Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue2023-04-01falseNo description of principal activity2225false 04691025 2023-04-01 2024-03-31 04691025 2022-04-01 2023-03-31 04691025 2024-03-31 04691025 2023-03-31 04691025 c:Director1 2023-04-01 2024-03-31 04691025 d:PlantMachinery 2023-04-01 2024-03-31 04691025 d:PlantMachinery 2024-03-31 04691025 d:PlantMachinery 2023-03-31 04691025 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04691025 d:MotorVehicles 2023-04-01 2024-03-31 04691025 d:MotorVehicles 2024-03-31 04691025 d:MotorVehicles 2023-03-31 04691025 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04691025 d:FurnitureFittings 2023-04-01 2024-03-31 04691025 d:FurnitureFittings 2024-03-31 04691025 d:FurnitureFittings 2023-03-31 04691025 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04691025 d:ComputerEquipment 2023-04-01 2024-03-31 04691025 d:ComputerEquipment 2024-03-31 04691025 d:ComputerEquipment 2023-03-31 04691025 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04691025 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04691025 d:CurrentFinancialInstruments 2024-03-31 04691025 d:CurrentFinancialInstruments 2023-03-31 04691025 d:Non-currentFinancialInstruments 2024-03-31 04691025 d:Non-currentFinancialInstruments 2023-03-31 04691025 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04691025 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04691025 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 04691025 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04691025 d:ShareCapital 2024-03-31 04691025 d:ShareCapital 2023-03-31 04691025 d:RetainedEarningsAccumulatedLosses 2024-03-31 04691025 d:RetainedEarningsAccumulatedLosses 2023-03-31 04691025 c:FRS102 2023-04-01 2024-03-31 04691025 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04691025 c:FullAccounts 2023-04-01 2024-03-31 04691025 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04691025 d:WithinOneYear 2024-03-31 04691025 d:WithinOneYear 2023-03-31 04691025 d:BetweenOneFiveYears 2024-03-31 04691025 d:BetweenOneFiveYears 2023-03-31 04691025 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Company registration number: 04691025







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


J.M.J. PRECISION SHEET METAL LIMITED






































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J.M.J. PRECISION SHEET METAL LIMITED
REGISTERED NUMBER:04691025



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
617,357
667,268

  
617,357
667,268

Current assets
  

Stocks
  
30,000
30,000

Debtors: amounts falling due within one year
 5 
955,365
706,571

Cash at bank and in hand
  
334,326
480,393

  
1,319,691
1,216,964

Creditors: amounts falling due within one year
 6 
(474,634)
(328,974)

Net current assets
  
 
 
845,057
 
 
887,990

Total assets less current liabilities
  
1,462,414
1,555,258

Creditors: amounts falling due after more than one year
  
(272,673)
(360,751)

Provisions for liabilities
  

Other provisions
  
(135,675)
(71,847)

  
 
 
(135,675)
 
 
(71,847)

Net assets
  
1,054,066
1,122,660


Capital and reserves
  

Called up share capital 
  
99
99

Profit and loss account
  
1,053,967
1,122,561

  
1,054,066
1,122,660

Page 1

 


J.M.J. PRECISION SHEET METAL LIMITED
REGISTERED NUMBER:04691025


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
L K R Lee
Director

Date: 29 October 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 


J.M.J. PRECISION SHEET METAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

J.M.J. Precision Sheet Metal 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.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 


J.M.J. PRECISION SHEET METAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%, 20% and 15% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

Page 4

 


J.M.J. PRECISION SHEET METAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 25).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
2,061,309
258,043
124,348
10,250
2,453,950


Additions
100,975
-
-
-
100,975



At 31 March 2024

2,162,284
258,043
124,348
10,250
2,554,925



Depreciation


At 1 April 2023
1,529,146
125,636
124,348
7,552
1,786,682


Charge for the year on owned assets
100,849
47,792
-
2,245
150,886



At 31 March 2024

1,629,995
173,428
124,348
9,797
1,937,568



Net book value



At 31 March 2024
532,289
84,615
-
453
617,357



At 31 March 2023
532,163
132,407
-
2,698
667,268


5.


Debtors

2024
2023
£
£


Trade debtors
488,696
322,601

Amounts owed by group undertakings
433,364
353,043

Other debtors
27,364
25,428

Prepayments and accrued income
5,941
5,499

955,365
706,571


Page 5

 


J.M.J. PRECISION SHEET METAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
249,486
200,603

Corporation tax
464
-

Other taxation and social security
111,460
13,046

Obligations under finance lease and hire purchase contracts
88,077
101,919

Other creditors
14,980
3,239

Accruals and deferred income
10,167
10,167

474,634
328,974


The following liabilities were secured:

2024
2023
£
£



Hire purchase
88,077
101,919

88,077
101,919

Details of security provided:

The hire purchase facility is secured by a fixed charge over the company's assets.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Obligations under finance leases and hire purchase contracts
272,673
360,751

272,673
360,751


The following liabilities were secured:

2024
2023
£
£



Hire purchase
272,673
360,751

272,673
360,751

Details of security provided:

The hire purchase facility is secured by a fixed charge over the company's assets.

Page 6

 


J.M.J. PRECISION SHEET METAL LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
60,000
80,000

Later than 1 year and not later than 5 years
-
53,333

60,000
133,333


9.Debentures and cross guarantees

The company is a named chargor on a debenture relating to JMJLT Holdings Limited, the immediate parent company. JMJ Precision Sheet Metal Limited has provided security by way of a fixed and floating charge over the company's present and future assets.


10.


Related party transactions

At the balance sheet date the company was owed £433,364 (2023: £353,043) by respective related parties. The balance can be found within debtors. No interest is being charged on this loan.


11.


Controlling party

The immediate parent company and ultimate controlling party is JMJLT Holdings Limited. The company's registered office is Richmond House, Walkern Road, Stevenage, Hertfordshire, SG1 3QP.
 
Page 7