REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
J & S Metals Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 April 2024 |
for |
J & S Metals Ltd |
J & S Metals Ltd (Registered number: 08491761) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
J & S Metals Ltd |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
T/A, Parkins, Chartered Accountants |
Moor Park House |
Bawtry Rd |
Wickersley |
Rotherham |
South Yorkshire |
S66 2BL |
J & S Metals Ltd (Registered number: 08491761) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Inventories | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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. |
J & S Metals Ltd (Registered number: 08491761) |
Balance Sheet - continued |
30 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
J & S Metals Ltd (Registered number: 08491761) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
J & S Metals Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Closing stock |
1. Trading Stock (Building Land and development ) |
The Company purchased Gleadalls Mill, The maltings, Station Road, Kirton Lindsey on 12th December 2014. The stock figure £86,665 represents the actual purchase price plus costs. The purchase being for subsequent re-sale and classed as Trading stock building land in the Accounts.(2022: £86,655) |
The Company developed land at Belton Road, Sandtoft £193,584 (2022:£193,584). The costs are carried forward in trading stock against future sale proceeds. |
2. Closing Stock (Scrap) |
The Director estimates stock to be £2,450,000 valued at cost or net realizable value, which ever is the lower. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
J & S Metals Ltd (Registered number: 08491761) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
J & S Metals Ltd (Registered number: 08491761) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
4. | PROPERTY, PLANT AND EQUIPMENT - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Included in cost of land and buildings is freehold land of £ 50,000 (2023 - £ 50,000 ) which is not depreciated. |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
and 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | INVENTORIES |
2024 | 2023 |
£ | £ |
Stocks |
Stock Lane | 1,129,241 | 1,129,241 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
J & S Metals Ltd (Registered number: 08491761) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 212,195 | 212,195 |
Other creditors |
Directors' current accounts | 226,708 | 226,708 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 9) |
Hire purchase contracts |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 178,546 | 178,546 |
J & S Metals Ltd (Registered number: 08491761) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
10. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 May 2023 |
Movement in year |
Balance at 30 April 2024 |
** | BALANCE ABOVE AT END OF YEAR RE DEFERRED TAX ON CLIENT SCREEN OF | - |
DOES NOT AGREE TO CURRENT YEAR TOTAL OF ACCOUNTS PER TB | 178,546 |
PLEASE CHECK CLIENT SCREEN - NOTES TO FINANCIAL STATEMENTS - BALANCE SHEET ITEMS - PROVISIONS FOR LIABILITIES - MOVEMENT IN PROVISIONS ETC |
Please note: a deferred tax asset should be entered as a negative balance (i.e. include a "-" sign) |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 2 | 2 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 May 2023 |
Deficit for the year | ( |
) |
At 30 April 2024 |
13. | RELATED PARTY DISCLOSURES |
The Company loaned Peak District Leisure Ltd, Reg office, Lonsdale House, High Street, Lutterworth, Leistershire, LE17 4AD, £375,000.00 on an interest free basis (2022: £375,000). The amount is disclosed in Other Debtors. |
The Director Mr John Riley is also a Director and 50 per cent shareholder in Peak District Leisure Ltd. |
Rileys Properties Ltd loaned J & S Metals Ltd £299,146 on an interest free basis. The amount is disclosed in Other Creditors (2022:£250,280) |
The Director J Riley is also Director and Shareholder of Riley's Properties Ltd. |
14. | ULTIMATE CONTROLLING PARTY |
The controlling party is J Riley. |
The ultimate controlling party is |