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Registered number: 02987239









J & R STEEL FABRICATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
J & R STEEL FABRICATION LIMITED
REGISTERED NUMBER: 02987239

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024


2024

2023
Note
£
£
£
£

  

Fixed assets
  

Tangible assets
 4 
67,903
46,630

  
67,903
46,630

Current assets
  

Debtors: amounts falling due within one year
 5 
238,943
212,206

Cash at bank and in hand
 6 
361,745
616,691

  
600,688
828,897

Creditors: amounts falling due within one year
 7 
(164,391)
(266,482)

Net current assets
  
 
 
436,297
 
 
562,415

Total assets less current liabilities
  
504,200
609,045

  

Provisions for liabilities
  

Deferred taxation
 8 
(13,676)
(11,788)

  
 
 
(13,676)
 
 
(11,788)

  

Net assets
  
490,524
597,257


Capital and reserves
  

Called up share capital 
 9 
1,000
1,000

Profit and loss account
  
489,524
596,257

  
490,524
597,257


Page 1

 
J & R STEEL FABRICATION LIMITED
REGISTERED NUMBER: 02987239
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 February 2025.




J R Whitmore
Director


The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
J & R STEEL FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

J & R Steel Fabrication Limited is a company limited by shares, incorporated in England and Wales. The registered office is Unit 3, Elder Farm, West End Lane, Harlington, Hayes, UB3 5LY.
The company specialises in metal fabrication.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
J & R STEEL FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% on reducing balance
Motor vehicles
-
25% on reducing balance
Fixtures, fittings and equipment
-
25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
J & R STEEL FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.



3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 8).

Page 5

 
J & R STEEL FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£



Cost


At 1 November 2023
22,618
49,635
4,732
76,985


Additions
23,390
14,045
1,637
39,072


Disposals
(4,650)
-
-
(4,650)



At 31 October 2024

41,358
63,680
6,369
111,407



Depreciation


At 1 November 2023
10,060
17,812
2,483
30,355


Charge for the year
5,269
8,962
1,334
15,565


Disposals
(2,416)
-
-
(2,416)



At 31 October 2024

12,913
26,774
3,817
43,504



Net book value



At 31 October 2024
28,445
36,906
2,552
67,903



At 31 October 2023
12,558
31,823
2,249
46,630

Page 6

 
J & R STEEL FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
166,780
104,202

Other debtors
57,750
98,629

Prepayments and accrued income
14,413
9,375

238,943
212,206



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
361,745
616,691

361,745
616,691



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
65,885
64,844

Corporation tax
80,809
153,471

Other taxation and social security
-
1,569

Other creditors
5,158
32,848

Accruals and deferred income
12,539
13,750

164,391
266,482


Page 7

 
J & R STEEL FABRICATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
11,788
10,306


Charged to the Statement of comprehensive income
1,888
1,482



At end of year
13,676
11,788

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
13,676
11,788

13,676
11,788


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 Ordinary shares of £1 each
1,000
1,000



10.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £256,800 (2023 - £4,421). Contributions totalling £4 (2023 - £1,215) were payable to the fund at the reporting date and are included in creditors.


11.


Related party transactions

Included within other creditors is an amount of £Nil (2023 - £27,690) due to directors of the company.


12.


Controlling party

The directors are the ultimate controlling parties by virtue of their majority shareholding in the company.

 
Page 8