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REGISTERED NUMBER: 08904518 (England and Wales)
















JAMES MAE PROJECTS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES MAE PROJECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: E G Caffrey
D Hirst



REGISTERED OFFICE: Preserve Works
Thackley Old Road
Shipley
West Yorkshire
BD18 1QB



REGISTERED NUMBER: 08904518 (England and Wales)



ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY



BANKERS: Barclays Bank plc
Leicester
LE87 2BB

JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 63,062 70,830

CURRENT ASSETS
Stocks - 1,175
Debtors 5 3,284,694 2,555,818
Cash at bank and in hand 217,636 276,945
3,502,330 2,833,938
CREDITORS
Amounts falling due within one year 6 2,649,212 2,065,049
NET CURRENT ASSETS 853,118 768,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

916,180

839,719

CREDITORS
Amounts falling due after more than one
year

7

(43,620

)

(81,026

)

PROVISIONS FOR LIABILITIES (1,850 ) (1,627 )
NET ASSETS 870,710 757,066

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 870,510 756,866
SHAREHOLDERS' FUNDS 870,710 757,066

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)

BALANCE SHEET - continued
31 MARCH 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 12 March 2024 and were signed on its behalf by:





E G Caffrey - Director


JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)

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

1. STATUTORY INFORMATION

James Mae Projects 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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest pound (£).

Turnover
The turnover shown in the profit and loss account is the revenue from the performance of the exchange of transactions from the supply of construction work during the year, exclusive of value added tax.

In respect of long-term contracts for ongoing services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long term contracts and contracts for on-going services is recognised by reference to the stage of completion.

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
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors and trade creditors.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.


JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 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.

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.

Training grants
Grants are credited to the profit and loss account in the period in which they are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2022 228,343
Additions 12,500
At 31 March 2023 240,843
DEPRECIATION
At 1 April 2022 157,513
Charge for year 20,268
At 31 March 2023 177,781
NET BOOK VALUE
At 31 March 2023 63,062
At 31 March 2022 70,830

JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 551,501 1,040,822
Amounts owed by group undertakings 2,578,584 1,407,411
Amounts recoverable on contract 118,555 76,836
Other debtors 36,054 30,749
3,284,694 2,555,818

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 10,011
Hire purchase contracts and finance leases (see note 8)
9,134

6,351
Trade creditors 930,649 853,735
Taxation and social security 1,185,996 696,169
Other creditors 513,433 498,783
2,649,212 2,065,049

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 22,500 32,500
Hire purchase contracts and finance leases (see note 8)
21,120

19,360
Other creditors - 29,166
43,620 81,026

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts Finance leases
2023 2022 2023 2022
£ £ £ £
Net obligations repayable:
Within one year 2,783 - 6,351 6,351
Between one and five years 8,111 - 13,009 19,360
10,894 - 19,360 25,711

Non-cancellable
operating leases
2023 2022
£ £
Within one year 19,075 19,075
Between one and five years 24,098 43,173
43,173 62,248

JAMES MAE PROJECTS LIMITED (REGISTERED NUMBER: 08904518)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Secured Debts

A personal guarantee has been given by one of the directors against a loan from a funding provider.

10. COVID-19

During the year the government support received was:
2023 2022
£ £
Loan interest paid Nil 313
Nil 313