Acorah Software Products - Accounts Production 16.1.200 false true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 04428931 Mr P J Harrison Mr PJ Harrison true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04428931 2023-07-31 04428931 2024-07-31 04428931 2023-08-01 2024-07-31 04428931 frs-core:FurnitureFittings 2023-08-01 2024-07-31 04428931 frs-core:NetGoodwill 2023-08-01 2024-07-31 04428931 frs-core:MotorVehicles 2023-08-01 2024-07-31 04428931 frs-core:PlantMachinery 2023-08-01 2024-07-31 04428931 frs-core:CapitalRedemptionReserve 2024-07-31 04428931 frs-core:ShareCapital 2024-07-31 04428931 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 04428931 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 04428931 frs-bus:AbridgedAccounts 2023-08-01 2024-07-31 04428931 frs-bus:SmallEntities 2023-08-01 2024-07-31 04428931 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 04428931 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 04428931 1 2023-08-01 2024-07-31 04428931 frs-bus:Director1 2023-08-01 2024-07-31 04428931 frs-countries:EnglandWales 2023-08-01 2024-07-31 04428931 2022-07-31 04428931 2023-07-31 04428931 2022-08-01 2023-07-31 04428931 frs-core:CapitalRedemptionReserve 2023-07-31 04428931 frs-core:ShareCapital 2023-07-31 04428931 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31
Registered number: 04428931
J & M Steel Stockholders Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Abridged Statement of Financial Position 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Statement of Financial Position
Registered number: 04428931
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 113,176 105,861
113,176 105,861
CURRENT ASSETS
Stocks 69,280 40,155
Debtors 168,433 128,244
Cash at bank and in hand 213,726 282,031
451,439 450,430
Creditors: Amounts Falling Due Within One Year (121,412 ) (64,026 )
NET CURRENT ASSETS (LIABILITIES) 330,027 386,404
TOTAL ASSETS LESS CURRENT LIABILITIES 443,203 492,265
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,402 ) (20,114 )
NET ASSETS 421,801 472,151
CAPITAL AND RESERVES
Called up share capital 6 100 100
Capital redemption reserve 1,000 1,000
Income Statement 420,701 471,051
SHAREHOLDERS' FUNDS 421,801 472,151
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For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
All of the company's members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financial Position for the year end 31 July 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr P J Harrison
Director
07/01/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
J & M Steel Stockholders Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04428931 . The registered office is 6-8 Botanic Road, Churchtown, Southport, Merseyside, PR9 7NG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balnce
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
4. Intangible Assets
Total
£
Cost
As at 1 August 2023 30,000
As at 31 July 2024 30,000
Amortisation
As at 1 August 2023 30,000
As at 31 July 2024 30,000
Net Book Value
As at 31 July 2024 -
As at 1 August 2023 -
5. Tangible Assets
Total
£
Cost
As at 1 August 2023 276,155
Additions 51,732
Disposals (34,974 )
As at 31 July 2024 292,913
Depreciation
As at 1 August 2023 170,294
Provided during the period 29,662
Disposals (20,219 )
As at 31 July 2024 179,737
Net Book Value
As at 31 July 2024 113,176
As at 1 August 2023 105,861
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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7. Ultimate Controlling Party
The company's ultimate controlling party is Mr PJ Harrison by virtue of his ownership of 100% of the issued share capital in the company.
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