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Company Registration No. 13421032 (England and Wales)
R&J Custom & Classics Ltd Unaudited accounts for the year ended 31 May 2024
R&J Custom & Classics Ltd Unaudited accounts Contents
Page
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R&J Custom & Classics Ltd Company Information for the year ended 31 May 2024
Directors
J. Ferguson R. Ferguson
Company Number
13421032 (England and Wales)
Registered Office
25 Tanyard Road Oakes Huddersfield West Yorkshire HD3 4YW England
Accountants
Small Business Accountancy 18 Stoney Hill Rastrick Brighouse West Yorkshire HD6 3BP
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R&J Custom & Classics Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,902 
5,069 
Current assets
Inventories
14,965 
14,557 
Debtors
360 
501 
Cash at bank and in hand
20,100 
7,008 
35,425 
22,066 
Creditors: amounts falling due within one year
(36,695)
(29,418)
Net current liabilities
(1,270)
(7,352)
Net assets/(liabilities)
3,632 
(2,283)
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
3,630 
(2,285)
Shareholders' funds
3,632 
(2,283)
For the year ending 31 May 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 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 of Directors and authorised for issue on 20 February 2025 and were signed on its behalf by
J. Ferguson Director Company Registration No. 13421032
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R&J Custom & Classics Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
R&J Custom & Classics Ltd is a private company, limited by shares, registered in England and Wales, registration number 13421032. The registered office is 25 Tanyard Road, Oakes, Huddersfield, West Yorkshire, HD3 4YW, 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:
Plant & machinery
20% reducing balance
Computer equipment
25% reducing balance
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.
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.
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R&J Custom & Classics Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
5,916 
449 
6,365 
Additions
1,079 
- 
1,079 
At 31 May 2024
6,995 
449 
7,444 
Depreciation
At 1 June 2023
1,184 
112 
1,296 
Charge for the year
1,162 
84 
1,246 
At 31 May 2024
2,346 
196 
2,542 
Net book value
At 31 May 2024
4,649 
253 
4,902 
At 31 May 2023
4,732 
337 
5,069 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
300 
- 
Deferred tax asset
60 
501 
360 
501 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
947 
- 
Loans from directors
32,815 
27,158 
Accruals
2,933 
2,260 
36,695 
29,418 
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
(60)
(246)
Tax losses carried forward
- 
(255)
(60)
(501)
2024 
2023 
£ 
£ 
Provision at start of year
(501)
- 
Charged/(credited) to the profit and loss account
441 
(501)
Provision at end of year
(60)
(501)
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R&J Custom & Classics Ltd Notes to the Accounts for the year ended 31 May 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Transactions with related parties
The company is in receipt of loans amounting to £32,815.00 from members of key management personnel. The loans are payable on demand and the rate of interest charged is 0%. At the balance sheet date, the loans were still outstanding and are presented within creditors: amounts falling due within one year.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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