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REGISTERED NUMBER: SC355249 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

JMB TRAVEL LIMITED

JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JMB TRAVEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: M W Bell





SECRETARY: M W Bell





REGISTERED OFFICE: 101 Main Street
Bogside
Newmains
Wishaw
ML2 9BG





REGISTERED NUMBER: SC355249 (Scotland)





ACCOUNTANTS: Galbraith Pritchards
Chartered Accountants
25 Bloomgate
Lanark
Lanarkshire
ML11 9ET

JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,277,341 2,347,399

CURRENT ASSETS
Stocks 8,108 11,380
Debtors 5 510,832 515,434
Cash at bank and in hand 2,291,509 2,915,062
2,810,449 3,441,876
CREDITORS
Amounts falling due within one year 6 726,832 927,306
NET CURRENT ASSETS 2,083,617 2,514,570
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,360,958

4,861,969

CREDITORS
Amounts falling due after more than one
year

7

(1,211,878

)

(1,381,702

)

PROVISIONS FOR LIABILITIES (547,851 ) (584,968 )
NET ASSETS 2,601,229 2,895,299

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,601,227 2,895,297
2,601,229 2,895,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 26 September 2024 and were signed by:





M W Bell - Director


JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

JMB Travel Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance and 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.

Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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.

JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


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 82 (2022 - 77 ) .

4. TANGIBLE FIXED ASSETS
Tenants Plant and
improvements equipment Buses
£    £    £   
COST
At 1 January 2023 109,465 507,763 3,093,032
Additions 73,571 21,252 358,500
At 31 December 2023 183,036 529,015 3,451,532
DEPRECIATION
At 1 January 2023 37,463 206,178 1,216,596
Charge for year 10,547 48,252 446,988
At 31 December 2023 48,010 254,430 1,663,584
NET BOOK VALUE
At 31 December 2023 135,026 274,585 1,787,948
At 31 December 2022 72,002 301,585 1,876,436

JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor
cars Vans Totals
£    £    £   
COST
At 1 January 2023 108,703 102,148 3,921,111
Additions 9,000 - 462,323
At 31 December 2023 117,703 102,148 4,383,434
DEPRECIATION
At 1 January 2023 56,341 57,134 1,573,712
Charge for year 15,341 11,253 532,381
At 31 December 2023 71,682 68,387 2,106,093
NET BOOK VALUE
At 31 December 2023 46,021 33,761 2,277,341
At 31 December 2022 52,362 45,014 2,347,399

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Buses
£   
COST
At 1 January 2023 2,724,561
Additions 331,000
Transfer to ownership (250,000 )
At 31 December 2023 2,805,561
DEPRECIATION
At 1 January 2023 1,022,638
Charge for year 390,201
Transfer to ownership (168,080 )
At 31 December 2023 1,244,759
NET BOOK VALUE
At 31 December 2023 1,560,802
At 31 December 2022 1,701,923

JMB TRAVEL LIMITED (REGISTERED NUMBER: SC355249)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 36,652 35,893
Other debtors 827 702
Taxation 82,590 82,590
Directors' loan accounts 209,600 -
VAT 129,311 280,767
Prepayments 51,852 115,482
510,832 515,434

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bounce back loan 25,833 34,721
Hire purchase contracts 475,087 623,856
Trade creditors 97,365 142,294
Tax 40,466 41,632
Social security and other taxes 53,942 43,904
Other loans 13,504 13,504
Directors' loan accounts - 902
Accrued expenses 20,635 26,493
726,832 927,306

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Hire purchase contracts 1,211,878 1,381,702

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the director and his wife owed the company £209,599.

9. ULTIMATE CONTROLLING PARTY

The company has no ultimate controlling party as both the director and his wife own 50% of the issued share capital each.