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REGISTERED NUMBER: SC254861 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

JSM Motors Ltd.

JSM Motors Ltd. (Registered number: SC254861)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JSM Motors Ltd.

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mr J S Mitchell





REGISTERED OFFICE: Unit 6
Blackhills Industrial Estate
Findon, Portlethen
Aberdeen
AB12 4RL





REGISTERED NUMBER: SC254861 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

JSM Motors Ltd. (Registered number: SC254861)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6 8

CURRENT ASSETS
Stocks 1,200 1,200
Debtors 5 341 386
Cash at bank 23,632 21,138
25,173 22,724
CREDITORS
Amounts falling due within one year 6 50,935 49,696
NET CURRENT LIABILITIES (25,762 ) (26,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,756

)

(26,964

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (25,758 ) (26,966 )
SHAREHOLDERS' FUNDS (25,756 ) (26,964 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 director and authorised for issue on 26 March 2024 and were signed by:





Mr J S Mitchell - Director


JSM Motors Ltd. (Registered number: SC254861)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

JSM Motors Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At 31 January 2024 the company's liabilities exceeded its total assets. The financial statements have been prepared on the going concern basis which assumes the company will continue in operational existence for the foreseeable future. The validity of this assumption is based on the continued support of the director and shareholder.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

JSM Motors Ltd. (Registered number: SC254861)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 1,688
DEPRECIATION
At 1 February 2023 1,680
Charge for year 2
At 31 January 2024 1,682
NET BOOK VALUE
At 31 January 2024 6
At 31 January 2023 8

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 341 386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Taxation and social security 26 9
Other creditors 50,909 49,687
50,935 49,696

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Mr J S Mitchell
Balance outstanding at start of year (48,246 ) (46,291 )
Amounts repaid (579 ) (1,955 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (48,825 ) (48,246 )

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J S Mitchell.