2023-05-012024-04-302024-04-30false14023041JMM & SONS 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JMM & SONS LIMITED

Registered Number
14023041
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

JMM & SONS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

A E Hayward
J Hayward
M M Hayward

Registered Address

Meadow Farm Broadings Lane
Laneham
Retford
DN22 0NF

Registered Number

14023041 (England and Wales)
JMM & SONS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,401,4222,384,233
2,401,4222,384,233
Current assets
Stocks488,860-
Debtors563,397163,451
Cash at bank and on hand193,50240,625
345,759204,076
Creditors amounts falling due within one year6(358,335)(391,792)
Net current assets (liabilities)(12,576)(187,716)
Total assets less current liabilities2,388,8462,196,517
Creditors amounts falling due after one year7(747,146)(789,098)
Provisions for liabilities9(24,279)(14,755)
Net assets1,617,4211,392,664
Capital and reserves
Called up share capital1,334,8601,334,860
Profit and loss account282,56157,804
Shareholders' funds1,617,4211,392,664
The financial statements were approved and authorised for issue by the Board of Directors on 7 October 2024, and are signed on its behalf by:
J Hayward
Director
Registered Company No. 14023041
JMM & SONS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Vehicles25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 May 232,246,675134,60028,2231,7642,411,262
Additions-2,25055,194-57,444
Disposals--(5,750)-(5,750)
At 30 April 242,246,675136,85077,6671,7642,462,956
Depreciation and impairment
At 01 May 23-19,5317,05744127,029
Charge for year-17,59918,01333135,943
On disposals--(1,438)-(1,438)
At 30 April 24-37,13023,63277261,534
Net book value
At 30 April 242,246,67599,72054,0359922,401,422
At 30 April 232,246,675115,06921,1661,3232,384,233
4.Stocks

2024

2023

££
Work in progress88,860-
Total88,860-
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables8,925111,126
Other debtors54,47252,325
Total63,397163,451
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,59244,781
Bank borrowings and overdrafts38,90034,600
Taxation and social security89,90657,958
Finance lease and HP contracts4,4484,448
Other creditors209,738248,505
Accrued liabilities and deferred income13,7511,500
Total358,335391,792
The bank borrowings are a secured creditor.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts744,495782,743
Other creditors2,6516,355
Total747,146789,098
The bank borrowings are a secured creditor.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts2,6516,355
The hire purchase contracts are secured on the assets to which they relate.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)24,27914,755
Total24,27914,755
10.Related party transactions
At the balance sheet date, the amount owed to Poultry Site Services Limited, a company of which the directors J Hayward and M Hayward are also directors, was £68,099 (2023 - £188,076).