Silverfin false 31/01/2023 01/02/2022 31/01/2023 Jeremy Alan De Maid 21/01/2021 Jonathan Mark De Maid 21/01/2021 Scott Mcdonald 21/01/2021 Richard Piddock 21/01/2021 23 October 2023 The principal activity of the Company during the financial period was the provision of estate agency services. 13151177 2023-01-31 13151177 bus:Director1 2023-01-31 13151177 bus:Director2 2023-01-31 13151177 bus:Director3 2023-01-31 13151177 bus:Director4 2023-01-31 13151177 2022-01-31 13151177 core:CurrentFinancialInstruments 2023-01-31 13151177 core:CurrentFinancialInstruments 2022-01-31 13151177 core:ShareCapital 2023-01-31 13151177 core:ShareCapital 2022-01-31 13151177 core:RetainedEarningsAccumulatedLosses 2023-01-31 13151177 core:RetainedEarningsAccumulatedLosses 2022-01-31 13151177 core:LandBuildings 2022-01-31 13151177 core:OtherPropertyPlantEquipment 2022-01-31 13151177 core:LandBuildings 2023-01-31 13151177 core:OtherPropertyPlantEquipment 2023-01-31 13151177 2021-01-20 13151177 2022-02-01 2023-01-31 13151177 bus:FullAccounts 2022-02-01 2023-01-31 13151177 bus:SmallEntities 2022-02-01 2023-01-31 13151177 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 13151177 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 13151177 bus:Director1 2022-02-01 2023-01-31 13151177 bus:Director2 2022-02-01 2023-01-31 13151177 bus:Director3 2022-02-01 2023-01-31 13151177 bus:Director4 2022-02-01 2023-01-31 13151177 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 13151177 2021-01-21 2022-01-31 13151177 core:LandBuildings 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Company No: 13151177 (England and Wales)

JDM (ELTHAM) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2023
Pages for filing with the registrar

JDM (ELTHAM) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2023

Contents

JDM (ELTHAM) LIMITED

BALANCE SHEET

As at 31 January 2023
JDM (ELTHAM) LIMITED

BALANCE SHEET (continued)

As at 31 January 2023
Note 31.01.2023 31.01.2022
£ £
Fixed assets
Tangible assets 4 23,134 26,411
23,134 26,411
Current assets
Debtors 5 2,510 3,639
Cash at bank and in hand 14,875 4,061
17,385 7,700
Creditors: amounts falling due within one year 6 ( 142,547) ( 80,037)
Net current liabilities (125,162) (72,337)
Total assets less current liabilities (102,028) (45,926)
Provision for liabilities 7 ( 423) ( 744)
Net liabilities ( 102,451) ( 46,670)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 102,551 ) ( 46,770 )
Total shareholders' deficit ( 102,451) ( 46,670)

For the financial year ending 31 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of JDM (Eltham) Limited (registered number: 13151177) were approved and authorised for issue by the Board of Directors on 23 October 2023. They were signed on its behalf by:

Scott Mcdonald
Director
JDM (ELTHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
JDM (ELTHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2023
1. Accounting policies

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 periods presented, unless otherwise stated.

General information and basis of accounting

JDM (Eltham) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
41 High Street
Chislehurst
BR7 5AE
United Kingdom

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' FRS 102, and with the Companies Act 2006.

These 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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover

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.

Taxation

Current tax
The tax expense for the period comprises of current and deferred corporation 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 corporation 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.

Deferred tax
Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet position 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.

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. 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 transaction.

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 and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

Year ended
31.01.2023
Period from
21.01.2021 to
31.01.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 2

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 February 2022 25,250 3,760 29,010
At 31 January 2023 25,250 3,760 29,010
Accumulated depreciation
At 01 February 2022 1,816 783 2,599
Charge for the financial year 2,525 752 3,277
At 31 January 2023 4,341 1,535 5,876
Net book value
At 31 January 2023 20,909 2,225 23,134
At 31 January 2022 23,434 2,977 26,411

5. Debtors

31.01.2023 31.01.2022
£ £
Other debtors 2,510 3,639

6. Creditors: amounts falling due within one year

31.01.2023 31.01.2022
£ £
Trade creditors 25,466 3,606
Other taxation and social security 2,387 955
Other creditors 114,694 75,476
142,547 80,037

7. Deferred tax

31.01.2023 31.01.2022
£ £
At the beginning of financial year/period ( 744) 0
Credited/(charged) to the Profit and Loss Account 321 ( 744)
At the end of financial year/period ( 423) ( 744)

8. Financial commitments

Commitments

The business has other financial commitments not disclosed on the balance sheet in relation to the business premises totalling £117,600 (2022: £132,300).