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Registered Number: 10111818
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 March 2024

for

J & MG HOLDINGS LTD

You consider that the company is exempt from an audit for the year ended 31 March 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.



....................................................

Sinden Thackeray Partnership

Suite 7 Beaufort House
Sir Thomas Longley Road
Rochester
ME2 4FB
04 December 2024
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 397,687    393,136 
397,687    393,136 
Current assets      
Cash at bank and in hand 89,569    188,857 
Creditors: amount falling due within one year (165,093)   (271,152)
Net current assets (75,524)   (82,295)
 
Total assets less current liabilities 322,163    310,841 
Creditors: amount falling due after more than one year (309,914)   (309,914)
Net assets 12,249    927 
 

Capital and reserves
     
Called up share capital 400    400 
Profit and loss account 11,849    527 
Shareholders' funds 12,249    927 
 


For the year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 04 December 2024 and were signed by:


-------------------------------
J B Wright
Director
2
General Information
J & MG Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 10111818, registration address Arnoldbrae Oast, Back Street, Leeds, Maidstone, Kent, ME17 1TF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Guarantees and other financial commitments

Included within creditors are loans with an aggregate value of £309,914 (2023: £309,914) which are secured by fixed assets of the company.

4.

Tangible fixed assets

Cost or valuation Land and Buildings   Fixtures and Fittings   Total
  £   £   £
At 01 April 2023 392,740    2,569    395,309 
Additions   6,200    6,200 
Disposals    
At 31 March 2024 392,740    8,769    401,509 
Depreciation
At 01 April 2023   2,173    2,173 
Charge for year   1,649    1,649 
On disposals    
At 31 March 2024   3,822    3,822 
Net book values
Closing balance as at 31 March 2024 392,740    4,947    397,687 
Opening balance as at 01 April 2023 392,740    396    393,136 


5.

Ultimate Controlling Party

Ultimate control rests with the director / shareholder.
3