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Company Registration No. 10569225 (England and Wales)
A J Steel Works Ltd Unaudited accounts for the year ended 31 January 2024
A J Steel Works Ltd Unaudited accounts Contents
Page
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A J Steel Works Ltd Company Information for the year ended 31 January 2024
Director
Mr A S Jandoo
Company Number
10569225 (England and Wales)
Registered Office
12A RIPPLESIDE COMMERCIAL ESTATE RIPPLE ROAD BARKING IG11 0RJ ENGLAND
Accountants
Rustrick Accountants Limited 380A New Hythe lane Larkfield Maidstone Kent ME20 6RZ
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A J Steel Works Ltd Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
150,000 
150,000 
Tangible assets
37,472 
41,889 
187,472 
191,889 
Current assets
Inventories
38,820 
34,600 
Debtors
74,734 
45,712 
Cash at bank and in hand
492 
10,564 
114,046 
90,876 
Creditors: amounts falling due within one year
(222,543)
(200,171)
Net current liabilities
(108,497)
(109,295)
Total assets less current liabilities
78,975 
82,594 
Creditors: amounts falling due after more than one year
(39,855)
(54,651)
Net assets
39,120 
27,943 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
39,119 
27,942 
Shareholders' funds
39,120 
27,943 
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 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 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 and authorised for issue on 21 October 2024 and were signed on its behalf by
Mr A S Jandoo Director Company Registration No. 10569225
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A J Steel Works Ltd Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
A J Steel Works Ltd is a private company, limited by shares, registered in England and Wales, registration number 10569225. The registered office is 12A RIPPLESIDE COMMERCIAL ESTATE, RIPPLE ROAD, BARKING, IG11 0RJ, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ 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:
Motor vehicles
Reducing Balance Basis 10% & 20%
Fixtures & fittings
Reducing Balance Basis 20%
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Deferred taxation
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.
Turnover
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. 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.
Pension costs
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.
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A J Steel Works Ltd Notes to the Accounts for the year ended 31 January 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 February 2023
150,000 
At 31 January 2024
150,000 
Amortisation
At 1 February 2023
- 
At 31 January 2024
- 
Net book value
At 31 January 2024
150,000 
At 31 January 2023
150,000 
5
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2023
43,140 
26,500 
69,640 
Additions
- 
583 
583 
At 31 January 2024
43,140 
27,083 
70,223 
Depreciation
At 1 February 2023
8,197 
19,554 
27,751 
Charge for the year
3,494 
1,506 
5,000 
At 31 January 2024
11,691 
21,060 
32,751 
Net book value
At 31 January 2024
31,449 
6,023 
37,472 
At 31 January 2023
34,943 
6,946 
41,889 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
31,449 
34,943 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,645 
- 
Trade debtors
62,221 
40,975 
Accrued income and prepayments
3,535 
3,200 
Other debtors
5,333 
1,537 
74,734 
45,712 
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A J Steel Works Ltd Notes to the Accounts for the year ended 31 January 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
7,606 
12,754 
VAT
- 
965 
Obligations under finance leases and hire purchase contracts
7,736 
7,736 
Trade creditors
38,032 
22,358 
Taxes and social security
2,559 
217 
Other creditors
84,279 
84,446 
Loans from directors
80,881 
70,245 
Accruals
1,450 
1,450 
222,543 
200,171 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
31,474 
36,795 
Obligations under finance leases and hire purchase contracts
8,381 
17,856 
39,855 
54,651 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
10
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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