Company Registration No. 10569225 (England and Wales)
A J Steel Works Ltd
Unaudited accounts
for the year ended 31 January 2022
A J Steel Works Ltd
Unaudited accounts
Contents
A J Steel Works Ltd
Company Information
for the year ended 31 January 2022
Company Number
10569225 (England and Wales)
Registered Office
12A RIPPLESIDE COMMERCIAL ESTATE, RIPPLE
BARKING
IG11 0RJ
ENGLAND
Accountants
Rustrick Accountants Limited
380A New Hythe lane
Larkfield
Maidstone
Kent
ME20 6RZ
A J Steel Works Ltd
Statement of financial position
as at
31 January 2022
Intangible assets
150,000
150,000
Tangible assets
47,509
12,288
Inventories
17,253
56,085
Cash at bank and in hand
340
7,494
Creditors: amounts falling due within one year
(172,990)
(228,067)
Net current liabilities
(99,796)
(104,333)
Total assets less current liabilities
97,713
57,955
Creditors: amounts falling due after more than one year
(60,592)
(45,000)
Called up share capital
1
1
Profit and loss account
37,120
12,954
Shareholders' funds
37,121
12,955
For the year ending 31 January 2022 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 director acknowledges his 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.
The financial statements were approved by the Board and authorised for issue on 28 October 2022 and were signed on its behalf by
Mr A S Jandoo
Director
Company Registration No. 10569225
A J Steel Works Ltd
Notes to the Accounts
for the year ended 31 January 2022
A J Steel Works Ltd is a private company, limited by shares, registered in England and Wales, registration number 10569225. The registered office is 12A RIPPLESIDE COMMERCIAL ESTATE, RIPPLE, BARKING, IG11 0RJ, ENGLAND.
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.
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:
Motor vehicles
Reducing Balance Basis 10% & 20%
Fixtures & fittings
Reducing Balance Basis 20%
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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.
A J Steel Works Ltd
Notes to the Accounts
for the year ended 31 January 2022
4
Intangible fixed assets
Goodwill
At 1 February 2021
150,000
At 31 January 2022
150,000
At 31 January 2022
150,000
At 31 January 2021
150,000
5
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2021
3,500
26,500
30,000
Additions
43,140
-
43,140
Disposals
(3,500)
-
(3,500)
At 31 January 2022
43,140
26,500
69,640
At 1 February 2021
2,066
15,646
17,712
Charge for the year
4,601
2,171
6,772
On disposals
(2,353)
-
(2,353)
At 31 January 2022
4,314
17,817
22,131
At 31 January 2022
38,826
8,683
47,509
At 31 January 2021
1,434
10,854
12,288
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Motor vehicles
39,113
-
Amounts falling due within one year
Trade debtors
47,704
47,095
Accrued income and prepayments
3,200
3,200
Other debtors
4,697
9,860
A J Steel Works Ltd
Notes to the Accounts
for the year ended 31 January 2022
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,000
5,000
Obligations under finance leases and hire purchase contracts
7,736
-
Trade creditors
7,853
56,353
Taxes and social security
8,587
4,052
Other creditors
84,356
94,281
Loans from directors
53,008
67,181
8
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
25,592
-
9
Average number of employees
During the year the average number of employees was 3 (2021: 3).