BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the manufacture of stainless steel products for various uses, such as large containers, tanks, water treatment and the sewage industry. 30 January 2025 35 35 NI035239 2024-04-30 NI035239 2023-04-30 NI035239 2022-04-30 NI035239 2023-05-01 2024-04-30 NI035239 2022-05-01 2023-04-30 NI035239 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI035239 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI035239 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI035239 uk-bus:AbridgedAccounts 2023-05-01 2024-04-30 NI035239 uk-core:ShareCapital 2024-04-30 NI035239 uk-core:ShareCapital 2023-04-30 NI035239 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI035239 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI035239 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI035239 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI035239 uk-bus:FRS102 2023-05-01 2024-04-30 NI035239 uk-core:Land 2023-05-01 2024-04-30 NI035239 uk-core:PlantMachinery 2023-05-01 2024-04-30 NI035239 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI035239 uk-core:MotorVehicles 2023-05-01 2024-04-30 NI035239 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 NI035239 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 NI035239 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 NI035239 uk-core:CostValuation 2023-04-30 NI035239 uk-core:AdditionsToInvestments 2023-04-30 NI035239 uk-core:AdditionsToInvestments 2024-04-30 NI035239 uk-core:CostValuation 2024-04-30 NI035239 uk-core:ParentEntities 2023-05-01 2024-04-30 NI035239 2023-05-01 2024-04-30 NI035239 uk-bus:Director1 2023-05-01 2024-04-30 NI035239 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
J.K. Fabrications Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 April 2024



J.K. Fabrications Limited
Company Registration Number: NI035239
ABRIDGED BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 70,871 126,269
Tangible assets 5 2,895,438 2,544,844
Investments 6 160,164 130,050
───────── ─────────
Fixed Assets 3,126,473 2,801,163
───────── ─────────
 
Current Assets
Stocks 255,176 169,816
Debtors 1,524,665 1,370,858
Cash and cash equivalents 361,005 29,777
───────── ─────────
2,140,846 1,570,451
───────── ─────────
Creditors: amounts falling due within one year (2,814,603) (2,166,999)
───────── ─────────
Net Current Liabilities (673,757) (596,548)
───────── ─────────
Total Assets less Current Liabilities 2,452,716 2,204,615
 
Creditors:
amounts falling due after more than one year (667,680) (503,817)
 
Provisions for liabilities (123,200) (81,536)
 
Government grants (43,813) (59,734)
───────── ─────────
Net Assets 1,618,023 1,559,528
═════════ ═════════
 
Capital and Reserves
Called up share capital 20,000 20,000
Retained earnings 1,598,023 1,539,528
───────── ─────────
Shareholders' Funds 1,618,023 1,559,528
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 30 January 2025
           
           
________________________________          
Mr. John King          
Director          
           



J.K. Fabrications Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
JK Fabrications Limited is a private company limited by shares incorporated in Northern Ireland.  Unit 5 Carbane Business Park Newry BT35 6QH is the registered office, which is also the principal place of business of the company. The company registration number is NI035239.

The financial statements cover the individual entity JK Fabrications Ltd, for the year ended 30 April 2024.

The financial statements have been presented in pounds sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.
 
Intangible assets
Intangible assets are valued at cost less accumulated amortisation.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 2% Straight Line
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
 
Research and development
Development expenditure is written off in the same year unless the director are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was as follows:
 
  2024 2023
  Number Number
 
Employees 35 35
  ═════════ ═════════
       
4. Intangible assets
  Development  
  Costs Total
  £ £
Cost
At 1 May 2023 446,067 446,067
  ───────── ─────────
 
At 30 April 2024 446,067 446,067
  ───────── ─────────
Amortisation
At 1 May 2023 319,798 319,798
Charge for financial year 55,398 55,398
  ───────── ─────────
At 30 April 2024 375,196 375,196
  ───────── ─────────
Net book value
At 30 April 2024 70,871 70,871
  ═════════ ═════════
At 30 April 2023 126,269 126,269
  ═════════ ═════════
             
5. Tangible assets
  Long Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 May 2023 2,417,861 1,286,800 142,206 213,493 4,060,360
Additions 414,283 79,284 9,515 - 503,082
  ───────── ───────── ───────── ───────── ─────────
At 30 April 2024 2,832,144 1,366,084 151,721 213,493 4,563,442
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 May 2023 423,843 809,600 121,038 161,035 1,515,516
Charge for the financial year 33,690 102,870 4,771 11,157 152,488
  ───────── ───────── ───────── ───────── ─────────
At 30 April 2024 457,533 912,470 125,809 172,192 1,668,004
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 April 2024 2,374,611 453,614 25,912 41,301 2,895,438
  ═════════ ═════════ ═════════ ═════════ ═════════
At 30 April 2023 1,994,018 477,200 21,168 52,458 2,544,844
  ═════════ ═════════ ═════════ ═════════ ═════════
           
5.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Plant and machinery 231,282 94,720 295,502 73,875
  ═════════ ═════════ ═════════ ═════════
       
6. Investments
  Other Total
  investments  
     
Investments £ £
Cost
At 1 May 2023 130,050 130,050
Additions 30,114 30,114
  ───────── ─────────
At 30 April 2024 160,164 160,164
  ───────── ─────────
Net book value
At 30 April 2024 160,164 160,164
  ═════════ ═════════
At 30 April 2023 130,050 130,050
  ═════════ ═════════
   
7. Parent company
 
The company regards John King Holdings Ltd as its parent company.
 
       
8. Pension commitments
 
The company operates a defined contribution pension scheme for employees.  The assets of the scheme are held separately from those of the company in an independently administered fund.  At the balance sheet date, there was a total of £5,993 in contributions due to the fund (£10,699 in 2023)
       
9. Related party transactions
 
The company has availed of the exemption under FRS102 in relation to the disclosure of transactions with group companies.
       
10. Secured Creditors
 
The company has given security on debts totalling £346,664  in the financial year ended 30th April 2024 (2023 - £404,910).
All monies charge including a floating charge in favour of Bank of Ireland covering certain assets of the company.
Floating charge covering property of the company in favour of NI Growth Loan Fund.