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REGISTERED NUMBER: 07674070 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 March 2023

for

JMTO LTD

JMTO LTD (REGISTERED NUMBER: 07674070)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


JMTO LTD

Company Information
for the year ended 31 March 2023







Directors: Mr M Keevil
Mrs J Keevil





Registered office: Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE





Registered number: 07674070 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

JMTO LTD (REGISTERED NUMBER: 07674070)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 10,510 11,434
Investments 6 - 250,397
10,510 261,831

Current assets
Stocks 4,156 2,864
Debtors 7 29,552 28,664
Cash at bank and in hand 177,638 129,731
211,346 161,259
Creditors
Amounts falling due within one year 8 92,790 131,364
Net current assets 118,556 29,895
Total assets less current liabilities 129,066 291,726

Capital and reserves
Called up share capital 9 100 100
Retained earnings 128,966 291,626
Shareholders' funds 129,066 291,726

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

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

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 February 2024 and were signed on its behalf by:





Mr M Keevil - Director


JMTO LTD (REGISTERED NUMBER: 07674070)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

JMTO Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of six years.

Intangible assets
Capitalised intangible asset costs are written off over a period of six 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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

JMTO LTD (REGISTERED NUMBER: 07674070)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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 9 (2022 - 3 ) .

4. Intangible fixed assets
Intangible
Goodwill assets Totals
£    £    £   
Cost
At 1 April 2022
and 31 March 2023 28,504 7,949 36,453
Amortisation
At 1 April 2022
and 31 March 2023 28,504 7,949 36,453
Net book value
At 31 March 2023 - - -
At 31 March 2022 - - -

JMTO LTD (REGISTERED NUMBER: 07674070)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2022 20,400 912 3,113 24,425
Additions - 226 691 917
At 31 March 2023 20,400 1,138 3,804 25,342
Depreciation
At 1 April 2022 10,243 418 2,330 12,991
Charge for year 1,533 84 224 1,841
At 31 March 2023 11,776 502 2,554 14,832
Net book value
At 31 March 2023 8,624 636 1,250 10,510
At 31 March 2022 10,157 494 783 11,434

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 April 2022 250,397
Disposals (250,397 )
At 31 March 2023 -
Net book value
At 31 March 2023 -
At 31 March 2022 250,397

7. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 28,417 27,715
Other debtors 1,135 949
29,552 28,664

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 6,240 5,930
Taxation and social security 46,618 48,608
Other creditors 39,932 76,826
92,790 131,364

JMTO LTD (REGISTERED NUMBER: 07674070)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25 A Ordinary £1 25 25
25 B Ordinary £1 25 25
25 C Ordinary £1 25 25
25 D Ordinary £1 25 25
100 100

10. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr M Keevil
Balance outstanding at start of year (70,977 ) (92,603 )
Amounts advanced 65,677 70,306
Amounts repaid (29,068 ) (48,680 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (34,368 ) (70,977 )