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REGISTERED NUMBER: NI616328 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

JMK Textiles Limited

JMK Textiles Limited (Registered number: NI616328)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JMK Textiles Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: J McKeown



SECRETARY:



REGISTERED OFFICE: 12a Ulster Street
Lurgan
Craigavon
Co. Armagh
BT67 9AN



REGISTERED NUMBER: NI616328 (Northern Ireland)



ACCOUNTANTS: SMC Accountants Ltd
15 Gilford Road
Portadown
Co. Armagh
BT63 5EF



BANKERS: Santander
Customer Service Centre
Bootle
Liverpool
L30 4GB

JMK Textiles Limited (Registered number: NI616328)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 27,889 31,976
27,889 31,976

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 6 73,120 160,293
Cash at bank 8,147 49,699
96,267 224,992
CREDITORS
Amounts falling due within one year 7 114,689 182,071
NET CURRENT (LIABILITIES)/ASSETS (18,422 ) 42,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,467

74,897

CREDITORS
Amounts falling due after more than one
year

8

(29,437

)

(59,639

)

PROVISIONS FOR LIABILITIES (3,798 ) (4,096 )
NET (LIABILITIES)/ASSETS (23,768 ) 11,162

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (33,768 ) 1,162
SHAREHOLDER FUNDS (23,768 ) 11,162

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JMK Textiles Limited (Registered number: NI616328)

Balance Sheet - continued
31 January 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 May 2023 and were signed by:





J McKeown - Director


JMK Textiles Limited (Registered number: NI616328)

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

1. STATUTORY INFORMATION

JMK Textiles Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

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 etc - 25% on reducing balance, 20% on cost and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

JMK Textiles Limited (Registered number: NI616328)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 22 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 40,000 21,179 61,179
AMORTISATION
At 1 February 2022
and 31 January 2023 40,000 21,179 61,179
NET BOOK VALUE
At 31 January 2023 - - -
At 31 January 2022 - - -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2022 160,749
Additions 3,540
At 31 January 2023 164,289
DEPRECIATION
At 1 February 2022 128,773
Charge for year 7,627
At 31 January 2023 136,400
NET BOOK VALUE
At 31 January 2023 27,889
At 31 January 2022 31,976

JMK Textiles Limited (Registered number: NI616328)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 44,661 94,603
Other debtors 28,459 65,690
73,120 160,293

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts - 4,228
Trade creditors 8,106 29,281
Taxation and social security 70,983 99,794
Other creditors 35,600 48,768
114,689 182,071

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Other creditors 29,437 59,639