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Registered number: 06624389
D & J Metals Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06624389
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 367,888 381,365
367,888 381,365
CURRENT ASSETS
Debtors 6 14,960 28,351
Cash at bank and in hand 220,363 233,245
235,323 261,596
Creditors: Amounts Falling Due Within One Year 7 (20,447 ) (30,659 )
NET CURRENT ASSETS (LIABILITIES) 214,876 230,937
TOTAL ASSETS LESS CURRENT LIABILITIES 582,764 612,302
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,703 ) (5,904 )
NET ASSETS 579,061 606,398
CAPITAL AND RESERVES
Called up share capital 10 103 103
Profit and Loss Account 578,958 606,295
SHAREHOLDERS' FUNDS 579,061 606,398
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For the year ending 30 June 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr D Gray
Director
26 March 2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
D & J Metals Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06624389 . The registered office is 3a Quay View Business Park, Barnards Way, Lowestoft, Suffolk, NR32 2HD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.In 2019 an impairment review was carried out and the remaining value was written off.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
Computer Equipment 25% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 600,000
As at 30 June 2024 600,000
Amortisation
As at 1 July 2023 600,000
As at 30 June 2024 600,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 July 2023 318,666 32,073 80,186 31,128
Additions - 2,114 - -
As at 30 June 2024 318,666 34,187 80,186 31,128
...CONTINUED
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Depreciation
As at 1 July 2023 - 27,916 23,768 29,249
Provided during the period - 866 14,104 376
As at 30 June 2024 - 28,782 37,872 29,625
Net Book Value
As at 30 June 2024 318,666 5,405 42,314 1,503
As at 1 July 2023 318,666 4,157 56,418 1,879
Computer Equipment Total
£ £
Cost
As at 1 July 2023 1,814 463,867
Additions - 2,114
As at 30 June 2024 1,814 465,981
Depreciation
As at 1 July 2023 1,569 82,502
Provided during the period 245 15,591
As at 30 June 2024 1,814 98,093
Net Book Value
As at 30 June 2024 - 367,888
As at 1 July 2023 245 381,365
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,429 -
Prepayments and accrued income 7,245 6,005
Corporation tax recoverable - 5,137
VAT - 6,701
Directors' loan accounts 4,286 10,508
14,960 28,351
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 146
Trade creditors 4,092 11,444
Other creditors 5,149 3,087
Taxation and social security 11,206 15,982
20,447 30,659
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8. Secured Creditors
The loans in respect of the hire purchase are secured against the assets to which they relate.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 146
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 146
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
3 Redeemable Shares of £ 1.00 each 3 3
103 103
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Douglas Gray 10,508 7,859 14,082 - 4,286
The above loan is unsecured, interest free and repayable on demand.
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