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REGISTERED NUMBER: 10569027 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

JM Wholesale Limited

JM Wholesale Limited (Registered number: 10569027)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JM Wholesale Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: L P Rajan





REGISTERED OFFICE: 1 Brook Street
Whetstone
Leicester
Leicestershire
LE8 6LA





REGISTERED NUMBER: 10569027 (England and Wales)





ACCOUNTANTS: torr waterfield
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

JM Wholesale Limited (Registered number: 10569027)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 17,801 26,568
Tangible assets 5 172,933 126,554
190,734 153,122

CURRENT ASSETS
Stocks 527,432 445,789
Debtors 6 243,351 608,989
Cash at bank and in hand 301,306 369,651
1,072,089 1,424,429
CREDITORS
Amounts falling due within one year 7 (690,015 ) (1,201,617 )
NET CURRENT ASSETS 382,074 222,812
TOTAL ASSETS LESS CURRENT
LIABILITIES

572,808

375,934

CREDITORS
Amounts falling due after more than one
year

8

(15,418

)

(26,617

)

PROVISIONS FOR LIABILITIES (33,909 ) -
NET ASSETS 523,481 349,317

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 523,381 349,217
523,481 349,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Wholesale Limited (Registered number: 10569027)

Balance Sheet - continued
29 February 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2024 and were signed by:





L P Rajan - Director


JM Wholesale Limited (Registered number: 10569027)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

JM Wholesale 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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost
Computer equipment - 20% on cost

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 Statement of Income and Retained Earnings, 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 Wholesale Limited (Registered number: 10569027)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payment is treated as a liability.

Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.

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 59 (2023 - 48 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 26,568
AMORTISATION
Charge for year 8,767
At 29 February 2024 8,767
NET BOOK VALUE
At 29 February 2024 17,801
At 28 February 2023 26,568

JM Wholesale Limited (Registered number: 10569027)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 March 2023 86,024 42,083 14,231
Additions 22,803 35,955 14,842
At 29 February 2024 108,827 78,038 29,073
DEPRECIATION
At 1 March 2023 15,305 10,057 6,561
Charge for year 15,120 9,200 5,871
At 29 February 2024 30,425 19,257 12,432
NET BOOK VALUE
At 29 February 2024 78,402 58,781 16,641
At 28 February 2023 70,719 32,026 7,670

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 7,995 13,091 163,424
Additions - 7,479 81,079
At 29 February 2024 7,995 20,570 244,503
DEPRECIATION
At 1 March 2023 2,199 2,748 36,870
Charge for year 1,399 3,110 34,700
At 29 February 2024 3,598 5,858 71,570
NET BOOK VALUE
At 29 February 2024 4,397 14,712 172,933
At 28 February 2023 5,796 10,343 126,554

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 189,728 104,618
Other debtors 53,623 504,371
243,351 608,989

Included in other debtors is prepayments and accrued income of £48,866 (2023: £173,600)

JM Wholesale Limited (Registered number: 10569027)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 1,199 1,199
Trade creditors 323,984 529,245
Taxation and social security 167,176 54,478
Other creditors 187,656 606,695
690,015 1,201,617

Included in other creditors is accruals and deferred income of £33,977 (2023: £361,094)

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 2,918 4,117
15,418 26,617

9. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hire purchase contracts 4,117 5,316

The hire purchase creditors are secured on the related assets included in the financial statements.

10. CAPITAL COMMITMENTS

The total amount of financial commitments, guarantees and contingencies that are not included in the balance sheet is £313,785 (2023 - £403,320).