J & M Tubes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04275005 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2018

for

J & M Tubes Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M B Gower

P B Gower

SECRETARY:

M B Gower

REGISTERED OFFICE:

Unit 31

Central Trading Estate

Cable Street

Wolverhampton

West Midlands

WV2 2RL

REGISTERED NUMBER:

04275005 (England and Wales)

ACCOUNTANTS:

Appleby Mall Limited

Chartered Accountants

86 Tettenhall Road

Wolverhampton

West Midlands

WV1 4TF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,048

3,028

2,048

3,028

CURRENT ASSETS

Stocks

4,850

9,955

Debtors

86,331

88,108

Cash at bank

1,601

18,540

92,782

116,603

CREDITORS

Amounts falling due within one year

42,378

50,553

NET CURRENT ASSETS

50,404

66,050

TOTAL ASSETS LESS CURRENT LIABILITIES

52,452

69,078

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

52,352

68,978

SHAREHOLDERS' FUNDS

52,452

69,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 November 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 6 August 2019 and were signed on its behalf by:

P B Gower - Director

1.	STATUTORY INFORMATION

J & M Tubes Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, has been amortised evenly over

its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any

accumulated amortisation and any accumulated impairment losses.

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 etc

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving

items.

Taxation

Taxation for the year 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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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 year end and that are expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2017 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

and 30 November 2018

140,400

AMORTISATION

At 1 December 2017

and 30 November 2018

140,400

NET BOOK VALUE

At 30 November 2018

-

At 30 November 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

19,690

Additions

625

Disposals

(6,257

)

At 30 November 2018

14,058

DEPRECIATION

At 1 December 2017

16,662

Charge for year

592

Eliminated on disposal

(5,244

)

At 30 November 2018

12,010

NET BOOK VALUE

At 30 November 2018

2,048

At 30 November 2017

3,028

6.	CONTROLLING PARTY

The company is controlled by Mr and Mrs M B Gower who together own 60% of the issued shares.