Registered number
03709588
JMC Window Machinery Limited
Unaudited Filleted Accounts
31 July 2023
JMC Window Machinery Limited
Registered number: 03709588
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,230 4,777
Current assets
Stocks 1,800 950
Debtors 4 15,355 10,968
Cash at bank and in hand - 5,282
17,155 17,200
Creditors: amounts falling due within one year 5 (20,551) (17,898)
Net current liabilities (3,396) (698)
Total assets less current liabilities 1,834 4,079
Creditors: amounts falling due after more than one year 6 - (3,149)
Provisions for liabilities (994) (908)
Net assets 840 22
Capital and reserves
Called up share capital 4 4
Profit and loss account 836 18
Shareholders' funds 840 22
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 M Chappell
Director
Approved by the board on 12 February 2024
JMC Window Machinery Limited
Notes to the Accounts
for the year ended 31 July 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
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
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:
Plant and machinery over 5 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 9,407 15,500 24,907
Additions 1,776 - 1,776
At 31 July 2023 11,183 15,500 26,683
Depreciation
At 1 August 2022 7,389 12,741 20,130
Charge for the year 633 690 1,323
At 31 July 2023 8,022 13,431 21,453
Net book value
At 31 July 2023 3,161 2,069 5,230
At 31 July 2022 2,018 2,759 4,777
4 Debtors 2023 2022
£ £
Trade debtors 7,338 2,746
Other debtors 8,017 8,222
15,355 10,968
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 6,474 3,150
Trade creditors 3,383 1,568
Taxation and social security costs 3,344 8,144
Other creditors 7,350 5,036
20,551 17,898
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 3,149
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D A Chappell
Interest free loan with no fixed repayment date. 4,081 3,979 (4,081) 3,979
J M Chappell
Interest free loan with no fixed repayment date. 4,082 3,979 (4,082) 3,979
8,163 7,958 (8,163) 7,958
8 Other information
JMC Window Machinery Limited is a private company limited by shares and incorporated in England. Its registered office is:
55 Thornton Avenue
Macclesfield
Cheshire
SK11 7UG
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