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REGISTERED NUMBER: 10668712 (England and Wales)

















JMF ELECTRICAL CONTRACTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






JMF ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 10668712)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JMF ELECTRICAL CONTRACTORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J Fleming
Mrs H Fleming





SECRETARY: Mrs H Fleming





REGISTERED OFFICE: 71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY





REGISTERED NUMBER: 10668712 (England and Wales)





ACCOUNTANTS: Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

JMF ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 10668712)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,466 5,620

CURRENT ASSETS
Debtors 5 22,048 19,193
Cash at bank 2 2
22,050 19,195
CREDITORS
Amounts falling due within one year 6 40,819 14,885
NET CURRENT (LIABILITIES)/ASSETS (18,769 ) 4,310
TOTAL ASSETS LESS CURRENT
LIABILITIES

(13,303

)

9,930

CREDITORS
Amounts falling due after more than one year 7 37,570 43,205
NET LIABILITIES (50,873 ) (33,275 )

CAPITAL AND RESERVES
Called up share capital 9 200 200
Retained earnings (51,073 ) (33,475 )
SHAREHOLDERS' FUNDS (50,873 ) (33,275 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:




J Fleming - Director



Mrs H Fleming - Director


JMF ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 10668712)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Jmf Electrical Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

JMF ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 10668712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 3,059 12,795 5,092 20,946
Additions - 1,750 116 1,866
At 31 March 2023 3,059 14,545 5,208 22,812
DEPRECIATION
At 1 April 2022 1,478 9,759 4,089 15,326
Charge for year 237 1,051 732 2,020
At 31 March 2023 1,715 10,810 4,821 17,346
NET BOOK VALUE
At 31 March 2023 1,344 3,735 387 5,466
At 31 March 2022 1,581 3,036 1,003 5,620

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,449 -
Amounts recoverable on contract 1,750 9,000
Other debtors 9,201 9,493
VAT - 205
Prepayments 648 495
22,048 19,193

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 27,388 8,607
Trade creditors 27 176
Tax 4,695 3,272
VAT 2,809 -
Directors' loan accounts 3,510 923
Accrued expenses 2,390 1,907
40,819 14,885

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 37,570 43,205

JMF ELECTRICAL CONTRACTORS LIMITED (REGISTERED NUMBER: 10668712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 21,750 3,092
Bank loans 5,638 5,515
27,388 8,607

Amounts falling due between two and five years:
Bank loans - 2-5 years 37,570 43,205

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary 1 200 200

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J Fleming
Balance outstanding at start of year 923 1,848
Amounts advanced 34,000 32,075
Amounts repaid (31,413 ) (33,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,510 923

The loan is unsecured, no interest is payable on the loan and there are no agreed repayment terms.