JMTECHNICAL DESIGNS LTD

Company Registration Number:
12450241 (England and Wales)

Unaudited statutory accounts for the year ended 27 February 2023

Period of accounts

Start date: 1 March 2022

End date: 27 February 2023

JMTECHNICAL DESIGNS LTD

Contents of the Financial Statements

for the Period Ended 27 February 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

JMTECHNICAL DESIGNS LTD

Directors' report period ended 27 February 2023

The directors present their report with the financial statements of the company for the period ended 27 February 2023

Principal activities of the company

Design and installation of complex automation systems for the manufacturing and aviation industry



Directors

The director shown below has held office during the whole of the period from
1 March 2022 to 27 February 2023

James Drew Williams


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
20 April 2024

And signed on behalf of the board by:
Name: James Drew Williams
Status: Director

JMTECHNICAL DESIGNS LTD

Balance sheet

As at 27 February 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 1,597,000 1,774,900
Total fixed assets: 1,597,000 1,774,900
Current assets
Stocks:   0 0
Debtors: 4 0 23,080
Cash at bank and in hand: 38,507 0
Total current assets: 38,507 23,080
Creditors: amounts falling due within one year: 5 ( 6,418 ) ( 5,061 )
Net current assets (liabilities): 32,089 18,019
Total assets less current liabilities: 1,629,089 1,802,919
Provision for liabilities: ( 241,234 ) ( 337,231 )
Total net assets (liabilities): 1,387,855 1,465,688
Capital and reserves
Called up share capital: 10,000 10,000
Profit and loss account: 1,377,855 1,455,688
Total Shareholders' funds: 1,387,855 1,465,688

The notes form part of these financial statements

JMTECHNICAL DESIGNS LTD

Balance sheet statements

For the year ending 27 February 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 20 April 2024
and signed on behalf of the board by:

Name: James Drew Williams
Status: Director

The notes form part of these financial statements

JMTECHNICAL DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 27 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

    Intangible fixed assets amortisation policy

    Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity. Development costs 10% - Straight Line A period of 10 years has been deemed appropriate for the useful economic life of the intangible assets by way of the nature and expected future use of the assets.

JMTECHNICAL DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 27 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 1

JMTECHNICAL DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 27 February 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 March 2022 1,774,900 1,774,900
Additions
Disposals
Revaluations
Transfers
At 27 February 2023 1,774,900 1,774,900
Amortisation
At 1 March 2022 0 0
Charge for year 177,900 177,900
On disposals
Other adjustments
At 27 February 2023 177,900 177,900
Net book value
At 27 February 2023 1,597,000 1,597,000
At 28 February 2022 1,774,900 1,774,900

JMTECHNICAL DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 27 February 2023

4. Debtors

2023 2022
£ £
Trade debtors 0
Prepayments and accrued income 0
Other debtors 0 23,080
Total 0 23,080

JMTECHNICAL DESIGNS LTD

Notes to the Financial Statements

for the Period Ended 27 February 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 5,061
Taxation and social security 6,418
Total 6,418 5,061