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REGISTERED NUMBER: SC715080 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

JJK AUTOMOTIVE ASSESSORS LIMITED

JJK AUTOMOTIVE ASSESSORS LIMITED (REGISTERED NUMBER: SC715080)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


JJK AUTOMOTIVE ASSESSORS LIMITED

COMPANY INFORMATION
for the year ended 31 MARCH 2024







DIRECTORS: J H McLaughlin
Mrs A McLaughlin





REGISTERED OFFICE: 1103 Aikenhead Road
Kingspark
Glasgow
G44 5SL





REGISTERED NUMBER: SC715080 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

JJK AUTOMOTIVE ASSESSORS LIMITED (REGISTERED NUMBER: SC715080)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,849 3,809

CURRENT ASSETS
Debtors 5 60,865 28,471
Cash at bank 219,681 59,170
280,546 87,641
CREDITORS
Amounts falling due within one year 6 (149,096 ) (52,793 )
NET CURRENT ASSETS 131,450 34,848
TOTAL ASSETS LESS CURRENT
LIABILITIES

137,299

38,657

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 137,199 38,557
SHAREHOLDERS' FUNDS 137,299 38,657

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 September 2024 and were signed on its behalf by:





J H McLaughlin - Director


JJK AUTOMOTIVE ASSESSORS LIMITED (REGISTERED NUMBER: SC715080)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2024

1. STATUTORY INFORMATION

JJK Automotive Assessors Limited is a private company, limited by shares, registered in Scotland, registration number SC715080. The registered office is 1103 Aikenhead Road Kingspark, Glasgow, Scotland, G44 5SL.

The principal activity of the company is automotive assessors.

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.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively.

There are no significant judgements or estimates used in the preparation of these accounts.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Services
Income from services is recognised when performed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 15% on cost

The carrying values of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying values may not be recoverable.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances..

Creditors
Short term trade creditors are measured at the transaction price.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.


JJK AUTOMOTIVE ASSESSORS LIMITED (REGISTERED NUMBER: SC715080)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 4,172
Additions 4,078
At 31 March 2024 8,250
DEPRECIATION
At 1 April 2023 363
Charge for year 2,038
At 31 March 2024 2,401
NET BOOK VALUE
At 31 March 2024 5,849
At 31 March 2023 3,809

JJK AUTOMOTIVE ASSESSORS LIMITED (REGISTERED NUMBER: SC715080)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,865 28,471

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,558 8,613
Taxation and social security 99,514 42,303
Other creditors 19,024 1,877
149,096 52,793

7. RELATED PARTY DISCLOSURES

During the year, total dividends of £85,500 (2023 - £80,550) were paid to the directors .