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COMPANY REGISTRATION NUMBER: 3207909
JKM HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2021
JKM HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
JKM HOLDINGS LIMITED
BALANCE SHEET
31 December 2021
2021
2020
Note
£
£
Fixed assets
Tangible assets
4
474,609
475,146
Current assets
Debtors
5
207
1,588
Cash at bank and in hand
5,703
9,595
------------
------------
5,910
11,183
Creditors: amounts falling due within one year
6
( 487,843)
( 476,582)
------------
------------
Net current liabilities
( 481,933)
( 465,399)
------------
------------
Total assets less current liabilities
( 7,324)
9,747
------------
------------
Net (liabilities)/assets
( 7,324)
9,747
------------
------------
Capital and reserves
Called up share capital
7
2
2
Profit and loss account
( 7,326)
9,745
------------
------------
Shareholders (deficit)/funds
( 7,324)
9,747
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 10 August 2022 , and are signed on behalf of the board by:
J K Mather J L Mather
Director Director
Company registration number: 3207909
JKM HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Willow Bank, 1 Halifax Road, Edgerton, Huddersfield, HD3 3AJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable in respect of services provided in the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initally recorded at cost and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and equipment
-
25% straight line
Motor vehicles
-
25% straight line
In the period of acquisition tangible fixed assets are depreciated from 1 January. Investment properties FRS102 requires that properties held for investment be included in the balance sheet at fair value in accordance with section 16 of FRS 102. The directors consider that to comply with this requirement would involve unjustifiable expense and investment properties are continuing to be stated at cost.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Tangible assets
Land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2021
474,348
5,596
3,195
483,139
Additions
261
261
------------
------------
------------
------------
At 31 December 2021
474,609
5,596
3,195
483,400
------------
------------
------------
------------
Depreciation
At 1 January 2021
5,596
2,397
7,993
Charge for the year
798
798
------------
------------
------------
------------
At 31 December 2021
5,596
3,195
8,791
------------
------------
------------
------------
Carrying amount
At 31 December 2021
474,609
474,609
------------
------------
------------
------------
At 31 December 2020
474,348
798
475,146
------------
------------
------------
------------
5. Debtors
2021
2020
£
£
Trade debtors
1,391
Prepayments and accrued income
207
197
------------
------------
207
1,588
------------
------------
6. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
1,291
Accruals and deferred income
10,280
10,280
Directors' loan account
476,272
466,302
------------
------------
487,843
476,582
------------
------------
7. Called up share capital
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
------------
------------
------------
------------
8. Related party transactions
The directors' loan account of £476,272 included in creditors (2020: £466,302) is unsecured and repayable on demand. Interest has been charged at a commercial rate from 1 April 2017. The interest charge for the year was £12,000 (2020: £12,000). The company is controlled by the directors.