REGISTERED NUMBER: 07573833 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

J & C R WOOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B T Sullivan

M Collins

REGISTERED OFFICE:

66 Clough Road

Hull

HU5 1SR

REGISTERED NUMBER:

07573833 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

30,386

32,892

CURRENT ASSETS

Stocks

110,707

110,144

Debtors

5

144,585

165,123

Cash at bank and in hand

18,456

55,010

273,748

330,277

CREDITORS

Amounts falling due within one year

6

268,241

259,237

NET CURRENT ASSETS

5,507

71,040

TOTAL ASSETS LESS CURRENT LIABILITIES

35,893

103,932

CREDITORS

Amounts falling due after more than one year

7

(3,039

)

(25,643

)

PROVISIONS FOR LIABILITIES

-

(6,250

)

NET ASSETS

32,854

72,039

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

22,854

62,039

SHAREHOLDERS' FUNDS

32,854

72,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 16 December 2025 and were signed on its behalf by:

B T Sullivan - Director

M Collins - Director

1.	STATUTORY INFORMATION

J & CR Wood Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at 66 Clough Road, Hull, HU5 1SR.

The principal activity of the company is the manufacture and sale of steel based products.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

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 - 15% on a reducing balance basis

Office Equipment - 25% on a reducing balance basis

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making, due allowance for obsolete and slow moving items. 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. Stock is calculated on the first in first out basis.

In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

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 years and items that are never taxable or deductible. The Company's liability for the 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 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 the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate 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.

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.

Government grants

Grants receivable which are of a revenue nature are credited to the profit and loss account when the relevant expenditure is incurred.

Grants of a capital nature are credited to the profit and loss account over the expected useful economic lives of the related assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2024

114,151

Additions

4,957

Disposals

(1,034

)

At 31 May 2025

118,074

DEPRECIATION

At 1 June 2024

81,259

Charge for year

7,338

Eliminated on disposal

(909

)

At 31 May 2025

87,688

NET BOOK VALUE

At 31 May 2025

30,386

At 31 May 2024

32,892

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

116,950

151,235

Other debtors

27,635

13,888

144,585

165,123

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

20,000

20,000

Hire purchase contracts (see note 8)

2,292

2,500

Trade creditors

102,415

111,150

Taxation and social security

40,352

26,102

Other creditors

103,182

99,485

268,241

259,237

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

3,039

23,351

Hire purchase contracts (see note 8)

-

2,292

3,039

25,643

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

2,292

2,500

Between one and five years

-

2,292

2,292

4,792

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

2,292

4,792

Invoice discounting creditor

85,566

84,027

87,858

88,819

The invoice discounting creditor is secured by a fixed and floating charge over the company's assets.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the director Ben Sullivan £164 (2024: the company was owed £561). The loan was free from interest and repayable on demand.

At the balance sheet date the company owed the director Michael Collins £1,248 (2024: £1,248). The loan was free from interest and repayable on demand.