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REGISTERED NUMBER: 10288266 (England and Wales)
















JAMES MAE INDUSTRIES LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023






JAMES MAE INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAMES MAE INDUSTRIES LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023







DIRECTORS: A P Banks
E G Caffrey
D Hirst





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





REGISTERED NUMBER: 10288266 (England and Wales)





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

JAMES MAE INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

BALANCE SHEET
30 MARCH 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 107,467 167,282
Investments 5 3 3
107,470 167,285

CURRENT ASSETS
Stocks 394,836 428,034
Debtors 6 2,671,853 2,482,261
Cash at bank 20,781 42,144
3,087,470 2,952,439
CREDITORS
Amounts falling due within one year 7 4,410,723 3,451,355
NET CURRENT LIABILITIES (1,323,253 ) (498,916 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,215,783

)

(331,631

)

CREDITORS
Amounts falling due after more than one
year

8

286,344

344,506
NET LIABILITIES (1,502,127 ) (676,137 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (1,502,131 ) (676,141 )
(1,502,127 ) (676,137 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 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 INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

BALANCE SHEET - continued
30 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 INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

1. STATUTORY INFORMATION

James Mae Industries 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 presentation currency of the financial statements is the Pound Sterling (£).

Going Concern
The accounts have been prepared on a going concern basis due to the ongoing support of an employee and associated companies.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
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 items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 though 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 INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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
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.

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 period was 47 (2022 - 49 ) .

JAMES MAE INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 April 2022 316,674
Additions 18,500
Disposals (27,940 )
At 30 March 2023 307,234
DEPRECIATION
At 1 April 2022 149,392
Charge for period 66,464
Eliminated on disposal (16,089 )
At 30 March 2023 199,767
NET BOOK VALUE
At 30 March 2023 107,467
At 31 March 2022 167,282

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 April 2022
and 30 March 2023 3
NET BOOK VALUE
At 30 March 2023 3
At 31 March 2022 3

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 316,879 168,532
Amounts owed by group undertakings 19,368 14,202
Amounts recoverable on contract 2,053,494 2,073,149
Other debtors 282,112 226,378
2,671,853 2,482,261

JAMES MAE INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 17,544 20,001
Trade creditors 1,032,042 1,137,815
Amounts owed to group undertakings 2,871,406 1,859,899
Taxation and social security 371,982 311,683
Other creditors 107,749 111,957
4,410,723 3,451,355

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 21,667 31,667
Hire purchase contracts (see note 9) 11,458 25,625
Other creditors 253,219 287,214
286,344 344,506

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£ £
Net obligations repayable:
Within one year 17,544 20,001
Between one and five years 11,458 25,625
29,002 45,626

Non-cancellable
operating leases
2023 2022
£ £
Within one year 4,557 5,170
Between one and five years 1,709 5,921
6,266 11,091

10. SECURED DEBTS

Personal guarantees have been given by two directors against the loan from a funding provider.

JAMES MAE INDUSTRIES LIMITED (REGISTERED NUMBER: 10288266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2022 TO 30 MARCH 2023

11. COVID-19

During the year the government support received was:
2023 2022
£ £
Coronavirus job retention scheme - 17,484
Loan interest paid - 208
nil 17,692