Company registration number 02985365 (England and Wales)
J.M. Building Services Limited
Unaudited
financial statements
for the year ended 31 October 2023
PAGES FOR FILING WITH REGISTRAR
J.M. Building Services Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 4
J.M. Building Services Limited
Statement of financial position
as at 31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,892
1,764
Current assets
Stocks
6,000
24,985
Debtors
112,838
78,598
Cash at bank and in hand
7,100
243,024
125,938
346,607
Creditors: amounts falling due within one year
(24,561)
(143,821)
Net current assets
101,377
202,786
Total assets less current liabilities
105,269
204,550
Provisions for liabilities
4
(335)
(335)
Net assets
104,934
204,215
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
104,834
204,115
Total equity
104,934
204,215
J.M. Building Services Limited
Statement of financial position (continued)
as at 31 October 2023
- 2 -
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 January 2024
J Morris
Director
Company registration number 02985365 (England and Wales)
J.M. Building Services Limited
Notes to the financial statements
for the year ended 31 October 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing Balance
Motor vehicles
Enter depreciation rate via StatDB - cd78
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
J.M. Building Services Limited
Notes to the financial statements (continued)
for the year ended 31 October 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
4
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 November 2022
52,338
52,338
Additions
508
2,500
3,008
At 31 October 2023
52,846
2,500
55,346
Depreciation and impairment
At 1 November 2022
50,574
50,574
Depreciation charged in the year
880
880
At 31 October 2023
51,454
51,454
Carrying amount
At 31 October 2023
1,392
2,500
3,892
At 31 October 2022
1,764
1,764
4
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
335
335
5
Company information
J.M. Building Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is Brooks Mill, Carr Lane, Slaithwaite, Huddersfield, West Yorkshire, HD7 5BQ.