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
A J Steel Works Ltd
Company Information
for the year ended 31 January 2024
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
A J Steel Works Ltd
Statement of financial position
as at 31 January 2024
Intangible assets
150,000
150,000
Tangible assets
37,472
41,889
Cash at bank and in hand
492
10,564
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)
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
A J Steel Works Ltd
Notes to the Accounts
for the year ended 31 January 2024
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.
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 £ 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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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 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 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.
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.
A J Steel Works Ltd
Notes to the Accounts
for the year ended 31 January 2024
4
Intangible fixed assets
Goodwill
At 1 February 2023
150,000
At 31 January 2024
150,000
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
At 31 January 2024
43,140
27,083
70,223
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
At 31 January 2024
31,449
6,023
37,472
At 31 January 2023
34,943
6,946
41,889
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
31,449
34,943
Amounts falling due within one year
Trade debtors
62,221
40,975
Accrued income and prepayments
3,535
3,200
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
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
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
8,381
17,856
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).