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Registration number: 14933615

JIMC Technology Limited

Unaudited Filleted Financial Statements

for the Period from 13 June 2023 to 30 June 2024

 

JIMC Technology Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

JIMC Technology Limited

Company Information

Directors

Mr J T Barnfield

Mr C A Barnfield

Mr I Parsons

Registered office

The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

JIMC Technology Limited

(Registration number: 14933615)
Balance Sheet as at 30 June 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

20,448

Tangible assets

5

399

 

20,847

Current assets

 

Debtors

6

1,015

Cash at bank and in hand

 

166

 

1,181

Creditors: Amounts falling due within one year

7

(24,290)

Net current liabilities

 

(23,109)

Net liabilities

 

(2,262)

Capital and reserves

 

Called up share capital

100

Retained earnings

(2,362)

Shareholders' deficit

 

(2,262)

 

JIMC Technology Limited

(Registration number: 14933615)
Balance Sheet as at 30 June 2024

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr C A Barnfield
Director

 

JIMC Technology Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Site
24 Chosen View Road
Cheltenham
Gloucestershire
GL51 9LT
England

These financial statements were authorised for issue by the Board on 13 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these financial statements is pound sterling rounded to the nearest whole number.

Going concern

The financial statements have been prepared on a going concern basis. Atlhough the company has made losses in its first year, the directors see the company as a going concern and will continue to support the companies cash flow for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

JIMC Technology Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2023 to 30 June 2024

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% on cost

Intangible assets

Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs will subsequently be amortised over their useful economic lives.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

JIMC Technology Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2023 to 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

JIMC Technology Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2023 to 30 June 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

Additions internally developed

20,448

20,448

At 30 June 2024

20,448

20,448

Amortisation

Carrying amount

At 30 June 2024

20,448

20,448

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

491

491

At 30 June 2024

491

491

Depreciation

Charge for the period

92

92

At 30 June 2024

92

92

Carrying amount

At 30 June 2024

399

399

6

Debtors

Current

2024
£

Other debtors

1,015

 

1,015

 

JIMC Technology Limited

Notes to the Unaudited Financial Statements for the Period from 13 June 2023 to 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

118

Accruals and deferred income

947

Other creditors

23,225

24,290

8

Related party transactions

Summary of transactions with individual shareholders

Shareholder

Morgan Hambling

At the balance sheet date, the company owed Morgan £4,551 in respect of a working capital loan.

Summary of transactions with other related parties

The Foresite Group Limited
 At the balance sheet date the company owed the related party £18,404 in respect of the working capital loan.