Registered number
04061315
JH Marketing (MIDAF) Limited
Filleted Accounts
30 September 2023
JH Marketing (MIDAF) Limited
Registered number: 04061315
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 35,491 51,249
Current assets
Stocks 44,099 24,250
Debtors 4 160,944 348,667
Cash at bank and in hand 100,547 394,054
305,590 766,971
Creditors: amounts falling due within one year 5 (93,197) (684,055)
Net current assets 212,393 82,916
Total assets less current liabilities 247,884 134,165
Provisions for liabilities (6,743) (9,737)
Net assets 241,141 124,428
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 240,141 123,428
Shareholders' funds 241,141 124,428
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.
N. Baker
Director
Approved by the board on 7 February 2024
JH Marketing (MIDAF) Limited
Notes to the Accounts
for the period from 1 April 2022 to 30 September 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 25% straight line
Motor vehicles 25% reducing balance
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 0
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 20,912 52,380 73,292
Additions 3,994 - 3,994
Disposals (2,879) - (2,879)
At 30 September 2023 22,027 52,380 74,407
Depreciation
At 1 April 2022 20,912 1,131 22,043
Charge for the period 534 19,218 19,752
On disposals (2,879) - (2,879)
At 30 September 2023 18,567 20,349 38,916
Net book value
At 30 September 2023 3,460 32,031 35,491
At 31 March 2022 - 51,249 51,249
4 Debtors 2023 2022
£ £
Trade debtors 147,206 148,766
Other debtors 13,738 199,901
160,944 348,667
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 20,138 630,271
Taxation and social security costs 34,081 -
Other creditors 38,978 53,784
93,197 684,055
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N. Baker
Loan account 40,534 - (40,534) -
C. Baker
Loan account 40,533 - (40,533) -
81,067 - (81,067) -
7 Other information
JH Marketing (MIDAF) Limited is a private company limited by shares and incorporated in England. Its registered office is:
35 Sandyhurst Lane
Ashford
Kent
TN25 4NS
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