2023-06-012024-05-312024-05-31false12620817JM Car Parts London 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JM Car Parts London Ltd

Registered Number
12620817
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

JM Car Parts London Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Cannon, Gabriella Giovanna Franca
Christofi, Ioannis

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

12620817 (England and Wales)
JM Car Parts London Ltd
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks3110,93253,430
Debtors45,489-
Cash at bank and on hand7,4713,818
123,89257,248
Creditors amounts falling due within one year5(60,317)(53,027)
Net current assets (liabilities)63,5754,221
Total assets less current liabilities63,5754,221
Creditors amounts falling due after one year6(42,100)-
Net assets21,4754,221
Capital and reserves
Called up share capital100100
Profit and loss account21,3754,121
Shareholders' funds21,4754,221
The financial statements were approved and authorised for issue by the Board of Directors on 11 February 2025, and are signed on its behalf by:
Christofi, Ioannis
Director
Registered Company No. 12620817
JM Car Parts London Ltd
Notes to the Financial Statements
for the year ended 31 May 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.
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.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year22
3.Stocks

2024

2023

££
Finished goods110,93253,430
Total110,93253,430
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables5,489-
Total5,489-
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-10,201
Taxation and social security9,8074,704
Other creditors50,51038,122
Total60,31753,027
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts42,100-
Total42,100-