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REGISTERED NUMBER: SC640568 (Scotland)




















JBM Glass & Glazing Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2023






JBM Glass & Glazing Ltd (Registered number: SC640568)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JBM Glass & Glazing Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTOR: Mr J B McBride



REGISTERED OFFICE: Units 2 & 3 Merlin Way
Dalgety Bay
Fife
KY11 9JY



REGISTERED NUMBER: SC640568 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: Starling Bank
5th Floor London Fruit and Wool Exchange
1 Duval Square
London
EC2M 2PP

JBM Glass & Glazing Ltd (Registered number: SC640568)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,000 9,000
Tangible assets 5 126,274 153,151
Investments 6 25 25
134,299 162,176

CURRENT ASSETS
Stocks 12,000 15,000
Debtors 7 39,286 -
Cash at bank and in hand 27,318 33,383
78,604 48,383
CREDITORS
Amounts falling due within one year 8 149,880 107,019
NET CURRENT LIABILITIES (71,276 ) (58,636 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,023

103,540

CREDITORS
Amounts falling due after more than
one year

9

(44,279

)

(75,536

)

PROVISIONS FOR LIABILITIES (18,117 ) (9,551 )
NET ASSETS 627 18,453

JBM Glass & Glazing Ltd (Registered number: SC640568)

Balance Sheet - continued
30 September 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 527 18,353
SHAREHOLDERS' FUNDS 627 18,453

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 16 October 2023 and were signed by:





Mr J B McBride - Director


JBM Glass & Glazing Ltd (Registered number: SC640568)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

JBM Glass & Glazing Ltd is a private company, limited by shares , registered in Scotland. 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 and revenue recognition
Turnover represents net income receivable from glazing contracts, excluding value added tax.
Revenue is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 10% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

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

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

All loans with related parties are all repayable on demand.


JBM Glass & Glazing Ltd (Registered number: SC640568)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Provision for liabilities
Provisions are recognised where the company has a present obligation as a result of a past event, it is probably the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

JBM Glass & Glazing Ltd (Registered number: SC640568)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 10,000
AMORTISATION
At 1 October 2022 1,000
Charge for year 1,000
At 30 September 2023 2,000
NET BOOK VALUE
At 30 September 2023 8,000
At 30 September 2022 9,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 180,028
DEPRECIATION
At 1 October 2022 26,877
Charge for year 26,877
At 30 September 2023 53,754
NET BOOK VALUE
At 30 September 2023 126,274
At 30 September 2022 153,151

JBM Glass & Glazing Ltd (Registered number: SC640568)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 158,415
DEPRECIATION
At 1 October 2022 21,473
Charge for year 21,473
At 30 September 2023 42,946
NET BOOK VALUE
At 30 September 2023 115,469
At 30 September 2022 136,942

6. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 October 2022
and 30 September 2023 25
NET BOOK VALUE
At 30 September 2023 25
At 30 September 2022 25

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 37,286 -
Other debtors 2,000 -
39,286 -

JBM Glass & Glazing Ltd (Registered number: SC640568)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 31,448 31,448
Taxation and social security 88,907 24,040
Other creditors 29,525 51,531
149,880 107,019

The director's current account is unsecured, interest free and has no fixed repayment period.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 44,279 75,536