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JMS Projects Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Hornsby Accounts Ltd
Office Suite
6a Market Place
Brigg
North Lincolnshire
DN20 8HA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07974874
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,510 2,013
1,510 2,013
CURRENT ASSETS
Debtors 5 2,574 13,006
Cash at bank and in hand 71,204 46,932
73,778 59,938
Creditors: Amounts Falling Due Within One Year 6 (21,614 ) (21,485 )
NET CURRENT ASSETS (LIABILITIES) 52,164 38,453
TOTAL ASSETS LESS CURRENT LIABILITIES 53,674 40,466
NET ASSETS 53,674 40,466
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 53,672 40,464
SHAREHOLDERS' FUNDS 53,674 40,466
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Scrowston
Director
18th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
JMS Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07974874 . The registered office is 1 Elms Drive, Kirk Ella, Hull, East Yorkshire, HU10 7QH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 25% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 8,468
As at 31 March 2024 8,468
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2023 6,455
Provided during the period 503
As at 31 March 2024 6,958
Net Book Value
As at 31 March 2024 1,510
As at 1 April 2023 2,013
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,574 13,006
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 15,862 14,199
VAT 2,754 4,015
Accruals and deferred income 662 662
Director's loan account 2,336 2,609
21,614 21,485
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4