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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the period |
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1 April 2018 to 30 September 2019 |
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for |
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JAMES BRIDGE STEEL SERVICES LIMITED |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the period |
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1 April 2018 to 30 September 2019 |
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for |
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JAMES BRIDGE STEEL SERVICES LIMITED |
JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
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Contents of the Financial Statements |
for the period 1 April 2018 to 30 September 2019 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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JAMES BRIDGE STEEL SERVICES LIMITED |
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Company Information |
for the period 1 April 2018 to 30 September 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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Accountants: |
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5-6 Greenfield Crescent |
Edgbaston |
Birmingham |
B15 3BE |
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Bankers: |
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33 Old Broad Street |
London Branch |
PO Box 1000 |
BX2 1LB |
JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
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Statement of Financial Position |
30 September 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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Creditors |
Amounts falling due within one year | 6 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 8 |
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Retained earnings | 9 |
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Shareholders' funds |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
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Notes to the Financial Statements |
for the period 1 April 2018 to 30 September 2019 |
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1. | Statutory information |
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James Bridge Steel Services Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any |
incidental costs of acquisition. |
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Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the |
useful economic life of that asset as follows: |
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Plant and machinery | - | 10-15% straight line basis |
Fixtures and fittings | - | 15-20% straight line basis |
Motor vehicles | - | 25% reducing balance basis |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
slow moving items. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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 period end and that are expected to apply to the |
reversal of the timing difference. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of |
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the |
operating result. |
JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
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Notes to the Financial Statements - continued |
for the period 1 April 2018 to 30 September 2019 |
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2. | Accounting policies - continued |
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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. |
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Pension costs |
The company operates a defined pension contribution pension scheme and the pension charge represents the |
amounts payable by the company to the fund in respect of the year. The assets of the scheme are held |
separately from those of the company in an independently administered fund. |
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3. | Employees and directors |
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The average number of employees during the period was
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4. | Tangible fixed assets |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 April 2018 |
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Additions |
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Disposals | ( |
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At 30 September 2019 |
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Depreciation |
At 1 April 2018 |
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Eliminated on disposal |
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At 30 September 2019 |
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Net book value |
At 30 September 2019 |
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At 31 March 2018 |
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5. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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6. | Creditors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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PAYE and NIC |
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VAT | 179,698 | 40,136 |
Other creditors |
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Directors' loan accounts | 8,792 | - |
Accruals and deferred income |
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JAMES BRIDGE STEEL SERVICES LIMITED (REGISTERED NUMBER: 01705763) |
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Notes to the Financial Statements - continued |
for the period 1 April 2018 to 30 September 2019 |
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7. | Leasing agreements |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2019 | 2018 |
£ | £ |
Within one year |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 50,000 | 50,000 |
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9. | Reserves |
Retained |
earnings |
£ |
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At 1 April 2018 |
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Profit for the period |
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Dividends | ( |
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At 30 September 2019 |
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10. | Related party disclosures |
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The company was under the control of Mr J S Klimczak during the period. |
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During the period the company incurred rent charges of £19,250 (2018: £19,250) from James Bridge Pension |
Scheme, a scheme in which Mr J S Klimczak is the majority shareholder. |
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Included in other creditors is £8,792 due to Mr J S Klimczak, a director of the company. |