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Company Registration No. 00793335 (England and Wales)
J.B.SCHOFIELD & SONS LIMITED Unaudited accounts for the year ended 31 December 2024
J.B.SCHOFIELD & SONS LIMITED Unaudited accounts Contents
Page
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J.B.SCHOFIELD & SONS LIMITED Company Information for the year ended 31 December 2024
Director
R M Schofield
Secretary
R M Schofield
Company Number
00793335 (England and Wales)
Registered Office
8 GREENHEAD LINTHWAITE HUDDERSFIELD HD7 5TS
Accountants
JOHN TURNER, CHARTERED ACCOUNTANT 104 PENISTONE ROAD KIRKBURTON HUDDERSFIELD WEST YORKSHIRE HD8 0TA
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J.B.SCHOFIELD & SONS LIMITED Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,145,769 
2,116,595 
Current assets
Inventories
836,860 
863,433 
Debtors
455,606 
339,914 
Cash at bank and in hand
4,305,642 
4,053,436 
5,598,108 
5,256,783 
Creditors: amounts falling due within one year
(218,107)
(244,186)
Net current assets
5,380,001 
5,012,597 
Total assets less current liabilities
7,525,770 
7,129,192 
Provisions for liabilities
Deferred tax
(368,732)
(355,297)
Net assets
7,157,038 
6,773,895 
Capital and reserves
Called up share capital
668 
668 
Capital redemption reserve
334 
334 
Profit and loss account
7,156,036 
6,772,893 
Shareholders' funds
7,157,038 
6,773,895 
For the year ending 31 December 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 director acknowledges his 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 and authorised for issue on 14 March 2025 and were signed on its behalf by
R M Schofield Director Company Registration No. 00793335
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J.B.SCHOFIELD & SONS LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
J.B.SCHOFIELD & SONS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 00793335. The registered office is 8 GREENHEAD, LINTHWAITE, HUDDERSFIELD, HD7 5TS.
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.
Presentation currency
The accounts are presented in £ sterling.
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 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:
Land & buildings
0% per annum
Plant & machinery
20% per annum
Motor vehicles
25% per annum
Fixtures & fittings
20% per annum
Computer equipment
20% per annum
Other tangible fixed assets
5% per annum
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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J.B.SCHOFIELD & SONS LIMITED Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
725,263 
2,559,582 
482,108 
- 
42,524 
3,809,477 
Additions
- 
391,389 
49,090 
1,577 
- 
442,056 
Disposals
- 
(77,076)
(63,298)
- 
- 
(140,374)
At 31 December 2024
725,263 
2,873,895 
467,900 
1,577 
42,524 
4,111,159 
Depreciation
At 1 January 2024
53,919 
1,203,170 
397,406 
- 
38,387 
1,692,882 
Charge for the year
504 
344,316 
31,094 
315 
1,019 
377,248 
On disposals
- 
(50,857)
(53,883)
- 
- 
(104,740)
At 31 December 2024
54,423 
1,496,629 
374,617 
315 
39,406 
1,965,390 
Net book value
At 31 December 2024
670,840 
1,377,266 
93,283 
1,262 
3,118 
2,145,769 
At 31 December 2023
671,344 
1,356,412 
84,702 
- 
4,137 
2,116,595 
The assets of the company have not been re-valued in the accounts. The directors have considered their value, and are satisfied that their aggregate value as at 31 December 2024 was not less than their net book value shown in the accounts.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
336,259 
284,018 
Accrued income and prepayments
119,347 
55,896 
455,606 
339,914 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
30,468 
23,448 
Trade creditors
61,295 
110,215 
Taxes and social security
126,344 
110,523 
218,107 
244,186 
7
Transactions with related parties
Mr R M Schofield is a director of Schofield Reclamation Limited, to whom goods and services to the value of £23,000 (2023 £22,000) were sold during the year.
8
Average number of employees
During the year the average number of employees was 8 (2023: 8).
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