Registered number
08045693
JMG Technical Limited
Unaudited Filleted Accounts
For the Year Ended
31 October 2023
JMG Technical Limited
Registered number: 08045693
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,650 400
Current assets
Stocks 22,455 8,265
Debtors 4 658 -
Cash at bank and in hand 11,170 3,668
34,283 11,933
Creditors: amounts falling due within one year 5 (49,836) (20,313)
Net current liabilities (15,553) (8,380)
Net assets/(liabilities) 13,097 (7,980)
Capital and reserves
Called up share capital 100 100
Profit and loss account 12,997 (8,080)
Shareholder's funds 13,097 (7,980)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J A G Kelly
Director
Approved by the board on 28 July 2024
JMG Technical Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 9,481 - 9,481
Additions 1,350 30,000 31,350
Disposals (800) - (800)
At 31 October 2023 10,031 30,000 40,031
Depreciation
At 1 November 2022 9,081 - 9,081
Charge for the year 100 3,000 3,100
On disposals (800) - (800)
At 31 October 2023 8,381 3,000 11,381
Net book value
At 31 October 2023 1,650 27,000 28,650
At 31 October 2022 400 - 400
4 Debtors 2023 2022
£ £
Other debtors 658 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19,200 -
Other creditors 30,636 20,313
49,836 20,313
6 Other information
JMG Technical Limited is a private company limited by shares and incorporated in England. Its registered office is:
270 Ablington
Figheldean
Salisbury
Wiltshire
SP4 8JX
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