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REGISTERED NUMBER: 08587952 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th June 2023

for

Jmd Inc Ltd

Jmd Inc Ltd (Registered number: 08587952)






Contents of the Financial Statements
for the Year Ended 30th June 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Jmd Inc Ltd (Registered number: 08587952)

Balance Sheet
30th June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,544 53,703

CURRENT ASSETS
Debtors 5 14,367 36,983
Cash at bank 69,348 89,941
83,715 126,924
CREDITORS
Amounts falling due within one year 6 49,471 41,608
NET CURRENT ASSETS 34,244 85,316
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,788

139,019

CREDITORS
Amounts falling due after more than one year 7 (91,909 ) (73,214 )

PROVISIONS FOR LIABILITIES (14,923 ) (10,204 )
NET ASSETS 5,956 55,601

CAPITAL AND RESERVES
Called up share capital 9 101 101
Retained earnings 5,855 55,500
SHAREHOLDERS' FUNDS 5,956 55,601

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 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.

Jmd Inc Ltd (Registered number: 08587952)

Balance Sheet - continued
30th June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd April 2024 and were signed on its behalf by:





Dr P S Shetty - Director


Jmd Inc Ltd (Registered number: 08587952)

Notes to the Financial Statements
for the Year Ended 30th June 2023

1. COMPANY INFORMATION

Jmd Inc Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08587952

Registered office: 1st Floor
49 Peter Street
Manchester
M2 3NG

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue from the provision of professional services is recognised on delivery of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost

Tangible Fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment loss.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit or loss.

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.

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.

Jmd Inc Ltd (Registered number: 08587952)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st July 2022 7,718 65,580 73,298
Additions 2,273 46,090 48,363
At 30th June 2023 9,991 111,670 121,661
DEPRECIATION
At 1st July 2022 6,479 13,116 19,595
Charge for year 1,188 22,334 23,522
At 30th June 2023 7,667 35,450 43,117
NET BOOK VALUE
At 30th June 2023 2,324 76,220 78,544
At 30th June 2022 1,239 52,464 53,703

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 14,264 36,983
Other debtors 103 -
14,367 36,983

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 7,400 7,400
Other loans 8,347 8,347
Hire purchase contracts 8,313 -
Tax 16,422 18,859
Other creditors 5,991 2,373
Paye control - 791
Directors' current accounts 94 820
Accrued expenses 2,904 3,018
49,471 41,608

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-2 years 15,768 23,069
Other loans - 1-2 years 41,798 50,145
Hire purchase contracts 34,343 -
91,909 73,214

Jmd Inc Ltd (Registered number: 08587952)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans 23,168 30,469
Hire purchase contracts 42,656 -
65,824 30,469

The HP creditor is secured on the asset that it finances.

The bank loan is guaranteed by the Government's Bounce Back Loan Scheme.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
60 Ordinary A £1 60 60
40 Ordinary B £1 40 40
1 Ordinary C £1 1 1
101 101

The A Shares confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The B and C Shares do not confer on the holders the right to vote upon any resolution proposed at any general meeting of the company.

The A, B and C Shares rank pari passu in respect of dividend and capital distribution rights.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th June 2023 and 30th June 2022:

30.6.23 30.6.22
£    £   
Dr P S Shetty
Balance outstanding at start of year (820 ) 55,672
Amounts advanced 121,950 85,385
Amounts repaid (121,224 ) (141,877 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (94 ) (820 )

The loan is repayable on demand and no interest was charged during the year.

11. CONTROL

The ultimate controlling party is Dr Shetty by virtue of holding 100% of the voting share capital.