J B Motors Cramlington Limited 12528810 true 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is Motor Repairs Garage Digita Accounts Production Advanced 6.30.9574.0 true 12528810 2021-04-01 2022-03-31 12528810 2022-03-31 12528810 bus:OrdinaryShareClass1 2022-03-31 12528810 core:CurrentFinancialInstruments 2022-03-31 12528810 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12528810 core:OtherPropertyPlantEquipment 2022-03-31 12528810 bus:SmallEntities 2021-04-01 2022-03-31 12528810 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 12528810 bus:AbridgedAccounts 2021-04-01 2022-03-31 12528810 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 12528810 bus:RegisteredOffice 2021-04-01 2022-03-31 12528810 bus:Director1 2021-04-01 2022-03-31 12528810 bus:Director2 2021-04-01 2022-03-31 12528810 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 12528810 bus:EntityHasNeverTraded 2021-04-01 2022-03-31 12528810 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 12528810 core:Goodwill 2021-04-01 2022-03-31 12528810 core:OtherPropertyPlantEquipment 2021-04-01 2022-03-31 12528810 core:Vehicles 2021-04-01 2022-03-31 12528810 countries:England 2021-04-01 2022-03-31 12528810 2020-03-20 2021-03-31 12528810 2021-03-31 12528810 bus:OrdinaryShareClass1 2021-03-31 12528810 core:CurrentFinancialInstruments 2021-03-31 12528810 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 12528810 bus:OrdinaryShareClass1 2020-03-20 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12528810

J B Motors Cramlington Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2022

 

J B Motors Cramlington Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

J B Motors Cramlington Limited

Company Information

Directors

Mrs Catherine Batey

Mr John Batey

Registered office

Unit J B1
East Cramlington Industrial Estate
Cramlington
Northumberland
NE23 6XW

Accountants

AMT Business (Northumbria) Ltd
Ground Floor - Lion House
Willowburn Trading Estate
Alnwick
NE66 2PF

 

J B Motors Cramlington Limited

(Registration number: 12528810)
Abridged Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

22,140

-

Tangible assets

5

7,411

-

 

29,551

-

Current assets

 

Stocks

6

42,320

-

Debtors

7

14,223

-

Cash at bank and in hand

 

210,185

200

 

266,728

200

Creditors: Amounts falling due within one year

(167,136)

-

Net current assets

 

99,592

200

Total assets less current liabilities

 

129,143

200

Accruals and deferred income

 

(1,400)

-

Net assets

 

127,743

200

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

127,543

-

Shareholders' funds

 

127,743

200

For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

J B Motors Cramlington Limited

(Registration number: 12528810)
Abridged Balance Sheet as at 31 March 2022

Approved and authorised by the Board on 5 May 2022 and signed on its behalf by:
 

.........................................

Mrs Catherine Batey

Director

 

J B Motors Cramlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit J B1
East Cramlington Industrial Estate
Cramlington
Northumberland
NE23 6XW
England

These financial statements were authorised for issue by the Board on 5 May 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

J B Motors Cramlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% S/L

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% S/L

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

J B Motors Cramlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2021 - 2).

 

J B Motors Cramlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

4

Intangible assets

Total
£

Cost or valuation

Additions acquired separately

24,600

At 31 March 2022

24,600

Amortisation

Amortisation charge

2,460

At 31 March 2022

2,460

Carrying amount

At 31 March 2022

22,140

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

9,882

9,882

At 31 March 2022

9,882

9,882

Depreciation

Charge for the year

2,471

2,471

At 31 March 2022

2,471

2,471

Carrying amount

At 31 March 2022

7,411

7,411

6

Stocks

2022
£

2021
£

Other inventories

42,320

-

7

Debtors

Debtors includes £Nil (2021 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

J B Motors Cramlington Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2022

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

200

200

200

200

         

9

Dividends

Interim dividends paid

   

2022
£

 

2021
£

Interim dividend of £150.00 (2021 - £Nil) per each Ordinary Shares

 

30,000

 

-