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Registration number: 15433110

JEX Motors Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

JEX Motors Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

JEX Motors Ltd

Company Information

Directors

Mr Tarik Valentine Yilmaz

Mr Yasam Mathius Yilmaz

Registered office

2 Townfoot
Lesbury
Northumberland
NE66 3BR

Accountants

AMT Business (Northumbria) Ltd Ground Floor Lion House
Willowburn Trading Estate
Alnwick
Northumberland
NE66 2PF

 

JEX Motors Ltd

(Registration number: 15433110)
Balance Sheet as at 31 January 2025

Note

2025
£

Current assets

 

Stocks

4

8,172

Cash at bank and in hand

 

4,140

 

12,312

Creditors: Amounts falling due within one year

5

(1,368)

Total assets less current liabilities

 

10,944

Creditors: Amounts falling due after more than one year

5

(20,191)

Net liabilities

 

(9,247)

Capital and reserves

 

Called up share capital

6

10

Retained earnings

(9,257)

Shareholders' deficit

 

(9,247)

For the financial year ending 31 January 2025 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 year 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 and 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 28 February 2025 and signed on its behalf by:
 

.........................................
Mr Yasam Mathius Yilmaz
Director

 

JEX Motors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
2 Townfoot
Lesbury
Northumberland
NE66 3BR

These financial statements were authorised for issue by the Board on 28 February 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

JEX Motors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0.

4

Stocks

2025
£

Other inventories

8,172

 

JEX Motors Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Creditors

Creditors: amounts falling due within one year

2025
£

Due within one year

Trade creditors

288

Accruals and deferred income

1,080

1,368

Creditors: amounts falling due after more than one year

Note

2025
£

Due after one year

 

Loans and borrowings

7

20,191

6

Share capital

Allotted, called up and fully paid shares

2025

No.

£

Ordinary Shares of £1 each

10

10

   

7

Loans and borrowings

Non-current loans and borrowings

2025
£

Other borrowings

20,191