Company Registration No. 10637581 (England and Wales)
JM Developments (Ilkley) Ltd
Unaudited accounts
for the period from 1 March 2023 to 31 December 2023
JM Developments (Ilkley) Ltd
Unaudited accounts
Contents
JM Developments (Ilkley) Ltd
Company Information
for the period from 1 March 2023 to 31 December 2023
Company Number
10637581 (England and Wales)
Registered Office
The Sidings Station Approach
Ben Rhydding
Ilkley
West Yorkshire
LS29 8EB
Accountants
Red Rose Accountancy Services Ltd
Arran
Yew Tree Road
Grange-over-Sands
Cumbria
LA11 7AA
JM Developments (Ilkley) Ltd
Statement of financial position
as at 31 December 2023
Tangible assets
19,167
19,900
Inventories
543,868
485,138
Cash at bank and in hand
1,026
170
Creditors: amounts falling due within one year
(174,277)
(105,758)
Net current assets
374,455
380,417
Total assets less current liabilities
393,622
400,317
Creditors: amounts falling due after more than one year
(407,000)
(407,000)
Net liabilities
(13,378)
(6,683)
Called up share capital
100
100
Profit and loss account
(13,478)
(6,783)
Shareholders' funds
(13,378)
(6,683)
For the period ending 31 December 2023 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 director acknowledges his 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 and authorised for issue on 6 September 2024 and were signed on its behalf by
J D Mawby
Director
Company Registration No. 10637581
JM Developments (Ilkley) Ltd
Notes to the Accounts
for the period from 1 March 2023 to 31 December 2023
JM Developments (Ilkley) Ltd is a private company, limited by shares, registered in England and Wales, registration number 10637581. The registered office is The Sidings Station Approach, Ben Rhydding, Ilkley, West Yorkshire, LS29 8EB.
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
25% on the reducing balance basis
Motor vehicles
10% on cost
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
JM Developments (Ilkley) Ltd
Notes to the Accounts
for the period from 1 March 2023 to 31 December 2023
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 March 2023
13,500
16,060
29,560
At 31 December 2023
13,500
17,833
31,333
At 1 March 2023
5,738
3,922
9,660
Charge for the period
1,125
1,381
2,506
At 31 December 2023
6,863
5,303
12,166
At 31 December 2023
6,637
12,530
19,167
At 28 February 2023
7,762
12,138
19,900
5
Debtors
31/12/2023
28/02/2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
31/12/2023
28/02/2023
Loans from directors
153,517
97,927
The director's loan account is interest free and repayable on demand.
7
Creditors: amounts falling due after more than one year
31/12/2023
28/02/2023
Loans from directors
407,000
407,000
8
Share capital
31/12/2023
28/02/2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the period the average number of employees was 1 (28/02/2023: 1).