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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
Page
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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
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JMS Joinery and Building Works Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
127,639 
24,075 
Investment property
95,860 
- 
223,499 
24,075 
Current assets
Inventories
4,950 
4,750 
Debtors
121,186 
128,532 
Cash at bank and in hand
179,253 
195,573 
305,389 
328,855 
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 
Capital and reserves
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
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JMS Joinery and Building Works Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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.
Leased assets
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
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.
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JMS Joinery and Building Works Ltd Notes to the Accounts for the year ended 30 June 2023
Investment property
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 
Depreciation
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 
Net book value
At 30 June 2023
2,350 
123,357 
1,932 
127,639 
At 30 June 2022
3,133 
18,603 
2,339 
24,075 
5
Investment property
2023 
£ 
Additions
95,860 
At 30 June 2023
95,860 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
7,084 
7,717 
Trade debtors
108,231 
111,117 
Other debtors
5,871 
9,698 
121,186 
128,532 
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 
Accruals
2,149 
2,027 
110,581 
114,912 
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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 
£ 
£ 
Bank loans
58,333 
78,333 
Obligations under finance leases and hire purchase contracts
94,504 
5,833 
152,837 
84,166 
9
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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