REGISTERED NUMBER: 03355390 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

J P L STEEL STOCK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J A Boulby

P Gent

SECRETARY:

P Gent

REGISTERED OFFICE:

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

REGISTERED NUMBER:

03355390 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

3,167

-

CURRENT ASSETS

Stocks

5

134,076

175,227

Debtors

6

990,066

1,015,789

Cash in hand

403

360

1,124,545

1,191,376

CREDITORS

Amounts falling due within one year

7

539,815

551,552

NET CURRENT ASSETS

584,730

639,824

TOTAL ASSETS LESS CURRENT LIABILITIES

587,897

639,824

CREDITORS

Amounts falling due after more than one year

8

(5,287

)

(15,662

)

PROVISIONS FOR LIABILITIES

(512

)

-

NET ASSETS

582,098

624,162

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

581,998

624,062

SHAREHOLDERS' FUNDS

582,098

624,162

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

P Gent - Director

J A Boulby - Director

1.	STATUTORY INFORMATION

J P L Steel Stock Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company's directors have confirmed the continuing support of the company's creditors, thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

94,885

Additions

4,000

At 31 December 2024

98,885

DEPRECIATION

At 1 January 2024

94,885

Charge for year

833

At 31 December 2024

95,718

NET BOOK VALUE

At 31 December 2024

3,167

5.

STOCKS

31/12/24

31/12/23

£

£

Stocks

134,076

175,227

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

179,190

194,653

Amounts due from group undertaking

793,321

792,446

Deferred tax asset

-

109

Prepayments and accrued income

17,555

28,581

990,066

1,015,789

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

153,019

151,598

Trade creditors

157,402

168,324

Invoice discounting

148,595

166,978

Tax

45,750

38,756

Social security and other taxes

14,170

15,450

Other creditors

10,055

-

Accrued expenses

10,824

10,446

539,815

551,552

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans - 1-2 years

5,287

10,375

Bank loans - 2-5 years

-

5,287

5,287

15,662

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/24

31/12/23

£

£

Within one year

55,000

55,000

Between one and five years

27,500

82,500

82,500

137,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank overdrafts

142,641

141,478

A Fixed and Floating Charge in favour of HSBC Bank PLC has been registered at Companies House on 26 January 2016.

A Legal Assignment in favour of HSBC Bank PLC has been registered at Companies House on 18 April 2016.

A Fixed and Floating Charge in favour of HSBC Invoice Finance (UK) Limited has been registered at Companies House on 27 October 2016, secured over the company's invoice discounting facility.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/24

31/12/23

value:

£

£

1,000

Ordinary

10p

100

100

12.

RESERVES

Retained

earnings

£

At 1 January 2024

624,062

Profit for the year

58,074

Dividends

(100,138

)

At 31 December 2024

581,998

13.	ULTIMATE CONTROLLING PARTY

The company's ultimate controlling parties are P Gent and J Boulby by way of their shareholding in JPL Steel Stock (Holdings) Limited.