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REGISTERED NUMBER: 01044525 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

JMJ Garages (Southern) Limited

JMJ Garages (Southern) Limited (Registered number: 01044525)






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


JMJ Garages (Southern) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J R Morrison-Jones
Mrs S A Morrison-Jones





SECRETARY: Mrs S A Morrison-Jones





REGISTERED OFFICE: 4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX





REGISTERED NUMBER: 01044525 (England and Wales)





ACCOUNTANTS: Bristow Burrell
4 Riverview
Walnut Tree Close
Guildford
Surrey
GU1 4UX

JMJ Garages (Southern) Limited (Registered number: 01044525)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 849 416
Investment property 6 1,250,000 600,000
1,250,849 600,416

CURRENT ASSETS
Investments 7 194,767 192,607
Cash at bank 98,043 36,835
292,810 229,442
CREDITORS
Amounts falling due within one
year

8

90,122

34,455
NET CURRENT ASSETS 202,688 194,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,453,537

795,403

PROVISIONS FOR LIABILITIES 228,325 50,027
NET ASSETS 1,225,212 745,376

CAPITAL AND RESERVES
Called up share capital 9 1,562 1,562
Share premium 164 164
Revaluation reserve 10 836,878 365,176
Retained earnings 386,608 378,474
SHAREHOLDERS' FUNDS 1,225,212 745,376

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





J R Morrison-Jones - Director


JMJ Garages (Southern) Limited (Registered number: 01044525)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

JMJ Garages (Southern) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

The Financial Reporting Standards [FRS] states that all assets with a finite life must be depreciated over their useful economic lives. The directors are of the opinion that the residual value of freehold property will remain at least equal to the valuation shown in the financial statements. On this basis no charge is made in respect of freehold property.

Although the Companies Act requires all fixed assets to be depreciated, the directors consider a departure is necessary in order for the accounts to show a true and fair view. The depreciation that might otherwise have been charged is considered to be immaterial to the accounts as a whole.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

4. EMPLOYEES AND DIRECTORS

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

JMJ Garages (Southern) Limited (Registered number: 01044525)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 - 5,743 5,743
Additions 469 177 646
At 31 March 2023 469 5,920 6,389
DEPRECIATION
At 1 April 2022 - 5,327 5,327
Charge for year 53 160 213
At 31 March 2023 53 5,487 5,540
NET BOOK VALUE
At 31 March 2023 416 433 849
At 31 March 2022 - 416 416

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 600,000
Revaluations 650,000
At 31 March 2023 1,250,000
NET BOOK VALUE
At 31 March 2023 1,250,000
At 31 March 2022 600,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2007 600,000
Valuation in 2023 650,000
1,250,000

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 194,767 192,607

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 21,959 16,842
Other creditors 68,163 17,613
90,122 34,455

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,562 Ordinary £1 1,562 1,562

JMJ Garages (Southern) Limited (Registered number: 01044525)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. RESERVES
Revaluation
reserve
£   
At 1 April 2022 365,176
Revaluation in Year 650,000
Deferred Tax (178,298 )

At 31 March 2023 836,878

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr. J.R. Morrison-Jones by virtue of his 60% interest in the ordinary share capital of the company.