Company registration number 00864736 (England and Wales)
J. & P. LEWIS(METALS)LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
J. & P. LEWIS(METALS)LIMITED
COMPANY INFORMATION
Director
Mr M J Lewis
Secretary
Mrs D A Lewis
Company number
00864736
Registered office
Anchor Bridge House
Navigation Close
Oldbury
West Midlands
B69 4FN
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC Bank Plc
PO Box 28
328 High Street
West Bromwich
West Midlands
B70 8DJ
J. & P. LEWIS(METALS)LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
J. & P. LEWIS(METALS)LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF J. & P. LEWIS(METALS)LIMITED FOR THE YEAR ENDED 28 NOVEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J. & P. Lewis(Metals)Limited for the year ended 28 November 2024 which comprise, the balance sheet 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 at https://www.icaew.com/regulation.

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

It is your duty to ensure that J. & P. Lewis(Metals)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 J. & P. Lewis(Metals)Limited. You consider that J. & P. Lewis(Metals)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 J. & P. Lewis(Metals)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.

Ormerod Rutter Limited
15 May 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
J. & P. LEWIS(METALS)LIMITED
BALANCE SHEET
AS AT
28 NOVEMBER 2024
28 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
948,006
982,643
Investments
4
1,605,672
1,471,729
2,553,678
2,454,372
Current assets
Stocks
33,018
26,973
Debtors
5
1,281,635
1,013,414
Investments
6
-
0
50,000
Cash at bank and in hand
390,342
860,790
1,704,995
1,951,177
Creditors: amounts falling due within one year
7
(586,700)
(875,009)
Net current assets
1,118,295
1,076,168
Total assets less current liabilities
3,671,973
3,530,540
Creditors: amounts falling due after more than one year
8
(186,351)
(270,865)
Provisions for liabilities
10
(126,017)
(102,141)
Net assets
3,359,605
3,157,534
Capital and reserves
Called up share capital
11
2,000
2,000
Capital redemption reserve
2,000
2,000
Profit and loss reserves
3,355,605
3,153,534
Total equity
3,359,605
3,157,534

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

J. & P. LEWIS(METALS)LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 NOVEMBER 2024
28 November 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 15 May 2025
Mr M J Lewis
Director
Company registration number 00864736 (England and Wales)
J. & P. LEWIS(METALS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information

J. & P. Lewis(Metals)Limited is a private company limited by shares incorporated in England and Wales. The registered office is Anchor Bridge House, Navigation Close, Oldbury, West Midlands, B69 4FN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings
Nil
Plant and machinery
25% on cost and 25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computer equipment
25% on cost
Motor vehicles
25% on reducing balance

No depreciation is provided on land and buildings. This treatment may be a departure from the requirements of Companies Act 2006 concerning depreciation of fixed assets, however, the company follows a program of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the buildings where necessary in order to maintain them to a high standard. Accordingly, in the opinion of the director, any element of depreciation would be immaterial and no provision has been made, as the residual value would be in excess of cost.

1.4
Fixed asset investments

Investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

J. & P. LEWIS(METALS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Stocks

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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

J. & P. LEWIS(METALS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.9
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
7
3
Tangible fixed assets
Land and buildings
Plant and machinery
Fixtures and fittings
Computer equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 29 November 2023
481,900
2,330,082
2,337
4,218
162,631
2,981,168
Additions
-
0
4,725
-
0
-
0
103,673
108,398
At 28 November 2024
481,900
2,334,807
2,337
4,218
266,304
3,089,566
Depreciation and impairment
At 29 November 2023
-
0
1,881,311
1,270
3,315
112,629
1,998,525
Depreciation charged in the year
-
0
113,375
267
624
28,769
143,035
At 28 November 2024
-
0
1,994,686
1,537
3,939
141,398
2,141,560
Carrying amount
At 28 November 2024
481,900
340,121
800
279
124,906
948,006
At 28 November 2023
481,900
448,771
1,067
903
50,002
982,643
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
1,605,672
1,471,729
J. & P. LEWIS(METALS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 29 November 2023
1,471,729
Additions
229,283
Disposals
(95,340)
At 28 November 2024
1,605,672
Carrying amount
At 28 November 2024
1,605,672
At 28 November 2023
1,471,729
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
484,651
430,196
Amounts owed by group undertakings
237,701
21,244
Other debtors
559,283
561,974
1,281,635
1,013,414
6
Current asset investments
2024
2023
£
£
Other investments
-
0
50,000
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
78,042
124,834
Trade creditors
347,644
434,380
Taxation and social security
42,883
14,996
Other creditors
118,131
300,799
586,700
875,009
J. & P. LEWIS(METALS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
- 8 -
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
-
0
78,042
Other creditors
186,351
192,823
186,351
270,865
9
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
278,434
260,281
Bank loans
78,042
202,876
356,476
463,157
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company and by way of a government-backed guarantee.
10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
126,017
102,141
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2,000
2,000
2,000
2,000
12
Related party transactions

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.

J. & P. LEWIS(METALS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 NOVEMBER 2024
- 9 -
13
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan Account
-
59,612
(59,612)
-
59,612
(59,612)
-
14
Control

Ultimate parent company

The ultimate parent company is Lewis Alloy Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr M J Lewis by virtue of his controlling interest in the ultimate parent company.

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