Silverfin false false 31/01/2024 01/02/2023 31/01/2024 J A De Maid 21/01/2021 J M De Maid 21/01/2021 S Mcdonald 21/01/2021 R Piddock 21/01/2021 Scott Mcdonald 31 October 2024 The principal activity of the Company during the financial period was the provision of estate agency services. 13151177 2024-01-31 13151177 bus:Director1 2024-01-31 13151177 bus:Director2 2024-01-31 13151177 bus:Director3 2024-01-31 13151177 bus:Director4 2024-01-31 13151177 2023-01-31 13151177 core:CurrentFinancialInstruments 2024-01-31 13151177 core:CurrentFinancialInstruments 2023-01-31 13151177 core:ShareCapital 2024-01-31 13151177 core:ShareCapital 2023-01-31 13151177 core:RetainedEarningsAccumulatedLosses 2024-01-31 13151177 core:RetainedEarningsAccumulatedLosses 2023-01-31 13151177 core:LandBuildings 2023-01-31 13151177 core:OtherPropertyPlantEquipment 2023-01-31 13151177 core:LandBuildings 2024-01-31 13151177 core:OtherPropertyPlantEquipment 2024-01-31 13151177 2022-01-31 13151177 2023-02-01 2024-01-31 13151177 bus:FilletedAccounts 2023-02-01 2024-01-31 13151177 bus:SmallEntities 2023-02-01 2024-01-31 13151177 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13151177 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13151177 bus:Director1 2023-02-01 2024-01-31 13151177 bus:Director2 2023-02-01 2024-01-31 13151177 bus:Director3 2023-02-01 2024-01-31 13151177 bus:Director4 2023-02-01 2024-01-31 13151177 bus:Director5 2023-02-01 2024-01-31 13151177 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 13151177 2022-02-01 2023-01-31 13151177 core:LandBuildings 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 13151177 (England and Wales)

JDM (ELTHAM) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

JDM (ELTHAM) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

JDM (ELTHAM) LIMITED

BALANCE SHEET

As at 31 January 2024
JDM (ELTHAM) LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 19,857 23,134
19,857 23,134
Current assets
Debtors 4 8,820 123
Cash at bank and in hand 2,513 14,875
11,333 14,998
Creditors: amounts falling due within one year 5 ( 154,922) ( 140,160)
Net current liabilities (143,589) (125,162)
Total assets less current liabilities (123,732) (102,028)
Provision for liabilities 6 0 ( 423)
Net liabilities ( 123,732) ( 102,451)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 123,832 ) ( 102,551 )
Total shareholders' deficit ( 123,732) ( 102,451)

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of JDM (Eltham) Limited (registered number: 13151177) were approved and authorised for issue by the Board of Directors on 31 October 2024. They were signed on its behalf by:

Scott Mcdonald
Director
JDM (ELTHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
JDM (ELTHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the periods presented, unless otherwise stated.

General information and basis of accounting

JDM (Eltham) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:
41 High Street
Chislehurst
BR7 5AE
United Kingdom

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' FRS 102, and with the Companies Act 2006.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £123,732. The directors have confirmed that they will continue to support the company through loans if required, and that these loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
The tax expense for the period comprises of current and deferred corporation tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred corporation tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 February 2023 25,250 3,760 29,010
At 31 January 2024 25,250 3,760 29,010
Accumulated depreciation
At 01 February 2023 4,341 1,535 5,876
Charge for the financial year 2,525 752 3,277
At 31 January 2024 6,866 2,287 9,153
Net book value
At 31 January 2024 18,384 1,473 19,857
At 31 January 2023 20,909 2,225 23,134

4. Debtors

2024 2023
£ £
Trade debtors 6,310 0
Other debtors 2,510 123
8,820 123

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 18,465 25,466
Other taxation and social security 6,472 0
Other creditors 129,985 114,694
154,922 140,160

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 423) ( 744)
Credited to the Profit and Loss Account 423 321
At the end of financial year 0 ( 423)

7. Financial commitments

Commitments

The business has other financial commitments not disclosed on the balance sheet in relation to the business premises totalling £102,900 (2023: £117,600).

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to directors 122,871 111,160

The loans from the directors to the company are unsecured, interest free and repayable on demand.