Registered number
SC346315
JMG Tech Services Limited
Filleted Accounts
31 December 2021
JMG Tech Services Limited
Registered number: SC346315
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 239 319
Current assets
Cash at bank and in hand 32,264 51,598
Creditors: amounts falling due within one year 4 - (600)
Net current assets 32,264 50,998
Total assets less current liabilities 32,503 51,317
Creditors: amounts falling due after more than one year 5 (288) 13,777
Net assets 32,215 65,094
Capital and reserves
Called up share capital 1 1
Profit and loss account 32,214 65,093
Shareholder's funds 32,215 65,094
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J McGowan
Director
Approved by the board on 15 July 2022
JMG Tech Services Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Plant and machinery 15% on a Reducing Balance basis
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current periods.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 -
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 486
At 31 December 2021 486
Depreciation
At 1 January 2021 167
Charge for the year 80
At 31 December 2021 247
Net book value
At 31 December 2021 239
At 31 December 2020 319
4 Creditors: amounts falling due within one year 2021 2020
£ £
Other creditors - 600
5 Creditors: amounts falling due after one year 2021 2020
£ £
Director's account 288 (13,777)
6 Other information
JMG Tech Services Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
7 Christiegait
Freuchie
Cupar
Fife
KY15 7EG
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