REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th June 2023 |
for |
Jmd Inc Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th June 2023 |
for |
Jmd Inc Ltd |
Jmd Inc Ltd (Registered number: 08587952) |
Contents of the Financial Statements |
for the Year Ended 30th June 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
Jmd Inc Ltd (Registered number: 08587952) |
Balance Sheet |
30th June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Jmd Inc Ltd (Registered number: 08587952) |
Balance Sheet - continued |
30th June 2023 |
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 |
Jmd Inc Ltd (Registered number: 08587952) |
Notes to the Financial Statements |
for the Year Ended 30th June 2023 |
1. | COMPANY INFORMATION |
Jmd Inc Ltd is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue from the provision of professional services is recognised on delivery of the service. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss. |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss. |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
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. |
Jmd Inc Ltd (Registered number: 08587952) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1st July 2022 |
Additions |
At 30th June 2023 |
DEPRECIATION |
At 1st July 2022 |
Charge for year |
At 30th June 2023 |
NET BOOK VALUE |
At 30th June 2023 |
At 30th June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Hire purchase contracts |
Tax |
Other creditors |
Paye control | - | 791 |
Directors' current accounts | 94 | 820 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans - 1-2 years |
Other loans - 1-2 years |
Hire purchase contracts |
Jmd Inc Ltd (Registered number: 08587952) |
Notes to the Financial Statements - continued |
for the Year Ended 30th June 2023 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.23 | 30.6.22 |
£ | £ |
Bank loans |
Hire purchase contracts | 42,656 | - |
The HP creditor is secured on the asset that it finances. |
The bank loan is guaranteed by the Government's Bounce Back Loan Scheme. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary A | £1 | 60 | 60 |
Ordinary B | £1 | 40 | 40 |
Ordinary C | £1 | 1 | 1 |
101 | 101 |
The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. |
The B and C Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company. |
The A, B and C Shares rank pari passu in respect of dividend and capital distribution rights. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30th June 2023 and 30th June 2022: |
30.6.23 | 30.6.22 |
£ | £ |
Balance outstanding at start of year | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
The loan is repayable on demand and no interest was charged during the year. |
11. | CONTROL |
The ultimate controlling party is Dr Shetty by virtue of holding 100% of the voting share capital. |