Company Registration No. 05777980 (England and Wales)
AJW STEEL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
AJW STEEL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
AJW STEEL SERVICES LIMITED
BALANCE SHEET
AS AT 30 APRIL 2021
30 April 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,404
7,206
Current assets
Debtors
4
12,075
3,978
Cash at bank and in hand
2,398
13,075
14,473
17,053
Creditors: amounts falling due within one year
5
(17,969)
(20,046)
Net current liabilities
(3,496)
(2,993)
Total assets less current liabilities
1,908
4,213
Provisions for liabilities
(900)
(1,200)
Net assets
1,008
3,013
Capital and reserves
Called up share capital
101
101
Profit and loss reserves
907
2,912
Total equity
1,008
3,013
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 30 April 2021 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.
T
he member has 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.
AJW STEEL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2021
30 April 2021
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 10 November 2021
A J Walker
Director
Company Registration No. 05777980
AJW STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
- 3 -
1
Accounting policies
Company information
AJW Steel Services Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
16 The Holmes, Wolverhampton, West Midlands, WV10 6NF.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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 Leasehold
25% reducing balance
Plant and machinery
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
AJW STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
1
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2020 and 30 April 2021
5,000
43,213
48,213
Depreciation and impairment
At 1 May 2020
4,111
36,896
41,007
Depreciation charged in the year
222
1,580
1,802
At 30 April 2021
4,333
38,476
42,809
Carrying amount
At 30 April 2021
667
4,737
5,404
At 30 April 2020
889
6,317
7,206
AJW STEEL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2021
- 5 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
10,250
2,001
Other debtors
1,825
1,977
12,075
3,978
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
3,167
4,570
Other taxation and social security
3,686
6,406
Other creditors
11,116
9,070
17,969
20,046