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REGISTERED NUMBER: 13336753 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

JM Drains Ltd

JM Drains Ltd (Registered number: 13336753)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JM Drains Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTOR: J D Morris





REGISTERED OFFICE: 116 Haunch Lane
Birmingham
West Midlands
B13 0PY





REGISTERED NUMBER: 13336753 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

JM Drains Ltd (Registered number: 13336753)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 96,893 60,493

CURRENT ASSETS
Stocks 3,200 1,800
Debtors 5 35,141 13,022
Cash at bank and in hand 4,141 8,011
42,482 22,833
CREDITORS
Amounts falling due within one year 6 59,120 53,075
NET CURRENT LIABILITIES (16,638 ) (30,242 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

80,255

30,251

CREDITORS
Amounts falling due after more than one
year

7

(46,202

)

(16,208

)

PROVISIONS FOR LIABILITIES 9 (18,410 ) (11,494 )
NET ASSETS 15,643 2,549

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 15,543 2,449
SHAREHOLDERS' FUNDS 15,643 2,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

JM Drains Ltd (Registered number: 13336753)

Balance Sheet - continued
30 April 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 8 October 2024 and were signed by:





J D Morris - Director


JM Drains Ltd (Registered number: 13336753)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

JM Drains Ltd 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

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

JM Drains Ltd (Registered number: 13336753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Office
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 50,882 46,363 481 97,726
Additions 14,320 54,405 - 68,725
At 30 April 2024 65,202 100,768 481 166,451
DEPRECIATION
At 1 May 2023 22,265 14,700 268 37,233
Charge for year 10,736 21,518 71 32,325
At 30 April 2024 33,001 36,218 339 69,558
NET BOOK VALUE
At 30 April 2024 32,201 64,550 142 96,893
At 30 April 2023 28,617 31,663 213 60,493

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 28,770 12,485
Other debtors 6,371 537
35,141 13,022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8) 22,787 4,987
Taxation and social security 13,758 2,134
Other creditors 22,575 45,954
59,120 53,075

JM Drains Ltd (Registered number: 13336753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts (see note 8) 46,202 16,208

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.4.24 30.4.23
£    £   
Gross obligations repayable:
Within one year 28,151 6,084
Between one and five years 57,141 19,774
85,292 25,858

Finance charges repayable:
Within one year 5,364 1,097
Between one and five years 10,939 3,566
16,303 4,663

Net obligations repayable:
Within one year 22,787 4,987
Between one and five years 46,202 16,208
68,989 21,195

Non-cancellable operating leases
30.4.24 30.4.23
£    £   
Within one year - 16,200
Between one and five years - 64,800
- 81,000

9. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 18,410 11,494

JM Drains Ltd (Registered number: 13336753)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 11,494
Provided during year 6,916
Balance at 30 April 2024 18,410

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

11. ULTIMATE CONTROLLING PARTY

The controlling party is J D Morris.