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REGISTERED NUMBER: SC484042 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

FOR

JOMAR PAINTING LTD

JOMAR PAINTING LTD (REGISTERED NUMBER: SC484042)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOMAR PAINTING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2021







DIRECTORS: Iain David Geddes
Lauren Ann Geddes



SECRETARY: Lauren Ann Geddes



REGISTERED OFFICE: Flat 1/1
1080 Cathcart Road
Mount Florida
Glasgow
G42 9XW



REGISTERED NUMBER: SC484042 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
3rd Floor
St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH



BANKERS: Barclays Bank
Leicester
LE87 2BB

JOMAR PAINTING LTD (REGISTERED NUMBER: SC484042)

BALANCE SHEET
31 AUGUST 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 552 649
552 649

CURRENT ASSETS
Debtors 6 2,548 8,847
Cash at bank 21,780 2,179
24,328 11,026
CREDITORS
Amounts falling due within one year 7 23,948 26,316
NET CURRENT ASSETS/(LIABILITIES) 380 (15,290 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

932

(14,641

)

PROVISIONS FOR LIABILITIES 8 105 123
NET ASSETS/(LIABILITIES) 827 (14,764 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 727 (14,864 )
SHAREHOLDERS' FUNDS 827 (14,764 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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.

JOMAR PAINTING LTD (REGISTERED NUMBER: SC484042)

BALANCE SHEET - continued
31 AUGUST 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 15 August 2022 and were signed on its behalf by:





Lauren Ann Geddes - Director


JOMAR PAINTING LTD (REGISTERED NUMBER: SC484042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021

1. STATUTORY INFORMATION

Jomar Painting Ltd is a private company, limited by shares , registered in Scotland. 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 2014, is being amortised evenly over its estimated useful life of four 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.
Fixtures and equipment - 15% on reducing balance

Government grants
Government grants received in respect of expenditure charged to the profit and loss account during the year have been included in profit and loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

JOMAR PAINTING LTD (REGISTERED NUMBER: SC484042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2020
and 31 August 2021 10,000
AMORTISATION
At 1 September 2020
and 31 August 2021 10,000
NET BOOK VALUE
At 31 August 2021 -
At 31 August 2020 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
equipment
£   
COST
At 1 September 2020
and 31 August 2021 1,552
DEPRECIATION
At 1 September 2020 903
Charge for year 97
At 31 August 2021 1,000
NET BOOK VALUE
At 31 August 2021 552
At 31 August 2020 649

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Directors' current accounts - 6,299
Corporation Tax recoverable 2,048 2,048
Prepayments and accrued income 500 500
2,548 8,847

JOMAR PAINTING LTD (REGISTERED NUMBER: SC484042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Current Corporation Tax 18,326 17,280
Directors' current accounts 86 -
Accruals and deferred income 4,508 3,497
Value Added Tax payable 1,028 5,539
23,948 26,316

8. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 105 123

Deferred
tax
£   
Balance at 1 September 2020 123
Released to profit and loss (18 )
Balance at 31 August 2021 105

9. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
75 Ordinary £1 75 75
25 Ordinary 'A' £1 25 25
100 100

10. RESERVES
Retained
earnings
£   

At 1 September 2020 (14,864 )
Profit for the year 49,091
Dividends (33,500 )
At 31 August 2021 727

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Iain David Geddes.