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REGISTERED NUMBER: SC535972 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

JRS INDUSTRIAL SUPPLIES LTD

JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

JRS INDUSTRIAL SUPPLIES LTD

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr J A Raeburn
Mr J S Raeburn
Mr J G Carbry





REGISTERED OFFICE: Unit 1g Langlands Commercial Park
378 Brandon Street
East Kilbride
Lanarkshire
G75 0RH





REGISTERED NUMBER: SC535972 (Scotland)





ACCOUNTANTS: Signature
Oakfield House
378 Brandon Street
Motherwell
Lanarkshire
ML1 1XA

JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 220,726 187,621

CURRENT ASSETS
Stocks 15,060 -
Debtors 5 62,044 42,514
Cash at bank 51,100 8,312
128,204 50,826
CREDITORS
Amounts falling due within one year 6 413,326 136,261
NET CURRENT LIABILITIES (285,122 ) (85,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(64,396

)

102,186

CREDITORS
Amounts falling due after more than one
year

7

115,835

92,894
NET (LIABILITIES)/ASSETS (180,231 ) 9,292

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (180,331 ) 9,192
SHAREHOLDERS' FUNDS (180,231 ) 9,292

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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.

JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)

Balance Sheet - continued
31 May 2024


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

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 29 January 2025 and were signed on its behalf by:





Mr J A Raeburn - Director


JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

JRS Industrial Supplies Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Basic financial instruments
Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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.


JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)

Notes to the Financial Statements - continued
for the Year Ended 31 May 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 3,400 86,224 3,066
Additions 200 77,742 39,093
Disposals - - -
At 31 May 2024 3,600 163,966 42,159
DEPRECIATION
At 1 June 2023 850 21,556 767
Charge for year 688 21,551 6,005
Eliminated on disposal - - -
At 31 May 2024 1,538 43,107 6,772
NET BOOK VALUE
At 31 May 2024 2,062 120,859 35,387
At 31 May 2023 2,550 64,668 2,299

JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 301,444 30,486 424,620
Additions - 5,776 122,811
Disposals (203,328 ) - (203,328 )
At 31 May 2024 98,116 36,262 344,103
DEPRECIATION
At 1 June 2023 204,791 9,035 236,999
Charge for year 13,673 5,826 47,743
Eliminated on disposal (161,365 ) - (161,365 )
At 31 May 2024 57,099 14,861 123,377
NET BOOK VALUE
At 31 May 2024 41,017 21,401 220,726
At 31 May 2023 96,653 21,451 187,621

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 June 2023 301,444
Disposals (203,328 )
At 31 May 2024 98,116
DEPRECIATION
At 1 June 2023 208,753
Charge for year 9,711
Eliminated on disposal (161,365 )
At 31 May 2024 57,099
NET BOOK VALUE
At 31 May 2024 41,017
At 31 May 2023 92,691

JRS INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: SC535972)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 56,001 35,014
Other debtors 6,043 7,500
62,044 42,514

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,300 3,785
Hire purchase contracts 53,532 51,286
Trade creditors 175,275 6,304
Taxation and social security 10,742 818
Other creditors 168,477 74,068
413,326 136,261

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,901 11,355
Hire purchase contracts 110,934 81,539
115,835 92,894

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 164,466 132,825

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J A Raeburn.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
JRS Industrial Supplies Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JRS Industrial Supplies Ltd for the year ended 31 May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of JRS Industrial Supplies Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JRS Industrial Supplies Ltd and state those matters that we have agreed to state to the Board of Directors of JRS Industrial Supplies Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JRS Industrial Supplies Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of JRS Industrial Supplies Ltd. You consider that JRS Industrial Supplies Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JRS Industrial Supplies Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Signature
Oakfield House
378 Brandon Street
Motherwell
Lanarkshire
ML1 1XA


29 January 2025