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REGISTERED NUMBER: 04573328 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

JME OF LEAMINGTON SPA LIMITED

JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JME OF LEAMINGTON SPA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: C J Everard
Mrs A Everard
D T Everard





REGISTERED OFFICE: 1&2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
CV4 8HX





REGISTERED NUMBER: 04573328 (England and Wales)





ACCOUNTANTS: Armstrongs
Chartered Accountants & Tax Advisors
1 & 2 Mercia Village
Torwood Close
Westwood Business Park
Coventry
West Midlands
CV4 8HX

JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 55,122 64,385
55,122 64,385

CURRENT ASSETS
Stocks 6 416,000 335,200
Debtors 7 61,581 151,520
Cash at bank and in hand 86,188 56,643
563,769 543,363
CREDITORS
Amounts falling due within one year 8 135,078 123,361
NET CURRENT ASSETS 428,691 420,002
TOTAL ASSETS LESS CURRENT
LIABILITIES

483,813

484,387

CREDITORS
Amounts falling due after more than one
year

9

(22,010

)

(26,612

)

PROVISIONS FOR LIABILITIES (10,217 ) (10,932 )
NET ASSETS 451,586 446,843

CAPITAL AND RESERVES
Called up share capital 3,922 3,922
Share premium 8,169 8,169
Retained earnings 439,495 434,752
451,586 446,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

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.

JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2024 and were signed on its behalf by:





C J Everard - Director


JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

JME of Leamington Spa Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from restoration services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the work done on each job in progress at the Balance Sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill
Goodwill arose in connection with the acquisition of a business in 2002. The cost of the goodwill has now been amortised in full.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 8% on cost
Improvements to property - 8% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 56,000
AMORTISATION
At 1 November 2022
and 31 October 2023 56,000
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 November 2022 4,439 39,556 120,773
Additions - - 10,764
At 31 October 2023 4,439 39,556 131,537
DEPRECIATION
At 1 November 2022 2,664 20,673 96,579
Charge for year 444 5,960 8,740
At 31 October 2023 3,108 26,633 105,319
NET BOOK VALUE
At 31 October 2023 1,331 12,923 26,218
At 31 October 2022 1,775 18,883 24,194

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 57,161 7,760 11,130 240,819
Additions - - - 10,764
At 31 October 2023 57,161 7,760 11,130 251,583
DEPRECIATION
At 1 November 2022 43,974 5,919 6,625 176,434
Charge for year 3,297 460 1,126 20,027
At 31 October 2023 47,271 6,379 7,751 196,461
NET BOOK VALUE
At 31 October 2023 9,890 1,381 3,379 55,122
At 31 October 2022 13,187 1,841 4,505 64,385

JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Plant and
machinery
£   
COST
Additions 8,100
At 31 October 2023 8,100
DEPRECIATION
Charge for year 2,025
At 31 October 2023 2,025
NET BOOK VALUE
At 31 October 2023 6,075

6. STOCKS
2023 2022
£    £   
Stocks 156,000 175,000
Work-in-progress 260,000 160,200
416,000 335,200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,769 136,762
Other debtors 3,046 5,278
Directors' current accounts 24,296 -
Prepayments 7,470 9,480
61,581 151,520

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,098 12,929
Other loans - 228
Hire purchase loan 1,608 -
Trade creditors 78,866 69,039
Corporation tax 4,930 16,624
Social security and other taxes 7,623 7,954
VAT 18,474 4,439
Directors' current accounts 3,293 4,195
Accrued expenses 10,186 7,953
135,078 123,361

JME OF LEAMINGTON SPA LIMITED (REGISTERED NUMBER: 04573328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,354 10,098
Bank loans - 2-5 years 6,160 16,514
Hire purchase loan 1 - 2 years 1,608 -
Hire purchase loan 2 - 5 years 3,888 -
22,010 26,612

10. LEASING AGREEMENTS
The company entered into a lease for the property at unit 3, Welland Mill, Lock Lane commencing on 1st April 2017. The lease runs for a period of 10 years.
A rent review was undertaken and the rent increased from £36000 per annum to £45,000 per annum from April 2023.
A further review is due in April 2026.

The company leases equipment and lease commitments are as follows: -
- £74.40 per month over 60 months from August 2019 for a vehicle lift.
- £246.56 per month over 60 months from April 2023 for a compressor.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
C J Everard
Balance outstanding at start of year (1,506 ) (100 )
Amounts advanced 37,106 6,377
Amounts repaid (11,304 ) (7,783 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,296 (1,506 )

D T Everard
Balance outstanding at start of year 2,186 729
Amounts advanced 4,155 5,841
Amounts repaid (7,436 ) (4,384 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,095 ) 2,186