Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falsefalseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02404588 2023-04-01 2024-03-31 02404588 2022-04-01 2023-03-31 02404588 2024-03-31 02404588 2023-03-31 02404588 c:Director1 2023-04-01 2024-03-31 02404588 d:Buildings 2023-04-01 2024-03-31 02404588 d:Buildings 2024-03-31 02404588 d:Buildings 2023-03-31 02404588 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02404588 d:PlantMachinery 2023-04-01 2024-03-31 02404588 d:PlantMachinery 2024-03-31 02404588 d:PlantMachinery 2023-03-31 02404588 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02404588 d:FurnitureFittings 2023-04-01 2024-03-31 02404588 d:FurnitureFittings 2024-03-31 02404588 d:FurnitureFittings 2023-03-31 02404588 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02404588 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 02404588 d:CurrentFinancialInstruments 2024-03-31 02404588 d:CurrentFinancialInstruments 2023-03-31 02404588 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 02404588 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02404588 d:ShareCapital 2024-03-31 02404588 d:ShareCapital 2023-03-31 02404588 d:CapitalRedemptionReserve 2024-03-31 02404588 d:CapitalRedemptionReserve 2023-03-31 02404588 d:RetainedEarningsAccumulatedLosses 2024-03-31 02404588 d:RetainedEarningsAccumulatedLosses 2023-03-31 02404588 c:FRS102 2023-04-01 2024-03-31 02404588 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02404588 c:FullAccounts 2023-04-01 2024-03-31 02404588 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02404588 2 2023-04-01 2024-03-31 02404588 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 02404588










JMG INSTALLATIONS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
JMG INSTALLATIONS LTD
REGISTERED NUMBER: 02404588

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
382,432
389,057

  
382,432
389,057

Current assets
  

Debtors: amounts falling due within one year
 5 
210,372
203,182

Cash at bank and in hand
  
71,648
70,088

  
282,020
273,270

Creditors: amounts falling due within one year
 6 
(262,940)
(295,289)

Net current assets/(liabilities)
  
 
 
19,080
 
 
(22,019)

Total assets less current liabilities
  
401,512
367,038

  

Net assets
  
401,512
367,038


Capital and reserves
  

Called up share capital 
  
9,000
9,000

Capital redemption reserve
  
1,000
1,000

Profit and loss account
  
391,512
357,038

  
401,512
367,038


Page 1

 
JMG INSTALLATIONS LTD
REGISTERED NUMBER: 02404588
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






M J Spence
Director

Date: 17 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JMG INSTALLATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

JMG Installations Ltd (02404588) is a private company limited by shares and incorporated in England & Wales. Its registered address is Unit 9 Romans Business Park, East Street, Farnham, Surrey, GU9 7SX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
JMG INSTALLATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% on buildings, land not depreciated
Plant and machinery
-
25%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
JMG INSTALLATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
JMG INSTALLATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
JMG INSTALLATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
512,843
3,473
10,851
527,167



At 31 March 2024

512,843
3,473
10,851
527,167



Depreciation


At 1 April 2023
126,000
1,259
10,851
138,110


Charge for the year on owned assets
6,000
625
-
6,625



At 31 March 2024

132,000
1,884
10,851
144,735



Net book value



At 31 March 2024
380,843
1,589
-
382,432



At 31 March 2023
386,843
2,214
-
389,057

Page 7

 
JMG INSTALLATIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
2,226
1,763

Other debtors
202,902
175,431

Prepayments and accrued income
5,244
25,345

Deferred taxation
-
643

210,372
203,182



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
78,814
73,109

Corporation tax
5,654
2,868

Other taxation and social security
9,540
11,020

Other creditors
167,132
174,481

Accruals and deferred income
1,800
33,811

262,940
295,289



7.


Controlling party

The ultimate parent company is Roman Property (Farnham) Limited which owns 100% of the share capital of JMG Installation Limited.

 
Page 8