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REGISTERED NUMBER: SC812387 (Scotland)















NJ STELOR LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024






NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024




Page

Company Information 1

Group Strategic Report 2 to 3

Report of the Directors 4 to 5

Report of the Independent Auditors 6 to 9

Consolidated Income Statement 10

Consolidated Other Comprehensive Income 11

Consolidated Balance Sheet 12

Company Balance Sheet 13

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Cash Flow Statement 16

Notes to the Consolidated Cash Flow Statement 17

Notes to the Consolidated Financial Statements 18 to 28


NJ STELOR LIMITED

COMPANY INFORMATION
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024







DIRECTORS: Neil Stewart
Jodie Dawn Taylor



REGISTERED OFFICE: 40 North Ellen Street
Dundee
DD3 7DH



REGISTERED NUMBER: SC812387 (Scotland)



AUDITORS: Azets Audit Services
Chartered Accountants
Statutory Auditor
Titanium 1
King's Inch Place
Renfrew
PA4 8WF



BANKERS: Royal Bank of Scotland
3 High Street
Dundee
DD1 1SX

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

GROUP STRATEGIC REPORT
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

The directors present their strategic report of the company and the group for the period 3 June 2024 to 31 October 2024.

REVIEW OF BUSINESS
The directors consider turnover, gross profit margin and profit before tax to be the key performance indicators of the group's strategic operational effectiveness.

The results for the year and financial position of the group are as shown in the annexed financial statements.

The financial highlights are as follows:
2024
£
Turnover 6,942,001
Gross Profit % 36%
Profit/ (Loss) before tax 1,175,267

The net assets of the group were £1,057,974 at 31 October, 2024.

The group maintains the highest levels of service, safety and quality which in itself has contributed to a high level of repeat business from valued clients.

PRINCIPAL RISKS AND UNCERTAINTIES
The group faces a number of business risks and uncertainties due to difficult trading conditions and competition in the market. In view of this, the directors look carefully at the risks and uncertainties facing the business.

Commercial risk
At present there is an increased level of macroeconomic uncertainty, including sustained interest rates, cost and wage inflation. This impact upon customer demand and a rise in our own operational cost basis therefore the directors actively monitor the situation and have contingency measures in place to obtain the best possible prices from suppliers. In addition, the group has a loyal customer base which somewhat reduces its exposure to a temporary downturn in trade and local consumption.

Liquidity and credit risk
In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments the group uses a mixture of long-term and short-term finance. Principal financial assets includes bank balances, cash, work in progress, trade and other receivables.

The group's credit risk is primarily attributable to its debtors, retention debtors, and work in progress balances with the amounts shown in the accounts net of any provisions for doubtful receivables. The group aims to mitigate credit risk by continuing to be selective regarding which clients it trades with and to what level and extent credit terms are made available. Regular credit checks on clients are carried out.

Compliance with regulations
As a group we work to comply with all relevant legislation including health & safety and employment law. We have processes in place to ensure compliance across the business with regular reporting to the board on these matters.

FINANCIAL INSTRUMENTS
The group's principal financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose of these instruments is to finance the group's operations.

Trade debtors are managed in respect of credit and cashflow risk by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

FUTURE DEVELOPMENTS
The group will continue to operate on a similar basis to the previous year.


NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

GROUP STRATEGIC REPORT
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

KEY PERFORMANCE INDICATORS
Key performance indicators are monitored on a regular basis and include, order book, contract margin's and net assets.

ON BEHALF OF THE BOARD:





Neil Stewart - Director


6 June 2025

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

REPORT OF THE DIRECTORS
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

The directors present their report with the financial statements of the company and the group for the period 3 June 2024 to 31 October 2024.

INCORPORATION
The group was incorporated on 3 June 2024 and commenced trading on the same date.

PRINCIPAL ACTIVITY
The principal activity of the group in the period under review was that of property maintenance.

DIVIDENDS
No dividends will be distributed for the period ended 31 October 2024.

DIRECTORS
The directors who have held office during the period from 3 June 2024 to the date of this report are as follows:

Neil Stewart - appointed 3 June 2024
Jodie Dawn Taylor - appointed 3 June 2024

Both the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

REPORT OF THE DIRECTORS
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024


AUDITORS
The auditors, Azets Audit Services, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:




Neil Stewart - Director


6 June 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NJ STELOR LIMITED

Opinion
We have audited the financial statements of NJ Stelor Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 October 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2024 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NJ STELOR LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NJ STELOR LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the company through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
NJ STELOR LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Alex Webb BAcc FCCA (Senior Statutory Auditor)
for and on behalf of Azets Audit Services
Chartered Accountants
Statutory Auditor
Titanium 1
King's Inch Place
Renfrew
PA4 8WF

6 June 2025

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

CONSOLIDATED
INCOME STATEMENT
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

Notes £   

TURNOVER 3 6,942,001

Cost of sales (4,435,792 )
GROSS PROFIT 2,506,209

Administrative expenses (1,232,917 )
OPERATING PROFIT 1,273,292

Interest receivable and similar income 3,135
1,276,427

Interest payable and similar expenses 5 (101,160 )
PROFIT BEFORE TAXATION 6 1,175,267

Tax on profit 7 (117,393 )
PROFIT FOR THE FINANCIAL PERIOD 1,057,874
Profit attributable to:
Owners of the parent 1,057,874

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

Notes £   

PROFIT FOR THE PERIOD 1,057,874


OTHER COMPREHENSIVE INCOME -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

1,057,874

Total comprehensive income attributable to:
Owners of the parent 1,057,874

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

CONSOLIDATED BALANCE SHEET
31 OCTOBER 2024

Notes £    £   
FIXED ASSETS
Intangible assets 9 4,344,139
Tangible assets 10 584,584
Investments 11 -
4,928,723

CURRENT ASSETS
Stocks 12 53,040
Debtors 13 2,336,970
Cash at bank and in hand 552,618
2,942,628
CREDITORS
Amounts falling due within one year 14 2,796,688
NET CURRENT ASSETS 145,940
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,074,663

CREDITORS
Amounts falling due after more than one
year

15

(3,874,561

)

PROVISIONS FOR LIABILITIES 20 (142,128 )
NET ASSETS 1,057,974

CAPITAL AND RESERVES
Called up share capital 21 100
Retained earnings 22 1,057,874
SHAREHOLDERS' FUNDS 1,057,974

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Neil Stewart - Director


NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

COMPANY BALANCE SHEET
31 OCTOBER 2024

Notes £    £   
FIXED ASSETS
Intangible assets 9 -
Tangible assets 10 -
Investments 11 4,973,130
4,973,130

CURRENT ASSETS
Debtors 13 100

CREDITORS
Amounts falling due within one year 14 1,350,856
NET CURRENT LIABILITIES (1,350,756 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,622,374

CREDITORS
Amounts falling due after more than one
year

15

3,710,181
NET LIABILITIES (87,807 )

CAPITAL AND RESERVES
Called up share capital 21 100
Retained earnings 22 (87,907 )
SHAREHOLDERS' FUNDS (87,807 )

Company's loss for the financial year (87,907 )

The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by:





Neil Stewart - Director


NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 100 - 100
Total comprehensive income - 1,057,874 1,057,874
Balance at 31 October 2024 100 1,057,874 1,057,974

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 100 - 100
Total comprehensive income - (87,907 ) (87,907 )
Balance at 31 October 2024 100 (87,907 ) (87,807 )

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

Notes £   
Cash flows from operating activities
Cash generated from operations 1 4,750,108
Interest paid (87,907 )
Interest element of hire purchase payments
paid

(13,253

)
Tax paid 152,184
Net cash from operating activities 4,801,132

Cash flows from investing activities
Purchase of intangible fixed assets (4,582,828 )
Sale of tangible fixed assets 3,694
Interest received 3,135
Net cash from investing activities (4,575,999 )

Cash flows from financing activities
Capital repayments in year 285,626
Share issue 100
Net cash from financing activities 285,726

Increase in cash and cash equivalents 510,859
Cash and cash equivalents at beginning of
period

2

-

Cash and cash equivalents at end of
period

2

510,859

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

£   
Profit before taxation 1,175,267
Depreciation charges 320,708
Profit on disposal of fixed assets (3,694 )
Finance costs 101,160
Finance income (3,135 )
1,590,306
Increase in stocks (53,040 )
Increase in trade and other debtors (2,336,870 )
Increase in trade and other creditors 5,549,712
Cash generated from operations 4,750,108

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 October 2024
31/10/24 3/6/24
£    £   
Cash and cash equivalents 552,618 -
Bank overdrafts (41,759 ) -
510,859 -


3. ANALYSIS OF CHANGES IN NET DEBT

At 3/6/24 Cash flow At 31/10/24
£    £    £   
Net cash
Cash at bank and in hand - 552,618 552,618
Bank overdrafts - (41,759 ) (41,759 )
- 510,859 510,859
Debt
Finance leases - (285,626 ) (285,626 )
- (285,626 ) (285,626 )
Total - 225,233 225,233

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

1. STATUTORY INFORMATION

NJ Stelor Limited is a private company, limited by shares, registered in Scotland. The Company’s registered number is SC812387 and registered office address is 40 North Ellen Street, Dundee, Scotland, DD3 7DH.

The nature of the group's operations and its principal activities is that of property maintenance.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the group. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Basis of consolidation
The accounts include the consolidated results of the company and its subsidiaries to 31 October each year. The purchase method has been adopted in recognising the acquisition of group companies.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of eight years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Provisions
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable, and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

£   
Rendering of services 6,942,001
6,942,001

An analysis of turnover by geographical market is given below:

£   
United Kingdom 6,942,001
6,942,001

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

4. EMPLOYEES AND DIRECTORS
£   
Wages and salaries 2,007,313
Social security costs 23,624
Other pension costs 52,829
2,083,766

The average number of employees during the period was as follows:

Employees 114

The average number of employees by undertakings that were proportionately consolidated during the period was 114 .

£   
Directors' remuneration 82,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
£   
Interest payable 87,907
Hire purchase 13,253
101,160

6. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

£   
Hire of plant and machinery 3,881
Other operating leases 11,840
Depreciation - owned assets 82,019
Profit on disposal of fixed assets (3,694 )
Goodwill amortisation 238,689
Auditors' remuneration 18,500

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
£   
Current tax:
UK corporation tax 108,715
Adjustment in respect of previous periods (10 )
Total current tax 108,705

Deferred tax 8,688
Tax on profit 117,393

UK corporation tax has been charged at 25 % .

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

£   
Profit before tax 1,175,267
Profit multiplied by the standard rate of corporation tax in the UK of 25 % 293,817

Effects of:
Expenses not deductible for tax purposes (176,414 )
Prior year adjustment (10 )
Total tax charge 117,393

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions 4,582,828
At 31 October 2024 4,582,828
AMORTISATION
Amortisation for period 238,689
At 31 October 2024 238,689
NET BOOK VALUE
At 31 October 2024 4,344,139

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

10. TANGIBLE FIXED ASSETS

Group
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
Reclassification/transfer 44,334 84,362 992,745 64,293 1,185,734
At 31 October 2024 44,334 84,362 992,745 64,293 1,185,734
DEPRECIATION
Charge for period 3,131 5,227 69,064 4,597 82,019
Reclassification/transfer 22,600 44,927 404,687 46,917 519,131
At 31 October 2024 25,731 50,154 473,751 51,514 601,150
NET BOOK VALUE
At 31 October 2024 18,603 34,208 518,994 12,779 584,584

The net book value of tangible fixed assets includes £343,518 in respect of assets held under hire purchase contracts.

11. FIXED ASSET INVESTMENTS

Company
Unlisted
investments
£   
COST
Additions 4,973,130
At 31 October 2024 4,973,130
NET BOOK VALUE
At 31 October 2024 4,973,130

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

SJW Scotland Ltd
Registered office: Utilities House, 40 North Ellen Street, Dundee, DD3 7DH
Nature of business: Management company
%
Class of shares: holding
Ordinary 100.00
31/10/24
£   
Loss for the period (5,610 )

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

11. FIXED ASSET INVESTMENTS - continued

Quality Assured Property Maintenance Limited
Registered office: Utilities House, 40 North Ellen Street, Dundee, DD3 7DH
Nature of business: Property maintenance
%
Class of shares: holding
Ordinary 100.00
31/10/24
£   
Aggregate capital and reserves 1,774,772
Profit for the period 843,159


12. STOCKS


Group
£   
Stocks 53,040

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£    £   
Trade debtors 1,171,766 -
Other debtors 15,856 -
Directors' current accounts 100 100
Prepayments and accrued income 1,149,248 -
2,336,970 100

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£    £   
Bank loans and overdrafts (see note 16) 41,759 -
Hire purchase contracts (see note 17) 121,246 -
Trade creditors 1,096,551 -
Amounts owed to group undertakings - 960,763
Corporation tax 260,889 -
Social security and other taxes 130,762 -
VAT 530,599 -
Other creditors 93,586 -
Deferred consideration 390,093 390,093
Accrued expenses 131,203 -
2,796,688 1,350,856

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR


Group Company
£    £   
Hire purchase contracts (see note 17) 164,380 -
Deferred Consideration > 1 year 3,710,181 3,710,181
3,874,561 3,710,181

16. LOANS

An analysis of the maturity of loans is given below:


Group
£   
Amounts falling due within one year or on demand:
Bank overdrafts 41,759

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 121,246
Between one and five years 164,380
285,626

Group
Non- cancellable operating leases
£   
Within one year 184,828
Between one and five years 233,119
417,947

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

18. SECURED DEBTS

The following secured debts are included within creditors:


Group
£   
Hire purchase contracts 285,626

Hire purchase creditors are secured over the assets to which they relate.

19. FINANCIAL INSTRUMENTS

The carrying amount for each category of financial instrument is as follows:

2024

Financial assets
Financial assets that are debt instruments measured at amortised cost 2,336,970
Cash and cash equivalents 552,618
2,889,588
Financial liabilities
Financial liabilities measured at amortised cost 6,671,249

20. PROVISIONS FOR LIABILITIES


Group
£   
Deferred tax 142,128

Group
Deferred
tax
£   
Provided during period 142,128
Balance at 31 October 2024 142,128

Deferred taxation provided for at 25% in the financial statements is set out below:

2024
£

Accelerated capital allowances 145,716
Other timing differences (3,588 )
142,128

NJ STELOR LIMITED (REGISTERED NUMBER: SC812387)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE PERIOD 3 JUNE 2024 TO 31 OCTOBER 2024

21. CALLED UP SHARE CAPITAL

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

22. RESERVES

Group
Retained
earnings
£   

Profit for the period 1,057,874
At 31 October 2024 1,057,874

Company
Retained
earnings
£   

Deficit for the period (87,907 )
At 31 October 2024 (87,907 )

Retained earnings
Retained earnings represents cumulative profits or loss, net of dividends paid.

23. PENSION COMMITMENTS

The group operates defined contribution retirement schemes for all qualifying staff. The total expense charges to the profit and loss in the period to 31 October 2024 amounted to £52,829. The amount owed by the group at 31 October 2024 is £26,736.

24. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in debtors is a loan to the directors amounting to £100.

25. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

26. ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no controlling party.