1 2 JJEM Plumbing Ltd SC623296 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is plumbing, heat and air-conditioning installation. Digita Accounts Production Advanced 6.30.9574.0 true SC623296 2023-04-01 2024-03-31 SC623296 2024-03-31 SC623296 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 SC623296 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 SC623296 core:CurrentFinancialInstruments 2024-03-31 SC623296 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 SC623296 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 SC623296 core:Goodwill 2024-03-31 SC623296 core:MotorVehicles 2024-03-31 SC623296 bus:SmallEntities 2023-04-01 2024-03-31 SC623296 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC623296 bus:FilletedAccounts 2023-04-01 2024-03-31 SC623296 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC623296 bus:RegisteredOffice 2023-04-01 2024-03-31 SC623296 bus:Director1 2023-04-01 2024-03-31 SC623296 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC623296 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC623296 core:Goodwill 2023-04-01 2024-03-31 SC623296 core:MotorVehicles 2023-04-01 2024-03-31 SC623296 core:PlantMachinery 2023-04-01 2024-03-31 SC623296 core:Vehicles 2023-04-01 2024-03-31 SC623296 countries:Scotland 2023-04-01 2024-03-31 SC623296 2023-03-31 SC623296 core:Goodwill 2023-03-31 SC623296 core:MotorVehicles 2023-03-31 SC623296 2022-04-01 2023-03-31 SC623296 2023-03-31 SC623296 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 SC623296 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 SC623296 core:CurrentFinancialInstruments 2023-03-31 SC623296 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 SC623296 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 SC623296 core:Goodwill 2023-03-31 SC623296 core:MotorVehicles 2023-03-31 SC623296 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 xbrli:pure iso4217:GBP

Registration number: SC623296

JJEM Plumbing Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

JJEM Plumbing Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

JJEM Plumbing Ltd

(Registration number: SC623296)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

6,750

8,100

Tangible assets

5

34,411

3,901

 

41,161

12,001

Current assets

 

Stocks

6

10,000

10,650

Debtors

7

131,848

121,651

Cash at bank and in hand

 

33,479

44,325

 

175,327

176,626

Creditors: Amounts falling due within one year

8

(74,361)

(95,722)

Net current assets

 

100,966

80,904

Total assets less current liabilities

 

142,127

92,905

Creditors: Amounts falling due after more than one year

8

(35,226)

-

Provisions for liabilities

(7,875)

(2,211)

Net assets

 

99,026

90,694

Capital and reserves

 

Called up share capital

100

100

Retained earnings

98,926

90,594

Shareholders' funds

 

99,026

90,694

For the financial year ending 31 March 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 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 Income Statement.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

 

JJEM Plumbing Ltd

(Registration number: SC623296)
Statement of Financial Position as at 31 March 2024

.........................................
Mark Gorton
Director

 

JJEM Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
5 Troon Road
Dundee
DD2 3FT

These financial statements were authorised for issue by the Board on 27 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 financial statements have been prepared in sterling which is the functional currency of the entity.

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.

Tax

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

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.

 

JJEM Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 statement of financial position 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

Motor vehicles

33% straight line

Plant and machinery

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

 

JJEM Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 income statement 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 1 (2023 - 2).

 

JJEM Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

13,500

13,500

At 31 March 2024

13,500

13,500

Amortisation

At 1 April 2023

5,400

5,400

Amortisation charge

1,350

1,350

At 31 March 2024

6,750

6,750

Carrying amount

At 31 March 2024

6,750

6,750

At 31 March 2023

8,100

8,100

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

12,333

12,333

Additions

51,359

51,359

At 31 March 2024

63,692

63,692

Depreciation

At 1 April 2023

8,432

8,432

Charge for the year

20,849

20,849

At 31 March 2024

29,281

29,281

Carrying amount

At 31 March 2024

34,411

34,411

At 31 March 2023

3,901

3,901

 

JJEM Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Work in progress

9,500

10,500

Other inventories

500

150

10,000

10,650

7

Debtors

Current

2024
£

2023
£

Trade debtors

118,845

106,666

Prepayments

959

615

Other debtors

12,044

14,370

 

131,848

121,651

 

JJEM Plumbing Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

7,117

-

Trade creditors

 

28,066

24,400

Taxation and social security

 

12,056

16,839

Accruals and deferred income

 

2,050

900

Other creditors

 

25,072

53,583

 

74,361

95,722

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

35,226

-

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

35,226

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,117

-

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £555.90 (2023 - £661.07) per each A Ordinary

27,795

33,054