Acorah Software Products - Accounts Production 16.1.300 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 03321440 Mr J L James Mrs J M James Mr S James Mrs E Steel Mrs J M James iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03321440 2023-04-30 03321440 2024-04-30 03321440 2023-05-01 2024-04-30 03321440 frs-core:CurrentFinancialInstruments 2024-04-30 03321440 frs-core:Non-currentFinancialInstruments 2024-04-30 03321440 frs-core:FurnitureFittings 2024-04-30 03321440 frs-core:FurnitureFittings 2023-05-01 2024-04-30 03321440 frs-core:FurnitureFittings 2023-04-30 03321440 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-04-30 03321440 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 03321440 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-04-30 03321440 frs-core:MotorVehicles 2024-04-30 03321440 frs-core:MotorVehicles 2023-05-01 2024-04-30 03321440 frs-core:MotorVehicles 2023-04-30 03321440 frs-core:PlantMachinery 2024-04-30 03321440 frs-core:PlantMachinery 2023-05-01 2024-04-30 03321440 frs-core:PlantMachinery 2023-04-30 03321440 frs-core:ShareCapital 2024-04-30 03321440 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 03321440 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03321440 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 03321440 frs-bus:SmallEntities 2023-05-01 2024-04-30 03321440 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03321440 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03321440 frs-bus:Director1 2023-05-01 2024-04-30 03321440 frs-bus:Director2 2023-05-01 2024-04-30 03321440 frs-bus:Director3 2023-05-01 2024-04-30 03321440 frs-bus:Director4 2023-05-01 2024-04-30 03321440 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 03321440 frs-core:CurrentFinancialInstruments 1 2024-04-30 03321440 frs-core:CurrentFinancialInstruments 2 2024-04-30 03321440 frs-core:Non-currentFinancialInstruments 2 2024-04-30 03321440 frs-core:CurrentFinancialInstruments 3 2024-04-30 03321440 frs-core:Non-currentFinancialInstruments 3 2024-04-30 03321440 frs-core:CurrentFinancialInstruments 4 2024-04-30 03321440 frs-countries:EnglandWales 2023-05-01 2024-04-30 03321440 2022-04-30 03321440 2023-04-30 03321440 2022-05-01 2023-04-30 03321440 frs-core:CurrentFinancialInstruments 2023-04-30 03321440 frs-core:Non-currentFinancialInstruments 2023-04-30 03321440 frs-core:ShareCapital 2023-04-30 03321440 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30 03321440 frs-core:CurrentFinancialInstruments 1 2023-04-30 03321440 frs-core:CurrentFinancialInstruments 2 2023-04-30 03321440 frs-core:Non-currentFinancialInstruments 2 2023-04-30 03321440 frs-core:CurrentFinancialInstruments 3 2023-04-30 03321440 frs-core:Non-currentFinancialInstruments 3 2023-04-30 03321440 frs-core:CurrentFinancialInstruments 4 2023-04-30
Registered number: 03321440
James and Steel Limited
Unaudited Financial Statements
For The Year Ended 30 April 2024
K A Farr & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03321440
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 669,995 678,202
669,995 678,202
CURRENT ASSETS
Stocks 5 1,298,896 1,330,086
Debtors 6 423,660 539,166
Cash at bank and in hand 284 62,607
1,722,840 1,931,859
Creditors: Amounts Falling Due Within One Year 7 (534,520 ) (582,855 )
NET CURRENT ASSETS (LIABILITIES) 1,188,320 1,349,004
TOTAL ASSETS LESS CURRENT LIABILITIES 1,858,315 2,027,206
Creditors: Amounts Falling Due After More Than One Year 8 (125,528 ) (271,744 )
NET ASSETS 1,732,787 1,755,462
CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Profit and Loss Account 1,731,787 1,754,462
SHAREHOLDERS' FUNDS 1,732,787 1,755,462
Page 1
Page 2
For the year ending 30 April 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.
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 Profit and Loss Account.
On behalf of the board
Mr S James
Director
Mrs E Steel
Director
22/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
James and Steel Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03321440 . The registered office is Oxford House Broadmoor Park, Forest Vale Industrial Estate, Cinderford ,Gloucestershire, GL14 2YF.
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. 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:
Land & Buildings 1% Straight Line
Plant & Machinery 15% on WDV
Motor Vehicles 25% on WDV
Fixtures ,Fittings & Equipment 15% on WDV
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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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.
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are 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: 19 (2023: 14)
19 14
4. Tangible Assets
Land & Property
Land & Buildings Plant & Machinery Motor Vehicles Fixtures ,Fittings & Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 742,905 76,017 116,182 99,849 1,034,953
Additions - - 15,950 - 15,950
Disposals - - (26,749 ) - (26,749 )
As at 30 April 2024 742,905 76,017 105,383 99,849 1,024,154
Depreciation
As at 1 May 2023 105,389 70,583 86,717 94,062 356,751
Provided during the period 7,429 815 8,696 868 17,808
Disposals - - (20,400 ) - (20,400 )
As at 30 April 2024 112,818 71,398 75,013 94,930 354,159
Net Book Value
As at 30 April 2024 630,087 4,619 30,370 4,919 669,995
As at 1 May 2023 637,516 5,434 29,465 5,787 678,202
5. Stocks
2024 2023
£ £
Finished goods and goods for resale 1,298,896 1,330,086
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 415,159 399,456
Other debtors 1,511 132,720
Corporation tax recoverable assets 6,990 6,990
423,660 539,166
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,546 53,682
Bank loans and overdrafts 178,543 250,923
Corporation tax 33,027 2,662
PAYE control account 6,042 9,140
VAT 111,879 94,456
Funding Circle Loan < 1 Year - 3,672
HSBC CBI Loan < 1 Year 57,500 57,500
Obligation under Finance lease < 1 Year 5,242 6,176
Other Creditors. 11,757 -
Pension Liability 1,345 1,606
Directors' loan accounts 105,639 103,038
534,520 582,855
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
HSBC Mortgage a/c > 1 Year 117,045 195,367
HSBC CBI Loan > 1 Year - 62,292
Obligation under Finance lease > 1 Year 8,483 14,085
125,528 271,744
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
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