REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
JM DAIRY SERVICES LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
JM DAIRY SERVICES LTD |
JM DAIRY SERVICES LTD (REGISTERED NUMBER: 07383888) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
JM DAIRY SERVICES LTD |
COMPANY INFORMATION |
for the Year Ended 31 October 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Market Square House |
Station Road |
Sturminster Newton |
Dorset |
DT10 1FG |
JM DAIRY SERVICES LTD (REGISTERED NUMBER: 07383888) |
BALANCE SHEET |
31 October 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
JM DAIRY SERVICES LTD (REGISTERED NUMBER: 07383888) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 October 2023 |
1. | STATUTORY INFORMATION |
JM Dairy Services Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents sales invoices raised for work done plus an adjustment for long-term contract revenues (see below), excluding value added tax. Turnover is recognised in the period in which goods and services are performed. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Stocks and long-term contracts |
In the case of long-term contracts, turnover represents the estimated contract revenues on work during the year. Contract revenues and profits are computed on the stage of completion. |
Long-term contract balances included in stocks compromise costs incurred on long-term contracts, net of amounts transferred to cost of sales, after deducting foreseeable losses and related payments on account. Costs include all direct material and labour costs incurred in bringing a contract to its stage of completion at the year end. Provisions for estimated losses on contracts are made in the period in which such losses are foreseen. |
The excess of payments on account received over amounts recorded as turnover is classified under creditors due within one year. Amounts recoverable on contracts, being the amount by which recorded turnover is in excess of payments on account, is classified under debtors. |
Stock is stated at the lower of cost and net realisable value. Provision is made for obsolete, slow moving or defective items where appropriate. |
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 balance sheet date. |
JM DAIRY SERVICES LTD (REGISTERED NUMBER: 07383888) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2022 |
Additions |
Disposals | ( |
) |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade debtors |
Other debtors |
JM DAIRY SERVICES LTD (REGISTERED NUMBER: 07383888) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 October 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.10.23 | 31.10.22 |
£ | £ |
Within one year |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary | 1 | 1 | 1 |
9. | TRANSITION FROM FRS105 TO FRS102 S1A |
The date of transition to FRS 102 from FRS 105 was the 1st November 2021. The only adjustment in the year ended 31st October 2023 and the year ended 31st October 2022 as a result of transition is deferred tax. |
In the year ended 31st October 2022 the retained earnings brought forward have been decreased by £4,225.00. Being the deferred tax liability as at 1st November 2021. The profit after tax for the year ended 31st October 2022 has been increased by £818.00 being the deferred tax movement in the year. Retained earnings as at 31st October 2022 have decreased by £3,407.00 being the deferred tax liability brought forward of £4,225.00 less the £818.00 deferred tax movement in the year. |