Caseware UK (AP4) 2023.0.135 2023.0.135 182023-04-01false18falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05171952 2023-04-01 2024-03-31 05171952 2024-03-31 05171952 2022-04-01 2023-03-31 05171952 2023-03-31 05171952 c:Director1 2023-04-01 2024-03-31 05171952 c:Director2 2023-04-01 2024-03-31 05171952 d:PlantMachinery 2023-04-01 2024-03-31 05171952 d:PlantMachinery 2024-03-31 05171952 d:PlantMachinery 2023-03-31 05171952 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05171952 d:FurnitureFittings 2023-04-01 2024-03-31 05171952 d:FurnitureFittings 2024-03-31 05171952 d:FurnitureFittings 2023-03-31 05171952 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05171952 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05171952 d:CurrentFinancialInstruments 2024-03-31 05171952 d:CurrentFinancialInstruments 2023-03-31 05171952 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05171952 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05171952 d:ShareCapital 2024-03-31 05171952 d:ShareCapital 2023-03-31 05171952 d:SharePremium 2024-03-31 05171952 d:SharePremium 2023-03-31 05171952 d:CapitalRedemptionReserve 2024-03-31 05171952 d:CapitalRedemptionReserve 2023-03-31 05171952 d:RetainedEarningsAccumulatedLosses 2024-03-31 05171952 d:RetainedEarningsAccumulatedLosses 2023-03-31 05171952 c:FRS102 2023-04-01 2024-03-31 05171952 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05171952 c:FullAccounts 2023-04-01 2024-03-31 05171952 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 05171952













J & M Sewing Service Ltd

Financial statements
Information for filing with the registrar

31 March 2024




 
J & M Sewing Service Ltd


Balance sheet
At 31 March 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,270
11,622

  
10,270
11,622

Current assets
  

Stocks
  
23,535
28,684

Debtors
 5 
38,159
41,502

Cash at bank and in hand
  
137,035
154,628

  
198,729
224,814

Creditors: amounts falling due within one year
 6 
(133,842)
(145,911)

Net current assets
  
 
 
64,887
 
 
78,903

Total assets less current liabilities
  
75,157
90,525

Provisions for liabilities
  

Deferred tax
  
(2,568)
(2,906)

  
 
 
(2,568)
 
 
(2,906)

Net assets
  
72,589
87,619


Capital and reserves
  

Called up share capital 
  
85
85

Share premium account
  
33,990
33,990

Capital redemption reserve
  
15
15

Profit and loss account
  
38,499
53,529

Shareholders' funds
  
72,589
87,619


1

 
J & M Sewing Service Ltd

    
Balance sheet (continued)
At 31 March 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2024.




S Wroe
T Tiffin
Director
Director

Registered number: 05171952
The notes on pages 3 to 6 form part of these financial statements. 

2

 
J & M Sewing Service Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

1.


General information

J & M Sewing Service Ltd ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 1 Charlotte Square, Newcastle upon Tyne, Tyne & Wear, NE1 4XF.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

 
2.3

Revenue

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 
2.4

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

3

 
J & M Sewing Service Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
reducing balance
Fixtures and fittings
-
15%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing
4

 
J & M Sewing Service Ltd
 

 
Notes to the financial statements
Year ended 31 March 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 : 18).


4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost


At 1 April 2023
24,736
29,536
54,272


Additions
-
349
349



At 31 March 2024

24,736
29,885
54,621



Depreciation


At 1 April 2023
20,075
22,575
42,650


Charge for the year
628
1,073
1,701



At 31 March 2024

20,703
23,648
44,351



Net book value



At 31 March 2024
4,033
6,237
10,270



At 31 March 2023
4,661
6,961
11,622

5

 
J & M Sewing Service Ltd
 
 

Notes to the financial statements
Year ended 31 March 2024

5.


Debtors

2024
2023
£
£


Trade debtors
37,473
40,549

Prepayments and accrued income
686
953

38,159
41,502



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Payments received on account
74,538
78,820

Trade creditors
11,827
16,975

Corporation tax
20,894
24,531

Other taxation and social security
23,260
22,721

Accruals and deferred income
3,323
2,864

133,842
145,911


 
6