Registered number
09691603
JMS Tippers Limited
Filleted Accounts
31 July 2024
JMS Tippers Limited
Registered number: 09691603
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 541,766 602,206
Current assets
Debtors 4 240,525 161,126
Cash at bank and in hand 3,924 3,042
244,449 164,168
Creditors: amounts falling due within one year 5 (349,999) (356,933)
Net current liabilities (105,550) (192,765)
Total assets less current liabilities 436,216 409,441
Creditors: amounts falling due after more than one year 6 (262,036) (335,759)
Net assets 174,180 73,682
Capital and reserves
Called up share capital 1 1
Profit and loss account 174,179 73,681
Shareholder's funds 174,180 73,682
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Verbeeten
Director
Approved by the board on 17 March 2025
JMS Tippers Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 929,180 38,917 968,097
Additions 75,000 - 75,000
At 31 July 2024 1,004,180 38,917 1,043,097
Depreciation
At 1 August 2023 351,132 14,759 365,891
Charge for the year 130,609 4,831 135,440
At 31 July 2024 481,741 19,590 501,331
Net book value
At 31 July 2024 522,439 19,327 541,766
At 31 July 2023 578,048 24,158 602,206
4 Debtors 2024 2023
£ £
Trade debtors 240,525 161,126
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 39,287 37,647
Obligations under finance lease and hire purchase contracts 162,419 215,710
Taxation and social security costs 124,460 56,487
Other creditors 23,833 47,089
349,999 356,933
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 162,036 335,759
Other creditors 100,000 -
262,036 335,759
7 Controlling party
The company considers the director to be its controlling party.
8 Other information
JMS Tippers Limited is a private company limited by shares and incorporated in England. Its registered office is:
46 Calluna Drive
Copthorne
West Sussex
RH10 3XF
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