Company Registration No. 07699502 (England and Wales)
RJB Steel Ltd
Unaudited accounts
for the year ended 31 July 2018
RJB Steel Ltd
Unaudited accounts
Contents
RJB Steel Ltd
Company Information
for the year ended 31 July 2018
Directors
Mr R J Barnes
Mr R E Barnes
Company Number
07699502 (England and Wales)
Registered Office
The Estate Office
Dacliffe Industrial Estate
Appledore Road, Woodchurch
KENT
TN26 3TG
United Kingdom
Accountants
KSAS Ltd
The Estate Office, Dacliffe Ind. Estate
Appledore Road
Woodchurch
Kent
TN26 3TG
RJB Steel Ltd
Statement of financial position
as at
31 July 2018
Tangible assets
41,182
48,773
Creditors: amounts falling due within one year
(80,294)
(52,252)
Net current liabilities
(4,131)
(11,971)
Total assets less current liabilities
37,051
36,802
Creditors: amounts falling due after more than one year
-
(4,065)
Provisions for liabilities
Deferred tax
(7,825)
(9,689)
Called up share capital
100
100
Profit and loss account
29,126
22,948
Shareholders' funds
29,226
23,048
For the year ending 31 July 2018 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 10 October 2018.
Mr R E Barnes
Director
Company Registration No. 07699502
RJB Steel Ltd
Notes to the Accounts
for the year ended 31 July 2018
RJB Steel Ltd is a private company, limited by shares, registered in England and Wales, registration number 07699502. The registered office is The Estate Office, Dacliffe Industrial Estate, Appledore Road, Woodchurch, KENT, TN26 3TG, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
RJB Steel Ltd
Notes to the Accounts
for the year ended 31 July 2018
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 August 2017
65,783
35,248
583
1,942
103,556
Additions
3,971
-
-
-
3,971
At 31 July 2018
69,754
35,248
583
1,942
107,527
At 1 August 2017
27,619
26,173
62
929
54,783
Charge for the year
8,910
2,269
130
253
11,562
At 31 July 2018
36,529
28,442
192
1,182
66,345
At 31 July 2018
33,225
6,806
391
760
41,182
At 31 July 2017
38,164
9,075
521
1,013
48,773
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
4,529
6,793
Work in progress
9,000
2,860
Trade debtors
58,724
24,232
Accrued income and prepayments
2,514
2,576
Other debtors
5,925
10,613
RJB Steel Ltd
Notes to the Accounts
for the year ended 31 July 2018
7
Creditors: amounts falling due within one year
2018
2017
Bank loans and overdrafts
10,124
5,493
Obligations under finance leases and hire purchase contracts
4,676
2,836
Trade creditors
38,118
18,779
Taxes and social security
22,505
17,726
Other creditors
480
2,329
8
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
-
4,065
9
Average number of employees
During the year the average number of employees was 5 (2017: 6).