IRIS Accounts Production v24.1.9.2 03341123 Board of Directors Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh033411232023-03-31033411232024-03-31033411232023-04-012024-03-31033411232022-03-31033411232022-04-012023-03-31033411232023-03-3103341123ns15:EnglandWales2023-04-012024-03-3103341123ns14:PoundSterling2023-04-012024-03-3103341123ns10:Director12023-04-012024-03-3103341123ns10:Director22023-04-012024-03-3103341123ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103341123ns10:SmallEntities2023-04-012024-03-3103341123ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103341123ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103341123ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103341123ns10:FullAccounts2023-04-012024-03-3103341123ns10:OrdinaryShareClass12023-04-012024-03-3103341123ns10:CompanySecretary12023-04-012024-03-3103341123ns10:RegisteredOffice2023-04-012024-03-3103341123ns5:CurrentFinancialInstruments2024-03-3103341123ns5:CurrentFinancialInstruments2023-03-3103341123ns5:ShareCapital2024-03-3103341123ns5:ShareCapital2023-03-3103341123ns5:CapitalRedemptionReserve2024-03-3103341123ns5:CapitalRedemptionReserve2023-03-3103341123ns5:RetainedEarningsAccumulatedLosses2024-03-3103341123ns5:RetainedEarningsAccumulatedLosses2023-03-3103341123ns5:FurnitureFittings2023-04-012024-03-3103341123ns5:ComputerEquipment2023-04-012024-03-3103341123ns5:FurnitureFittings2023-03-3103341123ns5:ComputerEquipment2023-03-3103341123ns5:FurnitureFittings2024-03-3103341123ns5:ComputerEquipment2024-03-3103341123ns5:FurnitureFittings2023-03-3103341123ns5:ComputerEquipment2023-03-3103341123ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103341123ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103341123ns10:OrdinaryShareClass12024-03-31033411231ns10:Director12023-03-31033411231ns10:Director12022-03-31033411231ns10:Director12023-04-012024-03-31033411231ns10:Director12022-04-012023-03-31033411231ns10:Director12024-03-31033411231ns10:Director12023-03-31
REGISTERED NUMBER: 03341123 (England and Wales)















JM PARTNERSHIP (SURVEYORS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 3

Notes to the Financial Statements 5


JM PARTNERSHIP (SURVEYORS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A M Wilkinson
Mr P A Stuart





SECRETARY: Mr A M Wilkinson





REGISTERED OFFICE: Building 1063
Cornforth Drive
Kent Science Park
Sittingbourne
Kent
ME9 8PX





BUSINESS ADDRESS: Suite 3
Peach Business Centre
8 Chestnut Avenue
Chatham
Kent
ME5 9AJ





REGISTERED NUMBER: 03341123 (England and Wales)






JM PARTNERSHIP (SURVEYORS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
Building 1063
Cornforth Drive
Kent Science Park
SITTINGBOURNE
Kent
ME9 8PX

JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,570 14,969

CURRENT ASSETS
Debtors 6 217,701 195,964
Cash at bank 333,320 387,331
551,021 583,295
CREDITORS
Amounts falling due within one year 7 171,653 208,465
NET CURRENT ASSETS 379,368 374,830
TOTAL ASSETS LESS CURRENT
LIABILITIES

396,938

389,799

PROVISIONS FOR LIABILITIES 3,338 3,742
NET ASSETS 393,600 386,057

CAPITAL AND RESERVES
Called up share capital 9 11 11
Capital redemption reserve 89 89
Retained earnings 393,500 385,957
SHAREHOLDERS' FUNDS 393,600 386,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 30 July 2024 and were signed on its behalf by:




Mr A M Wilkinson - Director



Mr P A Stuart - Director


JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

JM Partnership (Surveyors) 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

Turnover
Turnover represents services provided to customers after accrued income, net of vat.

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 - 15% on reducing balance
Computer equipment - 25% on reducing balance

JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year 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 statement of financial position date.

JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit and loss.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 21 ) .

JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 24,777 38,617 63,394
Additions - 6,336 6,336
At 31 March 2024 24,777 44,953 69,730
DEPRECIATION
At 1 April 2023 20,187 28,238 48,425
Charge for year 689 3,046 3,735
At 31 March 2024 20,876 31,284 52,160
NET BOOK VALUE
At 31 March 2024 3,901 13,669 17,570
At 31 March 2023 4,590 10,379 14,969

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 201,113 179,519
Directors' Current Accounts - 1,455
Accrued Income 8,404 8,650
Prepayments 8,184 6,340
217,701 195,964

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 16,741 11,416
Other creditors 7,774 5,880
Other taxes and PAYE 105,588 113,257
Accruals 28,969 31,806
Directors' Current Accounts 1,856 2,281
Deferred income 10,725 43,825
171,653 208,465

8. SECURED DEBTS

There was a fixed and floating charge dated 26 November 2008 over the undertaking and all property and assets present and future. This was satisfied on 6 December 2023.

JM PARTNERSHIP (SURVEYORS) LIMITED (REGISTERED NUMBER: 03341123)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,149 Ordinary 1p 11 11

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr A M Wilkinson
Balance outstanding at start of year 1,455 -
Amounts advanced - 1,455
Amounts repaid (1,455 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,455

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A M Wilkinson.