2023-01-012023-12-312023-12-31falseNI031661JPM CONTRACTS 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JPM CONTRACTS LIMITED

Registered Number
NI031661
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 December 2023

JPM CONTRACTS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Colin Doherty
Colum Joseph McNicholl
James McNicholl

Registered Address

79 Main Street
Dungiven
Derry
BT47 4LE

Registered Number

NI031661 (Northern Ireland)
JPM CONTRACTS LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3743,311727,434
743,311727,434
Current assets
Debtors1,622,1411,842,882
Cash at bank and on hand1,157,487855,745
2,779,6282,698,627
Creditors amounts falling due within one year(1,267,238)(1,287,402)
Net current assets (liabilities)1,512,3901,411,225
Total assets less current liabilities2,255,7012,138,659
Creditors amounts falling due after one year(47,786)(36,283)
Provisions for liabilities(87,473)(82,780)
Net assets2,120,4422,019,596
Capital and reserves
Called up share capital16,98116,981
Profit and loss account2,103,4612,002,615
Shareholders' funds2,120,4422,019,596
The financial statements were approved and authorised for issue by the Board of Directors on 3 September 2024, and are signed on its behalf by:
Colum Joseph McNicholl
Director
Registered Company No. NI031661
JPM CONTRACTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Land and Property - 2% straight line Plant and machinery - 20% straight line Fixtures, fittings and office equipment - 20% straight line Motor vehicles - 25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year2830
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 232,356,632
Additions113,285
At 31 December 232,469,917
Depreciation and impairment
At 01 January 231,629,198
Charge for year97,408
At 31 December 231,726,606
Net book value
At 31 December 23743,311
At 31 December 22727,434