3 01/01/2023 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 05292158 2023-01-01 2023-12-31 05292158 2023-12-31 05292158 2022-12-31 05292158 2022-01-01 2022-12-31 05292158 2022-12-31 05292158 2021-12-31 05292158 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 05292158 core:PlantMachinery 2023-01-01 2023-12-31 05292158 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 05292158 core:MotorVehicles 2023-01-01 2023-12-31 05292158 bus:Director1 2023-01-01 2023-12-31 05292158 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 05292158 core:PlantMachinery 2022-12-31 05292158 core:FurnitureFittingsToolsEquipment 2022-12-31 05292158 core:MotorVehicles 2022-12-31 05292158 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 05292158 core:PlantMachinery 2023-12-31 05292158 core:FurnitureFittingsToolsEquipment 2023-12-31 05292158 core:MotorVehicles 2023-12-31 05292158 core:WithinOneYear 2023-12-31 05292158 core:WithinOneYear 2022-12-31 05292158 core:AfterOneYear 2023-12-31 05292158 core:AfterOneYear 2022-12-31 05292158 core:ShareCapital 2023-12-31 05292158 core:ShareCapital 2022-12-31 05292158 core:RetainedEarningsAccumulatedLosses 2023-12-31 05292158 core:RetainedEarningsAccumulatedLosses 2022-12-31 05292158 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 05292158 core:PlantMachinery 2022-12-31 05292158 core:FurnitureFittingsToolsEquipment 2022-12-31 05292158 core:MotorVehicles 2022-12-31 05292158 bus:SmallEntities 2023-01-01 2023-12-31 05292158 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05292158 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05292158 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05292158 bus:FullAccounts 2023-01-01 2023-12-31
Company registration number: 05292158
JLM Ltd
Unaudited filleted financial statements
31 December 2023
JLM Ltd
Contents
Statement of financial position
Notes to the financial statements
JLM Ltd
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 148,728 172,096
_______ _______
148,728 172,096
Current assets
Stocks - 8,487
Debtors 6 36,336 3,021
Cash at bank and in hand 4,047 45,730
_______ _______
40,383 57,238
Creditors: amounts falling due
within one year 7 ( 102,137) ( 112,901)
_______ _______
Net current liabilities ( 61,754) ( 55,663)
_______ _______
Total assets less current liabilities 86,974 116,433
Creditors: amounts falling due
after more than one year 8 ( 42,031) ( 71,298)
Provisions for liabilities ( 28,258) ( 32,698)
_______ _______
Net assets 16,685 12,437
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 15,685 11,437
_______ _______
Shareholders funds 16,685 12,437
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 September 2024 , and are signed on behalf of the board by:
Mr J Mallender
Director
Company registration number: 05292158
JLM Ltd
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Town Hill Laithe Farm, Cam Lane, Thornton in Craven, Skipton, BD23 3SX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 6 % reducing balance
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 January 2023 6,157 190,890 1,224 58,664 256,935
Additions - 33,233 - - 33,233
Disposals - ( 5,162) - ( 29,989) ( 35,151)
_______ _______ _______ _______ _______
At 31 December 2023 6,157 218,961 1,224 28,675 255,017
_______ _______ _______ _______ _______
Depreciation
At 1 January 2023 2,922 65,991 465 15,461 84,839
Charge for the year 194 20,098 114 5,642 26,048
Disposals - ( 1,599) - ( 2,999) ( 4,598)
_______ _______ _______ _______ _______
At 31 December 2023 3,116 84,490 579 18,104 106,289
_______ _______ _______ _______ _______
Carrying amount
At 31 December 2023 3,041 134,471 645 10,571 148,728
_______ _______ _______ _______ _______
At 31 December 2022 3,235 124,899 759 43,203 172,096
_______ _______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 32,420 360
Other debtors 3,916 2,661
_______ _______
36,336 3,021
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 10,729 15,729
Trade creditors 13,738 28,243
Corporation tax 781 -
Social security and other taxes 699 4,313
Other creditors 76,190 64,616
_______ _______
102,137 112,901
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 11,332 17,732
Other creditors 30,699 53,566
_______ _______
42,031 71,298
_______ _______