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REGISTERED NUMBER: SC585863















J-MAC TECHNOLOGY LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2024






J-MAC TECHNOLOGY LTD (REGISTERED NUMBER: SC585863)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


J-MAC TECHNOLOGY LTD (REGISTERED NUMBER: SC585863)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 509 742
Cash at bank 326 7,314
835 8,056
CREDITORS
Amounts falling due within one year 5 10,647 6,167
NET CURRENT (LIABILITIES)/ASSETS (9,812 ) 1,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,812

)

1,889

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (9,912 ) 1,789
(9,812 ) 1,889

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2024 and were signed by:





J McAneny - Director


J-MAC TECHNOLOGY LTD (REGISTERED NUMBER: SC585863)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1. STATUTORY INFORMATION

J-MAC Technology Ltd is a private company, limited by shares, registered in Scotland. The registered office is 12 Kilmardinny Drive, Bearsden, Glasgow, United Kingdom, G61 3PD.

The financial statements are presented in 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.

There were no material departures from that standard.

Going concern
The financial statements have been prepared on a going concern basis. At the balance sheet date, the company's liabilities exceeded its assets and its ability to continue to trade is therefore dependent on the continued financial support of its director. However, after assessing all potential impacts and future commitments, due to the continued financial support of the director if and when required, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and therefore, the company continues to adopt the going concern basis in preparing its financial statements.

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements.

The director considers there are no such significant judgements.

Turnover
Turnover represents the invoiced value of goods and services supplied, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.


J-MAC TECHNOLOGY LTD (REGISTERED NUMBER: SC585863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 509 742

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,971 3,129
Other creditors 7,676 3,038
10,647 6,167

J-MAC TECHNOLOGY LTD (REGISTERED NUMBER: SC585863)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 March 2024 and 30 March 2023:

2024 2023
£    £   
J McAneny
Balance outstanding at start of year (437 ) 7,104
Amounts advanced 4,500 72
Amounts repaid (10,390 ) (7,613 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,327 ) (437 )

The loan account is unsecured, interest free and is repayable on demand.