BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is grocery retail with connected fuel station 31 July 2024 43 43 NI656641 2023-10-31 NI656641 2022-10-31 NI656641 2021-10-31 NI656641 2022-11-01 2023-10-31 NI656641 2021-11-01 2022-10-31 NI656641 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI656641 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI656641 uk-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI656641 uk-bus:AbridgedAccounts 2022-11-01 2023-10-31 NI656641 uk-core:ShareCapital 2023-10-31 NI656641 uk-core:ShareCapital 2022-10-31 NI656641 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI656641 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI656641 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI656641 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI656641 uk-bus:FRS102 2022-11-01 2023-10-31 NI656641 uk-core:LandBuildings 2022-11-01 2023-10-31 NI656641 uk-core:PlantMachinery 2022-11-01 2023-10-31 NI656641 uk-core:MotorVehicles 2022-11-01 2023-10-31 NI656641 2022-11-01 2023-10-31 NI656641 uk-bus:Director1 2022-11-01 2023-10-31 NI656641 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
Company Registration Number: NI656641
 
 
JMM Retail Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 October 2023
JMM Retail Ltd
Company Registration Number: NI656641
ABRIDGED BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Intangible assets 4 66,000 69,000
Tangible assets 5 830,271 843,266
───────── ─────────
Fixed Assets 896,271 912,266
───────── ─────────
 
Current Assets
Stocks 208,139 170,115
Debtors 27,218 35,571
Cash and cash equivalents 681,037 650,242
───────── ─────────
916,394 855,928
───────── ─────────
Creditors: amounts falling due within one year (535,638) (591,729)
───────── ─────────
Net Current Assets 380,756 264,199
───────── ─────────
Total Assets less Current Liabilities 1,277,027 1,176,465
 
Creditors:
amounts falling due after more than one year (477,452) (547,780)
 
Provisions for liabilities (68,239) (51,023)
───────── ─────────
Net Assets 731,336 577,662
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 731,335 577,661
───────── ─────────
Equity attributable to owners of the company 731,336 577,662
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 31 July 2024
           
           
________________________________          
Naomi Curry          
Director          
           



JMM Retail Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
JMM Retail Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI656641. The registered office of the company is 64 Curr Road, Beragh, Omagh, Co Tyrone, BT79 0QW, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is grocery retail with connected fuel station The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Intangible assets
Intangible assets are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 25 years.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% Straight line
  Plant and machinery - 20% Straight line
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 43, (2022 -34).
 
  2023 2022
  Number Number
 
Employees 43 43
  ═════════ ═════════
       
4. Intangible assets
     
    Total
  £ £
Cost
At 1 November 2022 75,000 75,000
  ───────── ─────────
 
At 31 October 2023 75,000 75,000
  ───────── ─────────
Amortisation
At 1 November 2022 6,000 6,000
Charge for financial year 3,000 3,000
  ───────── ─────────
At 31 October 2023 9,000 9,000
  ───────── ─────────
Net book value
At 31 October 2023 66,000 66,000
  ═════════ ═════════
At 31 October 2022 69,000 69,000
  ═════════ ═════════
           
5. Tangible assets
  Land and Plant and Motor Total
  buildings machinery vehicles  
  freehold      
  £ £ £ £
Cost
At 1 November 2022 608,733 521,459 17,250 1,147,442
Additions - 133,653 - 133,653
  ───────── ───────── ───────── ─────────
At 31 October 2023 608,733 655,112 17,250 1,281,095
  ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2022 34,008 266,718 3,450 304,176
Charge for the financial year 12,175 131,023 3,450 146,648
  ───────── ───────── ───────── ─────────
At 31 October 2023 46,183 397,741 6,900 450,824
  ───────── ───────── ───────── ─────────
Net book value
At 31 October 2023 562,550 257,371 10,350 830,271
  ═════════ ═════════ ═════════ ═════════
At 31 October 2022 574,725 254,741 13,800 843,266
  ═════════ ═════════ ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.