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COMPANY REGISTRATION NUMBER: 06452707
JSM Asset Management Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2024
JSM Asset Management Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
5
50
50
Current assets
Debtors: due within one year
6
500,333
79
Debtors: due after more than one year
6
469,760
---------
---------
500,333
469,839
Creditors: amounts falling due within one year
7
1,715
13,628
---------
---------
Net current assets
498,618
456,211
---------
---------
Total assets less current liabilities
498,668
456,261
---------
---------
Net assets
498,668
456,261
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
498,568
456,161
---------
---------
Shareholder funds
498,668
456,261
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JSM Asset Management Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 14 April 2025 , and are signed on behalf of the board by:
Mr J S Martin
Director
Company registration number: 06452707
JSM Asset Management Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tall Trees, Heath Lane, Fakenham, Norfolk, NR21 8LN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a basis other than the going concern basis following the decision by the director to liquidate the company. No adjustments are required to the figures in the financial statements as a result of the change in basis of preparation.
Investment income
Investment income comprises dividends and is accounted for on a receivable basis.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2023: nil).
5. Investments
Shares in participating interests
£
Cost
At 1 January 2024 and 31 December 2024
50
----
Impairment
At 1 January 2024 and 31 December 2024
----
Carrying amount
At 31 December 2024
50
----
At 31 December 2023
50
----
6. Debtors
Debtors falling due within one year are as follows:
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
254,007
Other debtors
246,326
79
---------
----
500,333
79
---------
----
Debtors falling due after one year are as follows:
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
245,007
Other debtors
224,753
----
---------
469,760
----
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
118
12,103
Other creditors
1,597
1,525
-------
--------
1,715
13,628
-------
--------
8. Director's advances, credits and guarantees
During the year the company continued to make advances to the director as detailed below. Interest, charged at the prevailing HMRC official rate, was charged on overdrawn balances on a daily basis. There are no set repayment terms.
2024 2023
£ £
Advances 35,135 94,850
Repayments 13,641 58,899
Balance due to the company 190,555 169,061