildings Limited is a private company, limited by shares, registered in England and Wales, registration number 01817863. The registered office is Timsons Business Centre, Bath Road, Kettering, Northamptonshire, NN16 8NQ, England. The principal place of business is A & J Sectional Buildings Ltd, 11-13 Edmonds Close, Denington Industrial Estate, Wellingborough, Northamptonshire, NN8 2QY, 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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in Pound sterling.
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
Land - Nil , Buildings - 2% on cost
Plant & machinery
25% on cost
Motor vehicles
20% on cost
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.
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 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.
Deferred tax assets and liabilities are not discounted.
A & J Sectional Buildings Limited
Notes to the Accounts
for the year ended 31 January 2024
Leased assets and hire purchase
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
The Directors have confirmed that they will continue to give financial support to the company until such time as its position improves.
The Directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial
statements do not include any adjustments that would result if the financial support was withdrawn.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 February 2023
1,166,950
618,431
-
1,785,381
Additions
-
261,654
45,342
306,996
Disposals
-
(273,311)
-
(273,311)
At 31 January 2024
1,166,950
606,774
45,342
1,819,066
At 1 February 2023
36,171
577,460
-
613,631
Charge for the year
14,647
57,802
9,068
81,517
On disposals
-
(243,111)
-
(243,111)
At 31 January 2024
50,818
392,151
9,068
452,037
At 31 January 2024
1,116,132
214,623
36,274
1,367,029
At 31 January 2023
1,130,779
40,971
-
1,171,750
Land and buildings with a carrying amount of 1,116,132 were revalued at 2 November 2020 by Underwoods LLP on the basis of market value.
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
197,323
-
A & J Sectional Buildings Limited
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Trade debtors
9,863
107,653
Accrued income and prepayments
10,506
12,851
Other debtors
33,547
30,317
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
370,999
61,000
Obligations under finance leases and hire purchase contracts
85,760
7,458
Trade creditors
204,749
284,334
Taxes and social security
250,841
173,566
Other creditors
21,816
32,123
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
164,046
36,419
8
Operating lease commitments
2024
2023
At 31 January 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
22,603
26,325
Later than one year and not later than five years
96,476
100,254
A & J Sectional Buildings Limited
Notes to the Accounts
for the year ended 31 January 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advances and repayments throughout the period
16,297
-
6,000
10,297
Advances and repayments throughout the period
6,000
7,400
7,000
6,400
22,297
7,400
13,000
16,697
10
Transactions with related parties
During the year, total dividends of 63,200 (2023: 60,000) were paid to the Director, Mr John Walter Souster.
11
Average number of employees
During the year the average number of employees was 55 (2023: 65).