2023-03-012024-02-292024-02-29false13933435JTM REFRIGERATION 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JTM REFRIGERATION LTD

Registered Number
13933435
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

JTM REFRIGERATION LTD
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

James Trelawney Mitchell

Registered Address

Martins Barn
Shaftesbury Road
Gillingham
SP8 4LP

Place of Business

UK


Registered Number

13933435 (England and Wales)
JTM REFRIGERATION LTD
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,159-
Tangible assets422,84739,534
26,00639,534
Current assets
Stocks2,546716
Debtors520,83112,318
Cash at bank and on hand127,95062,374
151,32775,408
Creditors amounts falling due within one year6(65,844)(55,066)
Net current assets (liabilities)85,48320,342
Total assets less current liabilities111,48959,876
Provisions for liabilities7(5,711)(5,050)
Net assets105,77854,826
Capital and reserves
Called up share capital100100
Profit and loss account105,67854,726
Shareholders' funds105,77854,826
The financial statements were approved and authorised for issue by the Director on 26 November 2024, and are signed on its behalf by:
James Trelawney Mitchell
Director
Registered Company No. 13933435
JTM REFRIGERATION LTD
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Office Equipment3
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year33
3.Intangible assets

Other

Total

££
Cost or valuation
Additions3,1853,185
At 29 February 243,1853,185
Amortisation and impairment
Charge for year2626
At 29 February 242626
Net book value
At 29 February 243,1593,159
At 28 February 23--
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 2343,7031,49145,194
Additions-999999
Disposals(10,000)-(10,000)
At 29 February 2433,7032,49036,193
Depreciation and impairment
At 01 March 235,3293315,660
Charge for year8,4257199,144
On disposals(1,458)-(1,458)
At 29 February 2412,2961,05013,346
Net book value
At 29 February 2421,4071,44022,847
At 28 February 2338,3741,16039,534
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables17,5469,981
Other debtors1091
Prepayments and accrued income3,1762,336
Total20,83112,318
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,0445,049
Taxation and social security52,29822,212
Other creditors30222,608
Accrued liabilities and deferred income4,2005,197
Total65,84455,066
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)5,7115,050
Total5,7115,050
8.Related party transactions
At the end of the year Mr JT Mitchell was owed £302 (2023: £16,583) relating to expenses incurred during the year.
9.Controlling party
The controlling party is Mr JT Mitchell.