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J M Services (GB) Limited
Registered Number:03333147
For the year ended 31 March 2022
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2022
J M Services (GB) Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
03333147
As at 31 March 2022
J M Services (GB) Limited
Statement of Financial Position
£
£
2021
2022
Notes
Fixed assets
Property, plant and equipment
84,344
92,060
2
Financial assets
7,000
7,000
3
91,344
99,060
Current assets
Trade and other receivables
522,121
443,872
4
681,464
Cash and cash equivalents
718,307
1,162,179
1,203,585
Trade and other payables: amounts falling due within one
year
(180,949)
(186,046)
5
1,022,636
976,133
Net current assets
Total assets less current liabilities
1,067,477
1,121,696
(16,000)
(17,500)
Provisions for liabilities
1,051,477
Net assets
1,104,196
Capital and reserves
Called up share capital
400
400
Retained earnings
1,051,077
1,103,796
1,051,477
1,104,196
Shareholders' funds
For the year ended 31 March 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 of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
03333147
For the year ended 31 March 2022
J M Services (GB) Limited
Statement of Financial Position Continued
Mr J.M. Perry Director
These financial statements were approved and authorised for issue by the Board on 01 September 2022 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2022
J M Services (GB) Limited
Notes to the Financial Statements
Statutory Information
J M Services (GB) Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 03333147.
Registered address:
32 Dowcarr Lane
Woodall
Sheffield
S26 7XN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. Turnover is recognised on the completion of each large contract assignment or small job, in accordance with the contract terms.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
15% Reducing balance
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Income on work in progress contracts is recognised by reference to the valuation of time spent on each contract, at the year end. Profit on work in progress contracts is recognised when the outcome of the contracts can be assessed with reasonable certainty, and is that amount which is estimated to fairly reflect the profit arising up to the year end. Profit on work in progress contracts is reflected in the profit and loss account as the difference between the reported turnover, and the related costs.
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6
For the year ended 31 March 2022
J M Services (GB) Limited
Notes to the Financial Statements Continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the 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 timing differences. 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 future profits.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of
a past event, and that it is probable that an outflow of economic benefits will be required to settle the
obligation and a reliable estimate can be made. Provisions are measured at the present value of expenditure
expected to be required to settle the obligation, taking the risks and uncertainties surrounding the obligation.
2. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
£
£
£
£
Cost or
valuation
At 01 April 2021
309,874
67,679
53,614
188,581
11,105
5,073
-
6,032
Additions
-
(19,006)
-
Disposals
(19,006)
At 31 March 2022
194,613
34,608
72,752
301,973
Provision for depreciation and impairment
At 01 April 2021
217,814
46,098
45,525
126,191
Charge for year
15,439
3,999
1,177
10,263
(15,624)
-
(15,624)
-
On disposal
At 31 March 2022
217,629
50,097
31,078
136,454
At 31 March 2022
Net book value
58,159
3,530
22,655
84,344
At 31 March 2021
62,390
8,089
21,581
92,060
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For the year ended 31 March 2022
J M Services (GB) Limited
Notes to the Financial Statements Continued
3. Investments held as fixed assets
Other investments
Total
At 01 April 2021
7,000
7,000
Cost
£
£
At 31 March 2022
7,000
7,000
At 31 March 2022
Net book value
7,000
7,000
At 01 April 2021
7,000
7,000
4. Trade and other receivables
2021
2022
£
£
Trade debtors
346,485
451,512
Other debtors
97,387
70,609
522,121
443,872
5. Trade and other payables: amounts falling due within one year
2021
2022
£
£
Trade creditors
139,264
86,710
Taxation and social security
41,304
85,978
Other creditors
5,478
8,261
186,046
180,949
6. Related party transactions
The directors are also shareholders of the company. Dividends paid to the directors, as shareholders of the
company, during the year (with the previous year shown in brackets) were as follows: Mr J.M. Perry £90,300
(£91,350); Mr A. Perry £41,600 (£41,800).
7. Average number of persons employed
During the year the average number of employees was 17 (2021 : 17)
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