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REGISTERED NUMBER: 08984501 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

JMS BREAKERS LTD

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JMS BREAKERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J R Dobson
J P Timmins





SECRETARY:





REGISTERED OFFICE: Unit 13
Tweedale Recycling Centre
Madeley
Telford
Shropshire
TF7 4JT





REGISTERED NUMBER: 08984501 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 347,357 331,042
347,357 331,042

CURRENT ASSETS
Stocks 54,125 52,760
Debtors 6 121,824 72,573
Cash at bank and in hand 413,041 354,790
588,990 480,123
CREDITORS
Amounts falling due within one year 7 377,603 320,048
NET CURRENT ASSETS 211,387 160,075
TOTAL ASSETS LESS CURRENT
LIABILITIES

558,744

491,117

CREDITORS
Amounts falling due after more than one
year

8

(118,477

)

(118,237

)

PROVISIONS FOR LIABILITIES 10 (84,000 ) (77,000 )
NET ASSETS 356,267 295,880

CAPITAL AND RESERVES
Called up share capital 11 200 200
Retained earnings 356,067 295,680
SHAREHOLDERS' FUNDS 356,267 295,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:




J R Dobson - Director



J P Timmins - Director


JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

JMS Breakers Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 10% 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 15 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 197,000
AMORTISATION
At 1 June 2023
and 31 May 2024 197,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 625,878
Additions 162,410
Disposals (110,200 )
At 31 May 2024 678,088
DEPRECIATION
At 1 June 2023 294,836
Charge for year 78,829
Eliminated on disposal (42,934 )
At 31 May 2024 330,731
NET BOOK VALUE
At 31 May 2024 347,357
At 31 May 2023 331,042

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023 85,466
Additions 79,490
At 31 May 2024 164,956
DEPRECIATION
At 1 June 2023 21,366
Charge for year 16,496
At 31 May 2024 37,862
NET BOOK VALUE
At 31 May 2024 127,094
At 31 May 2023 64,100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,259 39,129
Other debtors 31,565 33,444
121,824 72,573

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,000 40,000
Hire purchase contracts 31,319 15,417
Trade creditors 42,930 45,519
Taxation and social security 219,700 172,802
Other creditors 43,654 46,310
377,603 320,048

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 40,000 80,000
Hire purchase contracts 78,477 38,237
118,477 118,237

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 80,000 120,000
Hire purchase contracts 109,796 53,654
189,796 173,654

Bank borrowings are secured by a fixed and floating charge over all the property and undertakings of the company.

Hire Purchase creditors are secured by a charge over the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 84,000 77,000

Deferred
tax
£   
Balance at 1 June 2023 77,000
Provided during year 7,000
Balance at 31 May 2024 84,000

JMS BREAKERS LTD (REGISTERED NUMBER: 08984501)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1.00 100 100
100 Ordinary 'B' £1.00 100 100
200 200