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REGISTERED NUMBER: 06401616 (England and Wales)















JAY STEEL (MIDLANDS) LIMITED

Unaudited Financial Statements for the Year Ended 30 June 2024






JAY STEEL (MIDLANDS) LIMITED (REGISTERED NUMBER: 06401616)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

JAY STEEL (MIDLANDS) LIMITED

Company Information
for the Year Ended 30 June 2024







DIRECTORS: P J Finch
PJ Finch





SECRETARY: Mrs E Finch





REGISTERED OFFICE: Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB





REGISTERED NUMBER: 06401616 (England and Wales)





ACCOUNTANTS: Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

JAY STEEL (MIDLANDS) LIMITED (REGISTERED NUMBER: 06401616)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,083 9,171

CURRENT ASSETS
Stocks 88,302 126,520
Debtors 5 379,966 516,376
Cash at bank 33,997 41,011
502,265 683,907
CREDITORS
Amounts falling due within one year 6 370,017 484,090
NET CURRENT ASSETS 132,248 199,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,331

208,988

CREDITORS
Amounts falling due after more than one
year

7

(6,877

)

(12,637

)

PROVISIONS FOR LIABILITIES (2,271 ) (2,292 )
NET ASSETS 134,183 194,059

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 133,183 193,059
SHAREHOLDERS' FUNDS 134,183 194,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

JAY STEEL (MIDLANDS) LIMITED (REGISTERED NUMBER: 06401616)

Balance Sheet - continued
30 June 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 18 February 2025 and were signed on its behalf by:





P J Finch - Director


JAY STEEL (MIDLANDS) LIMITED (REGISTERED NUMBER: 06401616)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Jay Steel (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% Straight Line
Motor vehicles - 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.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

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.


JAY STEEL (MIDLANDS) LIMITED (REGISTERED NUMBER: 06401616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 6,301 11,948 34,061 52,310
Additions 3,495 - - 3,495
At 30 June 2024 9,796 11,948 34,061 55,805
DEPRECIATION
At 1 July 2023 5,535 8,829 28,775 43,139
Charge for year 245 685 653 1,583
At 30 June 2024 5,780 9,514 29,428 44,722
NET BOOK VALUE
At 30 June 2024 4,016 2,434 4,633 11,083
At 30 June 2023 766 3,119 5,286 9,171

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 369,037 505,749
Other debtors 10,929 10,627
379,966 516,376

JAY STEEL (MIDLANDS) LIMITED (REGISTERED NUMBER: 06401616)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 5,908 5,908
Preference shares 1 1
Trade creditors 349,279 448,966
Social security and other taxes 12,153 26,067
Other creditors 80 80
Directors' current accounts 451 328
Accrued expenses 2,145 2,740
370,017 484,090

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans - 2-5 years 6,877 12,637

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P J Finch.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Jay Steel (Midlands) Limited


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 Jay Steel (Midlands) Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jay Steel (Midlands) Limited, 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 Jay Steel (Midlands) Limited and state those matters that we have agreed to state to the Board of Directors of Jay Steel (Midlands) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jay Steel (Midlands) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jay Steel (Midlands) Limited 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 profit of Jay Steel (Midlands) Limited. You consider that Jay Steel (Midlands) Limited 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 Jay Steel (Midlands) Limited. 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.






Lancaster Haskins Limited
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB


18 February 2025