Acorah Software Products - Accounts Production 16.0.110 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08571062 Mrs MONALI PATEL iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08571062 2023-03-31 08571062 2024-03-31 08571062 2023-04-01 2024-03-31 08571062 frs-core:CurrentFinancialInstruments 2024-03-31 08571062 frs-core:Non-currentFinancialInstruments 2024-03-31 08571062 frs-core:FurnitureFittings 2024-03-31 08571062 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08571062 frs-core:FurnitureFittings 2023-03-31 08571062 frs-core:NetGoodwill 2024-03-31 08571062 frs-core:NetGoodwill 2023-04-01 2024-03-31 08571062 frs-core:NetGoodwill 2023-03-31 08571062 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 08571062 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 08571062 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 08571062 frs-core:MotorVehicles 2024-03-31 08571062 frs-core:MotorVehicles 2023-04-01 2024-03-31 08571062 frs-core:MotorVehicles 2023-03-31 08571062 frs-core:PlantMachinery 2024-03-31 08571062 frs-core:PlantMachinery 2023-04-01 2024-03-31 08571062 frs-core:PlantMachinery 2023-03-31 08571062 frs-core:ShareCapital 2024-03-31 08571062 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08571062 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08571062 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08571062 frs-bus:SmallEntities 2023-04-01 2024-03-31 08571062 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08571062 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08571062 frs-bus:Director1 2023-04-01 2024-03-31 08571062 frs-countries:EnglandWales 2023-04-01 2024-03-31 08571062 2022-03-31 08571062 2023-03-31 08571062 2022-04-01 2023-03-31 08571062 frs-core:CurrentFinancialInstruments 2023-03-31 08571062 frs-core:Non-currentFinancialInstruments 2023-03-31 08571062 frs-core:ShareCapital 2023-03-31 08571062 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08571062
JM CONVENIENCE STORE LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Saashiv & Co. Accountants Limited
Chartered Certified Accountants
Pentax House
South Harrow
London
HA2 0DU
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08571062
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 240,000 240,000
Tangible Assets 5 18,994 20,750
258,994 260,750
CURRENT ASSETS
Stocks 6 107,850 100,710
Debtors 7 6,156 5,000
Cash at bank and in hand 19,391 20,645
133,397 126,355
Creditors: Amounts Falling Due Within One Year 8 (376,441 ) (370,475 )
NET CURRENT ASSETS (LIABILITIES) (243,044 ) (244,120 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,950 16,630
Creditors: Amounts Falling Due After More Than One Year 9 (27,882 ) (33,548 )
NET LIABILITIES (11,932 ) (16,918 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (12,032 ) (17,018 )
SHAREHOLDERS' FUNDS (11,932) (16,918)
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 her 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
Mrs MONALI PATEL
Director
12/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
JM CONVENIENCE STORE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 08571062 . The registered office is 61 Arundel Drive, Harrow, Middlesex, HA2 8PN.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. As the fair value remains same as the cost of goodwill, it is only fair not to amortise the goodwill.
2.4. 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:
Leasehold NOT DEPRECIATED
Plant & Machinery 20% on reducing balance
Motor Vehicles 20% on reducing balance
Fixtures & Fittings 20% on reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 250,000
As at 31 March 2024 250,000
Amortisation
As at 1 April 2023 10,000
As at 31 March 2024 10,000
Net Book Value
As at 31 March 2024 240,000
As at 1 April 2023 240,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 11,001 10,241 9,000 16,414 46,656
As at 31 March 2024 11,001 10,241 9,000 16,414 46,656
Depreciation
As at 1 April 2023 - 8,927 3,096 13,883 25,906
Provided during the period - 237 1,063 456 1,756
As at 31 March 2024 - 9,164 4,159 14,339 27,662
Net Book Value
As at 31 March 2024 11,001 1,077 4,841 2,075 18,994
As at 1 April 2023 11,001 1,314 5,904 2,531 20,750
6. Stocks
2024 2023
£ £
Stock 107,850 100,710
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,000 5,000
Net wages 1,156 -
6,156 5,000
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,474 10,276
Bank loans and overdrafts 6,672 6,672
Other taxes and social security 568 1,552
VAT 3,142 3,487
Pension liability 243 -
Director's loan account 362,342 348,488
376,441 370,475
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 27,882 33,548
27,882 33,548
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5