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REGISTERED NUMBER: SC461275 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

JM CONTRACTS (GLASGOW) LIMITED

JM CONTRACTS (GLASGOW) LIMITED (REGISTERED NUMBER: SC461275)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


JM CONTRACTS (GLASGOW) LIMITED (REGISTERED NUMBER: SC461275)

ABRIDGED BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,625 51,765

CURRENT ASSETS
Debtors 43,541 30,954
Cash at bank 21,965 6,974
65,506 37,928
CREDITORS
Amounts falling due within one year 84,048 76,830
NET CURRENT LIABILITIES (18,542 ) (38,902 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,083

12,863

CREDITORS
Amounts falling due after more than one
year

(9,945

)

(21,196

)

PROVISIONS FOR LIABILITIES (10,983 ) (10,983 )
NET ASSETS/(LIABILITIES) 5,155 (19,316 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 5,153 (19,318 )
SHAREHOLDERS' FUNDS 5,155 (19,316 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

JM CONTRACTS (GLASGOW) LIMITED (REGISTERED NUMBER: SC461275)

ABRIDGED BALANCE SHEET - continued
31 October 2023



The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





J McNeish - Director


JM CONTRACTS (GLASGOW) LIMITED (REGISTERED NUMBER: SC461275)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Jm Contracts (Glasgow) Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC461275

Registered office: 22 Backbrae Street
Kilsyth
Glasgow
G65 0NH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JM CONTRACTS (GLASGOW) LIMITED (REGISTERED NUMBER: SC461275)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 85,790
Additions 3,213
At 31 October 2023 89,003
DEPRECIATION
At 1 November 2022 34,025
Charge for year 10,353
At 31 October 2023 44,378
NET BOOK VALUE
At 31 October 2023 44,625
At 31 October 2022 51,765

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 November 2022
and 31 October 2023 84,915
DEPRECIATION
At 1 November 2022 32,833
Charge for year 7,487
At 31 October 2023 40,320
NET BOOK VALUE
At 31 October 2023 44,595
At 31 October 2022 52,082