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REGISTERED NUMBER: 12418504 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

JBM AUTOMOTIVE LIMITED

JBM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)






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 AUTOMOTIVE LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J A Baker
J Burgess





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





REGISTERED NUMBER: 12418504 (England and Wales)





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

JBM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 3,200

CURRENT ASSETS
Stocks 5 26,598 57,650
Debtors 6 20,504 11,496
Cash at bank and in hand 2,876 10,519
49,978 79,665
CREDITORS
Amounts falling due within one year 7 18,925 44,732
NET CURRENT ASSETS 31,053 34,933
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,053

38,133

CREDITORS
Amounts falling due after more than one
year

8

(30,003

)

(34,752

)

PROVISIONS FOR LIABILITIES 10 - (608 )
NET ASSETS 1,050 2,773

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 850 2,573
SHAREHOLDERS' FUNDS 1,050 2,773

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 directors acknowledge their 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 AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)

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 Board of Directors and authorised for issue on 2 November 2024 and were signed on its behalf by:




J A Baker - Director



J Burgess - Director


JBM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)

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

1. STATUTORY INFORMATION

JBM Automotive 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 sale of motor vehicles, excluding value added tax, and is recognised when the sale of a motor vehicle is completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance

Stocks
Stocks comprise motor vehicles which are valued at the lower of cost, and net realisable value.

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.

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.

JBM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)

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

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 5,000
Disposals (5,000 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 1,800
Eliminated on disposal (1,800 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 3,200

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 26,598 57,650

JBM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 11,367 -
Other debtors 8,850 5,100
Corporation tax - 572
VAT 287 -
Prepayments - 5,824
20,504 11,496

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,749 24,650
Trade creditors - 5,148
Corporation tax 298 -
VAT - 1,989
Other creditors 11,569 9,119
Accrued expenses 2,309 3,826
18,925 44,732

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 30,003 34,752

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 19,293 19,293
Between one and five years 38,586 57,879
57,879 77,172

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax - 608

JBM AUTOMOTIVE LIMITED (REGISTERED NUMBER: 12418504)

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

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 608
Accelerated capital allowances (608 )
Balance at 31 March 2024 -