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REGISTERED NUMBER: 06114266 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

J M CAR SALES LIMITED

J M CAR SALES LIMITED (REGISTERED NUMBER: 06114266)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J M CAR SALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs N Morris
J M Morris





SECRETARY: Mrs N Morris





REGISTERED OFFICE: 2 Platt Lane
Westhoughton
Bolton
Lancashire
BL5 3HG





REGISTERED NUMBER: 06114266 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

J M CAR SALES LIMITED (REGISTERED NUMBER: 06114266)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,334 2,106

CURRENT ASSETS
Stocks 177,365 143,575
Cash at bank 22,374 14,208
199,739 157,783
CREDITORS
Amounts falling due within one year 5 109,782 100,497
NET CURRENT ASSETS 89,957 57,286
TOTAL ASSETS LESS CURRENT
LIABILITIES

91,291

59,392

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 91,191 59,292
SHAREHOLDERS' FUNDS 91,291 59,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

J M CAR SALES LIMITED (REGISTERED NUMBER: 06114266)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 16 September 2024 and were signed on its behalf by:




Mrs N Morris - Director



J M Morris - Director


J M CAR SALES LIMITED (REGISTERED NUMBER: 06114266)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

J M Car Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

J M CAR SALES LIMITED (REGISTERED NUMBER: 06114266)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 March 2023 4,531
Additions 583
At 29 February 2024 5,114
DEPRECIATION
At 1 March 2023 2,425
Charge for year 1,355
At 29 February 2024 3,780
NET BOOK VALUE
At 29 February 2024 1,334
At 28 February 2023 2,106

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other loans 22,666 32,725
Credit card 8,618 3,450
Tax 26,691 17,253
Social security and other taxes 106 1,559
VAT 2,147 1,912
Directors current account 46,072 40,116
Accrued expenses 3,482 3,482
109,782 100,497

6. RELATED PARTY DISCLOSURES

During the year, total dividends of £32,000 (2023 - £28,000) were paid to the directors .