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
J.B.SCHOFIELD & SONS LIMITED
Company Information
for the year ended 31 December 2024
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
J.B.SCHOFIELD & SONS LIMITED
Statement of financial position
as at 31 December 2024
Tangible assets
2,145,769
2,116,595
Inventories
836,860
863,433
Cash at bank and in hand
4,305,642
4,053,436
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
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
J.B.SCHOFIELD & SONS LIMITED
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
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 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 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.
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
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
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.
Amounts falling due within one year
Trade debtors
336,259
284,018
Accrued income and prepayments
119,347
55,896
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
61,295
110,215
Taxes and social security
126,344
110,523
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).