Company Registration No. NI606257 (Northern Ireland)
JMS Joinery and Building Works Ltd
Unaudited accounts
for the year ended 30 June 2023
JMS Joinery and Building Works Ltd
Unaudited accounts
Contents
JMS Joinery and Building Works Ltd
Company Information
for the year ended 30 June 2023
Director
Jonathan Matthew Shaw
Company Number
NI606257 (Northern Ireland)
Registered Office
15-17 Earlswood Road
Belfast
Down
BT4 3DY
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
JMS Joinery and Building Works Ltd
Statement of financial position
as at 30 June 2023
Tangible assets
127,639
24,075
Investment property
95,860
-
Cash at bank and in hand
179,253
195,573
Creditors: amounts falling due within one year
(110,581)
(114,912)
Net current assets
194,808
213,943
Total assets less current liabilities
418,307
238,018
Creditors: amounts falling due after more than one year
(152,837)
(84,166)
Net assets
265,470
153,852
Called up share capital
100
100
Profit and loss account
265,370
153,752
Shareholders' funds
265,470
153,852
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 October 2023 and were signed on its behalf by
Jonathan Matthew Shaw
Director
Company Registration No. NI606257
JMS Joinery and Building Works Ltd
Notes to the Accounts
for the year ended 30 June 2023
JMS Joinery and Building Works Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI606257. The registered office is 15-17 Earlswood Road, Belfast, Down, BT4 3DY, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Computer equipment
25% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
JMS Joinery and Building Works Ltd
Notes to the Accounts
for the year ended 30 June 2023
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
10,157
53,407
7,495
71,059
Additions
-
114,456
982
115,438
Revaluations
-
(11,250)
-
(11,250)
At 30 June 2023
10,157
156,613
8,477
175,247
At 1 July 2022
7,024
34,804
5,156
46,984
Charge for the year
783
9,702
1,389
11,874
On disposals
-
(11,250)
-
(11,250)
At 30 June 2023
7,807
33,256
6,545
47,608
At 30 June 2023
2,350
123,357
1,932
127,639
At 30 June 2022
3,133
18,603
2,339
24,075
Amounts falling due within one year
Trade debtors
108,231
111,117
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
20,000
20,000
Obligations under finance leases and hire purchase contracts
14,593
2,500
Trade creditors
35,484
44,072
Taxes and social security
17,930
13,432
Other creditors
20,425
32,881
JMS Joinery and Building Works Ltd
Notes to the Accounts
for the year ended 30 June 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
94,504
5,833
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).