Acorah Software Products - Accounts Production 14.5.601 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 04590876 Mr John Wareing Mrs Janis Wareing iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04590876 2023-03-31 04590876 2024-03-31 04590876 2023-04-01 2024-03-31 04590876 frs-core:CurrentFinancialInstruments 2024-03-31 04590876 frs-core:Non-currentFinancialInstruments 2024-03-31 04590876 frs-core:BetweenOneFiveYears 2024-03-31 04590876 frs-core:ComputerEquipment 2024-03-31 04590876 frs-core:ComputerEquipment 2023-04-01 2024-03-31 04590876 frs-core:ComputerEquipment 2023-03-31 04590876 frs-core:PlantMachinery 2024-03-31 04590876 frs-core:PlantMachinery 2023-04-01 2024-03-31 04590876 frs-core:PlantMachinery 2023-03-31 04590876 frs-core:WithinOneYear 2024-03-31 04590876 frs-core:ShareCapital 2024-03-31 04590876 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 04590876 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04590876 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 04590876 frs-bus:SmallEntities 2023-04-01 2024-03-31 04590876 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04590876 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04590876 frs-bus:Director1 2023-04-01 2024-03-31 04590876 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 04590876 frs-countries:EnglandWales 2023-04-01 2024-03-31 04590876 2022-03-31 04590876 2023-03-31 04590876 2022-04-01 2023-03-31 04590876 frs-core:CurrentFinancialInstruments 2023-03-31 04590876 frs-core:Non-currentFinancialInstruments 2023-03-31 04590876 frs-core:BetweenOneFiveYears 2023-03-31 04590876 frs-core:WithinOneYear 2023-03-31 04590876 frs-core:ShareCapital 2023-03-31 04590876 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 04590876
JMI Flooring Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04590876
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 23,114 12,917
23,114 12,917
CURRENT ASSETS
Stocks 5 430 400
Debtors 6 45,857 11,465
Cash at bank and in hand - 7,004
46,287 18,869
Creditors: Amounts Falling Due Within One Year 7 (50,017 ) (18,377 )
NET CURRENT ASSETS (LIABILITIES) (3,730 ) 492
TOTAL ASSETS LESS CURRENT LIABILITIES 19,384 13,409
Creditors: Amounts Falling Due After More Than One Year 8 (11,008 ) (10,833 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,392 ) (2,454 )
NET ASSETS 3,984 122
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 3,884 22
SHAREHOLDERS' FUNDS 3,984 122
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Wareing
Director
23/04/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
JMI Flooring Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04590876 . The registered office is The Old Barn, Wood Street, Swanley, Kent, BR8 7PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on reducing balance
Computer Equipment 15% on reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
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.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 51,151 2,886 54,037
Additions 17,227 - 17,227
Disposals (25,611 ) - (25,611 )
As at 31 March 2024 42,767 2,886 45,653
Depreciation
As at 1 April 2023 38,854 2,266 41,120
Provided during the period 3,986 93 4,079
Disposals (22,660 ) - (22,660 )
As at 31 March 2024 20,180 2,359 22,539
Net Book Value
As at 31 March 2024 22,587 527 23,114
As at 1 April 2023 12,297 620 12,917
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5. Stocks
2024 2023
£ £
Stock 430 400
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 42,466 3,729
Other debtors 513 -
VAT 2,878 5,538
Director's loan account - 2,198
45,857 11,465
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 3,450 1,250
Trade creditors 20,402 858
Bank loans and overdrafts 19,590 5,000
Corporation tax 5,536 11,215
Other taxes and social security 736 54
Other creditors 269 -
Director's loan account 34 -
50,017 18,377
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,175 -
Bank loans 5,833 10,833
11,008 10,833
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9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,450 1,250
Later than one year and not later than five years 5,175 -
8,625 1,250
8,625 1,250
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
Included in the Other Creditors is an amount owed to the company director Mr J Wareing totalling £34 (2023 - £2,198 Debtor), no interest is to be charged.
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