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REGISTERED NUMBER: 06775978 (England and Wales)















JMC Accountants & Tax Advisers Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






JMC Accountants & Tax Advisers Limited (Registered number: 06775978)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


JMC Accountants & Tax Advisers Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J M Castro
Mrs NJ Fellows
R Castro





REGISTERED OFFICE: 76 High Street
Brierley Hill
West Midlands
DY5 3AW





REGISTERED NUMBER: 06775978 (England and Wales)





ACCOUNTANTS: JMC Accountants & Tax Advisers Ltd
76 High Street
Brierley Hill
West Midlands
DY5 3AW

JMC Accountants & Tax Advisers Limited (Registered number: 06775978)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 174,585 185,003
Tangible assets 5 64,969 23,157
239,554 208,160

CURRENT ASSETS
Debtors 6 149,958 133,354
Cash at bank and in hand 134,860 133,052
284,818 266,406
CREDITORS
Amounts falling due within one year 7 130,867 119,938
NET CURRENT ASSETS 153,951 146,468
TOTAL ASSETS LESS CURRENT
LIABILITIES

393,505

354,628

CREDITORS
Amounts falling due after more than one
year

8

(12,907

)

(22,954

)

PROVISIONS FOR LIABILITIES (5,685 ) (4,398 )
NET ASSETS 374,913 327,276

CAPITAL AND RESERVES
Called up share capital 220,000 220,000
Retained earnings 154,913 107,276
SHAREHOLDERS' FUNDS 374,913 327,276

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

JMC Accountants & Tax Advisers Limited (Registered number: 06775978)

Balance Sheet - continued
30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2025 and were signed on its behalf by:





J M Castro - Director


JMC Accountants & Tax Advisers Limited (Registered number: 06775978)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

JMC Accountants & Tax Advisers 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

JMC Accountants & Tax Advisers Limited (Registered number: 06775978)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

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 13 (2023 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 312,511
AMORTISATION
At 1 July 2023 127,508
Amortisation for year 10,418
At 30 June 2024 137,926
NET BOOK VALUE
At 30 June 2024 174,585
At 30 June 2023 185,003

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 July 2023 83,733 - 83,733
Additions 7,849 51,499 59,348
At 30 June 2024 91,582 51,499 143,081
DEPRECIATION
At 1 July 2023 60,576 - 60,576
Charge for year 4,661 12,875 17,536
At 30 June 2024 65,237 12,875 78,112
NET BOOK VALUE
At 30 June 2024 26,345 38,624 64,969
At 30 June 2023 23,157 - 23,157

JMC Accountants & Tax Advisers Limited (Registered number: 06775978)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 140,671 124,766
Other debtors 9,287 8,588
149,958 133,354

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,325 10,202
Trade creditors (712 ) 5,367
Amounts owed to group undertakings 1,862 2,714
Taxation and social security 106,812 90,287
Other creditors 12,580 11,368
130,867 119,938

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,907 22,954