Company Registration No. 13202977 (England and Wales)
JMT PAVING LTD
Unaudited accounts
for the period from 1 March 2023 to 28 February 2024
JMT PAVING LTD
Unaudited accounts
Contents
JMT PAVING LTD
Company Information
for the period from 1 March 2023 to 28 February 2024
Directors
Josh Thomas
Robyn Barnes
Company Number
13202977 (England and Wales)
Registered Office
112-113 HIGH STREET
LINCOLN
LN5 7PY
UNITED KINGDOM
Accountants
M D Darby FCPA, CPAA, FIAB, ACCA/Cert:IFR, IFRS, IPSAS, IA
Templar Accounting & Business Support
Services Limited (Incorp: Blake and Co )
112 - 113 High Street,
Lincoln, Lincolnshire
LN5 7PY
JMT PAVING LTD
Statement of financial position
as at 28 February 2024
Tangible assets
28,454
21,337
Cash at bank and in hand
53,367
9,757
Creditors: amounts falling due within one year
(56,996)
(34,274)
Net current assets
38,485
1,037
Total assets less current liabilities
66,939
22,374
Creditors: amounts falling due after more than one year
(6,224)
-
Provisions for liabilities
Deferred tax
(5,172)
(3,331)
Called up share capital
2
2
Profit and loss account
55,541
19,041
Shareholders' funds
55,543
19,043
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by
Josh Thomas
Director
Company Registration No. 13202977
JMT PAVING LTD
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
JMT PAVING LTD is a private company, limited by shares, registered in England and Wales, registration number 13202977. The registered office is 112-113 HIGH STREET, LINCOLN, LN5 7PY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
10% Reducing balance
Computer equipment
30% Reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
JMT PAVING LTD
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2023
4,360
21,750
90
2,079
28,279
Additions
-
16,450
-
-
16,450
At 28 February 2024
4,360
38,200
90
2,079
44,729
At 1 March 2023
872
5,437
9
624
6,942
Charge for the period
698
8,191
8
436
9,333
At 28 February 2024
1,570
13,628
17
1,060
16,275
At 28 February 2024
2,790
24,572
73
1,019
28,454
At 28 February 2023
3,488
16,313
81
1,455
21,337
Amounts falling due within one year
Other debtors
31,556
19,857
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,000
-
Taxes and social security
11,228
-
Loans from directors
1,839
13,717
Deferred income
31,556
19,857
7
Creditors: amounts falling due after more than one year
2024
2023
Lloyds Bank Loan - 24mth
Yr. 2 £6224
JMT PAVING LTD
Notes to the Accounts
for the period from 1 March 2023 to 28 February 2024
8
Deferred taxation
2024
2023
Accelerated capital allowances
5,172
3,331
Provision at start of period
3,331
-
Charged to the profit and loss account
1,841
3,331
Provision at end of period
5,172
3,331
A deferred taxation reserve of some £5,172 (cumulative) due to accelerated capital allowances.
This reserve will reverse in future periods and create a tax liability at the prevailing rate on the day.
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the period the average number of employees was 2 (2023: 2).