Registered number
12523781
JJM Stock Ltd
Unaudited Filleted Accounts
31 March 2023
JJM Stock Ltd
Registered number: 12523781
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 860 1,045
Investments 4 980,000 613,223
980,860 614,268
Current assets
Cash at bank and in hand 45,724 118,700
Creditors: amounts falling due within one year 5 (254,693) (260,492)
Net current liabilities (208,969) (141,792)
Total assets less current liabilities 771,891 472,476
Creditors: amounts falling due after more than one year 6 (666,644) (443,353)
Provisions for liabilities (12,600) -
Net assets 92,647 29,123
Capital and reserves
Called up share capital 100 100
Profit and loss account 92,547 29,023
Shareholder's funds 92,647 29,123
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J J Mitchell
Director
Approved by the board on 7 November 2023
JJM Stock Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Rent is recognised on an accruals basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers 33% on a straight line basis
Fixtures, fittings and office equipment 15% on a straight line basis
Investment properties
Investment properties are revalued annually by the director. The revaluation surplus / deficit is credited / charged to the profit and loss account in accordance with the provisions of FRS102.
Deferred tax is provided on the cumulative revaluation surplus.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 1,229
At 31 March 2023 1,229
Depreciation
At 1 April 2022 184
Charge for the year 185
At 31 March 2023 369
Net book value
At 31 March 2023 860
At 31 March 2022 1,045
4 Investments
Investment
properties
£
Cost
At 1 April 2022 613,223
Additions 300,392
Revaluation 66,385
At 31 March 2023 980,000
Historical cost
At 1 April 2022 613,223
At 31 March 2023 913,614
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,481 -
Taxation and social security costs 4,000 5,394
Other creditors 248,212 255,098
254,693 260,492
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 666,644 443,353
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 666,644 443,353
Mortgages are secured against the investment properties.
8 Other information
JJM Stock Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 Pool Street
Walsall
WS1 2EN
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