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JMC-Group Ltd

Annual Report and Unaudited Financial Statements
Year Ended 31 May 2023

Registration number: 08647118

 

JMC-Group Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

JMC-Group Ltd

Balance Sheet

31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

700

700

Current assets

 

Debtors

5

527,303

538,303

Cash at bank and in hand

 

767

87

 

528,070

538,390

Creditors: Amounts falling due within one year

6

(51,456)

(40,170)

Net current assets

 

476,614

498,220

Net assets

 

477,314

498,920

Capital and reserves

 

Called up share capital

7

229

229

Share premium reserve

44,959

44,959

Profit and loss account

432,126

453,732

Shareholders' funds

 

477,314

498,920

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 March 2024
 

.........................................
Mr W H Crook
Director

Company Registration Number: 08647118

 

JMC-Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principal place of business is:
Unit 1, First Floor
Exeter International Office Park
Clyst Honiton
Exeter
Devon
EX5 2HL

These financial statements were authorised for issue by the director on 28 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover is the aggregate amount of revenue from management fees in relation to its subsidiaries under control.

Investments

Investments in equity shares which are not publicly traded and where the fair value can be measured reliably are initially measured at cost less impairment.

 

JMC-Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 May 2023

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

2023
£

2022
£

Investments in subsidiaries

700

700

Subsidiaries

£

Cost or valuation

At 1 June 2022

700

Provision

Carrying amount

At 31 May 2023

700

At 31 May 2022

700

 

JMC-Group Ltd

Notes to the Unaudited Financial Statements

Year Ended 31 May 2023

5

Debtors

2023
£

2022
£

Amounts owed by related companies

25,784

40,784

Other debtors

501,519

497,519

527,303

538,303

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

11,286

-

Other creditors

31,670

31,670

Accruals and deferred income

8,500

8,500

51,456

40,170

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A share of £0.01 each

18,856

188.56

20,000

200.00

Ordinary B share of £0.01 each

4,004

40.04

2,860

28.60

 

22,860

228.60

22,860

228.60

During the year, the company reclassified 1,144 Ordinary A shares as Ordinary B shares.

The Ordinary B shares do not carry voting rights, or a right to share in a return of capital on liquidation.