Registered number
04437838
J M F Accounting Limited
Filleted Accounts
31 May 2023
J M F Accounting Limited
Registered number: 04437838
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 10,000 10,000
Tangible assets 4 859 584
10,859 10,584
Current assets
Debtors 5 22,004 19,667
Cash at bank and in hand 1,182 1,268
23,186 20,935
Creditors: amounts falling due within one year 6 (16,630) (15,864)
Net current assets 6,556 5,071
Total assets less current liabilities 17,415 15,655
Creditors: amounts falling due after more than one year 7 (3,958) (5,858)
Provisions for liabilities (163) (111)
Net assets 13,294 9,686
Capital and reserves
Called up share capital 2 2
Profit and loss account 13,292 9,684
Shareholders' funds 13,294 9,686
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 members have 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.
R V T Mitchell-Fox
Director
Approved by the board on 20 February 2024
J M F Accounting Limited
Notes to the Accounts
for the year ended 31 May 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Computer equipment over 3 years
Fixtures, fittings, tools and equipment 10 % Reducing
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 10,000
At 31 May 2023 10,000
Amortisation
At 31 May 2023 -
Net book value
At 31 May 2023 10,000
At 31 May 2022 10,000
4 Tangible fixed assets
Plant and machinery etc Computer equipment Total
£ £ £
Cost
At 1 June 2022 1,937 2,582 4,519
Additions - 500 500
At 31 May 2023 1,937 3,082 5,019
Depreciation
At 1 June 2022 1,353 2,582 3,935
Charge for the year 58 167 225
At 31 May 2023 1,411 2,749 4,160
Net book value
At 31 May 2023 526 333 859
At 31 May 2022 584 - 584
5 Debtors 2023 2022
£ £
Trade debtors 585 600
Other debtors 21,419 19,067
22,004 19,667
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,900 1,900
Trade creditors 618 513
Taxation and social security costs 14,112 13,451
16,630 15,864
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,958 5,858
8 Other information
J M F Accounting Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Holt Place
Coach House Mews
Ferndown
Dorset
BH22 9UX
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