BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of motor vehicle repairs. 19 September 2024 08764427 2023-12-31 08764427 2022-12-31 08764427 2021-12-31 08764427 2023-01-01 2023-12-31 08764427 2022-01-01 2022-12-31 08764427 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08764427 uk-curr:PoundSterling 2023-01-01 2023-12-31 08764427 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08764427 uk-bus:AbridgedAccounts 2023-01-01 2023-12-31 08764427 uk-core:ShareCapital 2023-12-31 08764427 uk-core:ShareCapital 2022-12-31 08764427 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 08764427 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 08764427 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 08764427 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 08764427 uk-bus:FRS102 2023-01-01 2023-12-31 08764427 uk-core:PlantMachinery 2023-01-01 2023-12-31 08764427 uk-core:MotorVehicles 2023-01-01 2023-12-31 08764427 2023-01-01 2023-12-31 08764427 uk-bus:Director1 2023-01-01 2023-12-31 08764427 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
JMK Autos Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 December 2023



JMK Autos Limited
Company Registration Number: 08764427
ABRIDGED BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 4,288 3,378
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Current Assets
Stocks 300 300
Debtors 4,345 5,074
Cash at bank and in hand 142,518 116,647
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147,163 122,021
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Creditors: amounts falling due within one year (47,059) (39,442)
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Net Current Assets 100,104 82,579
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Total Assets less Current Liabilities 104,392 85,957
 
Creditors:
amounts falling due after more than one year (36,853) (43,372)
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Net Assets 67,539 42,585
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Capital and Reserves
Called up share capital 2 2
Retained earnings 67,537 42,583
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Shareholders' Funds 67,539 42,585
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 19 September 2024
           
           
________________________________          
Mr L Dennett          
Director          
           



JMK Autos Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
JMK Autos Limited is a company limited by shares incorporated in the United Kingdom
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
  Motor vehicles - 25% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 3, (2022 - 2).
 
  2023 2022
  Number Number
 
Director 1 1
Employee 2 1
  ───────── ─────────
  3 2
  ═════════ ═════════
         
4. Tangible assets
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 January 2023 3,310 23,631 26,941
Additions 1,900 - 1,900
  ───────── ───────── ─────────
At 31 December 2023 5,210 23,631 28,841
  ───────── ───────── ─────────
Depreciation
At 1 January 2023 2,757 20,806 23,563
Charge for the financial year 534 456 990
  ───────── ───────── ─────────
At 31 December 2023 3,291 21,262 24,553
  ───────── ───────── ─────────
Net book value
At 31 December 2023 1,919 2,369 4,288
  ═════════ ═════════ ═════════
At 31 December 2022 553 2,825 3,378
  ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.