IRIS Accounts Production v24.2.0.383 SC250195 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC2501952022-12-31SC2501952023-12-31SC2501952023-01-012023-12-31SC2501952021-12-31SC2501952022-01-012022-12-31SC2501952022-12-31SC250195ns16:Scotland2023-01-012023-12-31SC250195ns15:PoundSterling2023-01-012023-12-31SC250195ns11:Director12023-01-012023-12-31SC250195ns11:PrivateLimitedCompanyLtd2023-01-012023-12-31SC250195ns11:SmallEntities2023-01-012023-12-31SC250195ns11:AuditExempt-NoAccountantsReport2023-01-012023-12-31SC250195ns11:SmallCompaniesRegimeForAccounts2023-01-012023-12-31SC250195ns11:FullAccounts2023-01-012023-12-31SC250195ns11:RegisteredOffice2023-01-012023-12-31SC250195ns6:CurrentFinancialInstruments2023-12-31SC250195ns6:CurrentFinancialInstruments2022-12-31SC250195ns6:Non-currentFinancialInstruments2023-12-31SC250195ns6:Non-currentFinancialInstruments2022-12-31SC250195ns6:ShareCapital2023-12-31SC250195ns6:ShareCapital2022-12-31SC250195ns6:RetainedEarningsAccumulatedLosses2023-12-31SC250195ns6:RetainedEarningsAccumulatedLosses2022-12-31SC250195ns6:PlantMachinery2023-01-012023-12-31SC250195ns6:PlantMachinery2022-12-31SC250195ns6:PlantMachinery2023-12-31SC250195ns6:PlantMachinery2022-12-31SC250195ns6:WithinOneYearns6:CurrentFinancialInstruments2023-12-31SC250195ns6:WithinOneYearns6:CurrentFinancialInstruments2022-12-31
REGISTERED NUMBER: SC250195 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

J. C. MARTIN LIMITED

J. C. MARTIN LIMITED (REGISTERED NUMBER: SC250195)






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


J. C. MARTIN LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: S R Millar





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC250195 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

J. C. MARTIN LIMITED (REGISTERED NUMBER: SC250195)

Balance Sheet
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 44,788 28,681

CURRENT ASSETS
Stocks 5,740 15,188
Debtors 5 78,062 111,496
Cash at bank 144,628 102,010
228,430 228,694
CREDITORS
Amounts falling due within one year 6 71,567 91,569
NET CURRENT ASSETS 156,863 137,125
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,651

165,806

CREDITORS
Amounts falling due after more than one
year

7

(28,610

)

(41,619

)

PROVISIONS FOR LIABILITIES (8,296 ) (4,147 )
NET ASSETS 164,745 120,040

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 164,645 119,940
164,745 120,040

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.

J. C. MARTIN LIMITED (REGISTERED NUMBER: SC250195)

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 2 April 2024 and were signed by:





S R Millar - Director


J. C. MARTIN LIMITED (REGISTERED NUMBER: SC250195)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

J. C. MARTIN 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.
Plant and machinery etc - 25% on a reducing balance basis and 15% on a reducing balance basis

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

J. C. MARTIN LIMITED (REGISTERED NUMBER: SC250195)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 67,315
Additions 24,995
At 31 December 2023 92,310
DEPRECIATION
At 1 January 2023 38,634
Charge for year 8,888
At 31 December 2023 47,522
NET BOOK VALUE
At 31 December 2023 44,788
At 31 December 2022 28,681

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 74,546 107,280
Other debtors 3,516 4,216
78,062 111,496

J. C. MARTIN LIMITED (REGISTERED NUMBER: SC250195)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 3,799 3,799
Trade creditors 17,842 50,695
Taxation and social security 33,759 24,008
Other creditors 6,167 3,067
71,567 91,569

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,623 25,833
Hire purchase contracts 11,987 15,786
28,610 41,619