Company Registration No. 12811035 (England and Wales)
JKMF TRADING LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
JKMF TRADING LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
JKMF TRADING LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
517
638
Current assets
Cash at bank and in hand
101
131
Creditors: amounts falling due within one year
(17,745)
(16,627)
Net current liabilities
(17,644)
(16,496)
Net liabilities
(17,127)
(15,858)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(17,227)
(15,958)
Total equity
(17,127)
(15,858)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 8 March 2024
Mr J Fowles
Director
Company registration number 12811035 (England and Wales)
JKMF TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information

JKMF Trading Limited is a private company limited by shares incorporated in England and Wales. The registered office is Office 43, The Cobalt Building, 1600 Eureka Park, Lower Pemberton, Ashford, Kent, TN25 4BF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% Reducing balance
Computers
20% Reducing balance

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 profit or loss.

1.3
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

JKMF TRADING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 September 2022 and 31 August 2023
174
782
956
Depreciation and impairment
At 1 September 2022
47
271
318
Depreciation charged in the year
19
102
121
At 31 August 2023
66
373
439
Carrying amount
At 31 August 2023
108
409
517
At 31 August 2022
127
511
638
4
Directors' transactions
Description
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr J Fowles -
(16,627)
(172)
(16,799)
(16,627)
(172)
(16,799)
2023-08-312022-09-01falseCCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr J Fowlesfalsefalse128110352022-09-012023-08-31128110352023-08-31128110352022-08-3112811035core:FurnitureFittings2023-08-3112811035core:ComputerEquipment2023-08-3112811035core:FurnitureFittings2022-08-3112811035core:ComputerEquipment2022-08-3112811035core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3112811035core:CurrentFinancialInstrumentscore:WithinOneYear2022-08-3112811035core:ShareCapital2023-08-3112811035core:ShareCapital2022-08-3112811035core:RetainedEarningsAccumulatedLosses2023-08-3112811035core:RetainedEarningsAccumulatedLosses2022-08-3112811035bus:Director12022-09-012023-08-3112811035core:FurnitureFittings2022-09-012023-08-3112811035core:ComputerEquipment2022-09-012023-08-31128110352021-09-012022-08-3112811035core:FurnitureFittings2022-08-3112811035core:ComputerEquipment2022-08-31128110352022-08-3112811035bus:PrivateLimitedCompanyLtd2022-09-012023-08-3112811035bus:SmallCompaniesRegimeForAccounts2022-09-012023-08-3112811035bus:FRS1022022-09-012023-08-3112811035bus:AuditExempt-NoAccountantsReport2022-09-012023-08-3112811035bus:FullAccounts2022-09-012023-08-31xbrli:purexbrli:sharesiso4217:GBP