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JMS CAR PARTS LTD

Registered Number
SC736462
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2024

JMS CAR PARTS LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

Mindaugas Stanslovas
Justina Stansloviene

Registered Address

16 Denend Crescent
Kirkcaldy
KY2 5JP

Registered Number

SC736462 (Scotland)
JMS CAR PARTS LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets315,55112,849
15,55112,849
Current assets
Debtors421,32313,854
Cash at bank and on hand161,510111,623
182,833125,477
Creditors amounts falling due within one year5(125,365)(128,002)
Net current assets (liabilities)57,468(2,525)
Total assets less current liabilities73,01910,324
Provisions for liabilities(3,743)(2,441)
Net assets69,2767,883
Capital and reserves
Called up share capital2020
Profit and loss account69,2567,863
Shareholders' funds69,2767,883
The financial statements were approved and authorised for issue by the Board of Directors on 16 January 2025, and are signed on its behalf by:
Justina Stansloviene
Director
Registered Company No. SC736462
JMS CAR PARTS LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery25-
Vehicles25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year32
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 July 238,0824,7152,00714,804
Additions6,213-4916,704
At 30 June 2414,2954,7152,49821,508
Depreciation and impairment
At 01 July 235891,1791871,955
Charge for year2,4068847124,002
At 30 June 242,9952,0638995,957
Net book value
At 30 June 2411,3002,6521,59915,551
At 30 June 237,4933,5361,82012,849
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables9,330-
Other debtors11,46713,461
Prepayments and accrued income526393
Total21,32313,854
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables337850
Taxation and social security37,44219,023
Other creditors86,351106,891
Accrued liabilities and deferred income1,2351,238
Total125,365128,002