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REGISTERED NUMBER: 13129150 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

JBM PERFORMANCE LIMITED

JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JBM PERFORMANCE LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Burgess





REGISTERED OFFICE: Unit 4 Fieldhouse Way Industrial Estate
Petre Street
Sheffield
South Yorkshire
S4 7SF





REGISTERED NUMBER: 13129150 (England and Wales)





ACCOUNTANTS: S Burgess & Co Ltd
11 Slayleigh Avenue
Sheffield
South Yorkshire
S10 3RA

JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,290 25,135

CURRENT ASSETS
Stocks 14,500 9,471
Debtors 5 5,135 2,618
Cash at bank and in hand 23,404 14,270
43,039 26,359
CREDITORS
Amounts falling due within one year 6 51,348 40,959
NET CURRENT LIABILITIES (8,309 ) (14,600 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,981

10,535

PROVISIONS FOR LIABILITIES 8 3,158 1,689
NET ASSETS 11,823 8,846

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 11,723 8,746
SHAREHOLDERS' FUNDS 11,823 8,846

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 his 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.

JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)

Balance Sheet - continued
31 March 2024


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 21 October 2024 and were signed by:





J Burgess - Director


JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)

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

1. STATUTORY INFORMATION

JBM Performance 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.

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

Turnover
Turnover represents income generated from the repair and maintenance of motor vehicles, and the sale of motor vehicle parts, excluding value added tax. Turnover is recognised when the repair and maintenance of a motor vehicle is completed, or on the delivery of the motor vehicle parts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks comprise motor vehicle parts which are valued at purchase cost, and are calculated using the first in, first out formula.

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 balance sheet date.


JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.

Impairment
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 10,071 23,644 872 1,450 36,037
Additions - 4,545 - - 4,545
At 31 March 2024 10,071 28,189 872 1,450 40,582
DEPRECIATION
At 1 April 2023 2,015 8,233 246 408 10,902
Charge for year 2,014 3,991 125 260 6,390
At 31 March 2024 4,029 12,224 371 668 17,292
NET BOOK VALUE
At 31 March 2024 6,042 15,965 501 782 23,290
At 31 March 2023 8,056 15,411 626 1,042 25,135

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,566 1,049
Other debtors 1,569 1,569
5,135 2,618

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 25,514 11,110
Corporation tax 3,311 535
Social security and other taxes 433 435
VAT 3,539 3,183
Other creditors 2,501 5,495
Directors' current accounts 13,750 18,701
Accrued expenses 2,300 1,500
51,348 40,959

JBM PERFORMANCE LIMITED (REGISTERED NUMBER: 13129150)

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

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 4,823 2,552

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 3,158 1,689

Deferred
tax
£   
Balance at 1 April 2023 1,689
Accelerated Capital Allowances 1,469
Balance at 31 March 2024 3,158

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100