Registered number
04996385
JDM Accountancy Limited
Filleted Accounts
31 December 2023
JDM Accountancy Limited
Registered number: 04996385
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 29,051 56,013
Tangible assets 4 3,601 3,431
32,652 59,444
Current assets
Debtors 5 80,438 72,092
Cash at bank and in hand 17,858 24,158
98,296 96,250
Creditors: amounts falling due within one year 6 (72,758) (61,494)
Net current assets 25,538 34,756
Total assets less current liabilities 58,190 94,200
Creditors: amounts falling due after more than one year 7 (58,050) (94,202)
Net assets/(liabilities) 140 (2)
Capital and reserves
Called up share capital 2 2
Profit and loss account 138 (4)
Shareholder's funds 140 (2)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Mulligan
Director
Approved by the board on 24 September 2024
JDM Accountancy Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 150,309
At 31 December 2023 150,309
Amortisation
At 1 January 2023 94,296
Provided during the year 26,962
At 31 December 2023 121,258
Net book value
At 31 December 2023 29,051
At 31 December 2022 56,013
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 9,101
Additions 1,430
At 31 December 2023 10,531
Depreciation
At 1 January 2023 5,670
Charge for the year 1,260
At 31 December 2023 6,930
Net book value
At 31 December 2023 3,601
At 31 December 2022 3,431
5 Debtors 2023 2022
£ £
Trade debtors 38,538 31,559
Other debtors 41,900 40,533
80,438 72,092
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,114 11,244
Trade creditors 122 682
Taxation and social security costs 14,913 8,959
Other creditors 46,609 40,609
72,758 61,494
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,281 24,172
Other creditors 43,769 70,030
58,050 94,202
8 Other information
JDM Accountancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Barn, Bangle Farm
Stoney Lane, Chantry
Frome
Somerset
BA11 3LH
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