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REGISTERED NUMBER: 13164202 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

NJM Inc Limited

NJM Inc Limited (Registered number: 13164202)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NJM Inc Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Miss N J Moodie





REGISTERED OFFICE: 46 Upper Norwood Street
Cheltenham
United Kingdom
Gloucestershire
GL53 0EA





REGISTERED NUMBER: 13164202 (England and Wales)





ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS

NJM Inc Limited (Registered number: 13164202)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 200,000 187,161

CURRENT ASSETS
Cash at bank 2,416 3,462

CREDITORS
Amounts falling due within one year 5 177,888 184,595
NET CURRENT LIABILITIES (175,472 ) (181,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,528

6,028

PROVISIONS FOR LIABILITIES 2,439 -
NET ASSETS 22,089 6,028

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 6 10,400 -
Retained earnings 11,589 5,928
SHAREHOLDERS' FUNDS 22,089 6,028

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 16 October 2024 and were signed by:




Miss N J Moodie - Director


NJM Inc Limited (Registered number: 13164202)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

NJM Inc Limited 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.

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 as modified by the revaluation of certain assets.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 April 2022.

Turnover
Turnover represents rental income due for the accounting period from the investment property.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

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 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.

Going concern
Despite net current liabilities of £175,472 at 31 March 2024 (2023 - £181,133), the financial statements have been prepared on a going concern basis. The director has reviewed the future cash flows of the company and has expressed her intention to financially support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

NJM Inc Limited (Registered number: 13164202)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2023 187,161
Revaluations 12,839
At 31 March 2024 200,000
Net book value
At 31 March 2024 200,000
At 31 March 2023 187,161

After reviewing the local property market and making enquiries with local property agents, the director has determined that the fair value of the investment property has increased as reflected above.

If investment property had not been revalued it would have been included at the historical cost of £187,161 (2023 - £187,161).

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Taxation and social security 1,562 1,390
Other creditors 176,326 183,205
177,888 184,595

6. RESERVES
Fair
value
reserve
£   
Fair value gains 10,400

At 31 March 2024 10,400

7. RELATED PARTY DISCLOSURES

Miss N J Moodie
Director

The director has loaned funds to the company to assist with the purchase of the investment property. At 31 March 2024, the company owed the director £175,486 (2023 - £181,644). The loan is interest free and has no fixed repayment terms.

NJM Inc Limited (Registered number: 13164202)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. FIRST YEAR ADOPTION

This is the first year that the company has presented its financial statements under Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council.

The last financial statements, for the year ended 31 March 2023, were prepared under Financial Reporting Standard 105 (FRS 105). The transition date to FRS 102 is therefore 1 April 2022.

Adopting FRS 102 has given rise to the following transition adjustment:

- The depreciation charged on the investment property has been reversed so that the investment property is shown at its fair value.