32 01/04/2024 31/03/2025 2025-03-31 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2024-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 4373050 2024-04-01 2025-03-31 4373050 2025-03-31 4373050 2024-03-31 4373050 2023-04-01 2024-03-31 4373050 2024-03-31 4373050 2023-03-31 4373050 core:PlantMachinery 2024-04-01 2025-03-31 4373050 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 4373050 core:MotorVehicles 2024-04-01 2025-03-31 4373050 core:OnerousContractsExcludingVacantProperties 2024-04-01 2025-03-31 4373050 bus:Director1 2024-04-01 2025-03-31 4373050 core:PlantMachinery 2024-03-31 4373050 core:FurnitureFittingsToolsEquipment 2024-03-31 4373050 core:MotorVehicles 2024-03-31 4373050 core:PlantMachinery 2025-03-31 4373050 core:FurnitureFittingsToolsEquipment 2025-03-31 4373050 core:MotorVehicles 2025-03-31 4373050 core:WithinOneYear 2025-03-31 4373050 core:WithinOneYear 2024-03-31 4373050 core:AfterOneYear 2025-03-31 4373050 core:AfterOneYear 2024-03-31 4373050 core:UKTax 2024-04-01 2025-03-31 4373050 core:UKTax 2023-04-01 2024-03-31 4373050 core:ShareCapital 2025-03-31 4373050 core:ShareCapital 2024-03-31 4373050 core:RetainedEarningsAccumulatedLosses 2025-03-31 4373050 core:RetainedEarningsAccumulatedLosses 2024-03-31 4373050 core:PlantMachinery 2024-03-31 4373050 core:FurnitureFittingsToolsEquipment 2024-03-31 4373050 core:MotorVehicles 2024-03-31 4373050 bus:SmallEntities 2024-04-01 2025-03-31 4373050 bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 4373050 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 4373050 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 4373050 bus:FullAccounts 2024-04-01 2025-03-31 4373050 core:LandBuildings 2024-04-01 2025-03-31 4373050 core:LandBuildings 2024-03-31 4373050 core:LandBuildings 2025-03-31
Company registration number: 4373050
JMF Print Limited
Pages for filing with Registrar
31 March 2025
JMF Print Limited
Contents
Statement of financial position
Notes to the financial statements
JMF Print Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 6 291,193 345,905
_______ _______
291,193 345,905
Current assets
Stocks 8,920 7,450
Debtors 7 458,039 284,109
Cash at bank and in hand 253,205 1,049,174
_______ _______
720,164 1,340,733
Creditors: amounts falling due
within one year 8 ( 191,386) ( 917,790)
_______ _______
Net current assets 528,778 422,943
_______ _______
Total assets less current liabilities 819,971 768,848
Creditors: amounts falling due
after more than one year 9 ( 75,757) ( 135,036)
Provisions for liabilities ( 42,482) ( 39,656)
_______ _______
Net assets 701,732 594,156
_______ _______
Capital and reserves
Called up share capital 200 200
Profit and loss account 701,532 593,956
_______ _______
Shareholders funds 701,732 594,156
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 08 May 2025 , and are signed on behalf of the board by:
J M Foggin
Director
Company registration number: 4373050
JMF Print Limited
Notes to the financial statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 5 Sands Industrial Estate, Swalwell, Newcastle upon Tyne, NE16 3DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Computer equipment - 33 % straight line
Motor vehicles - 25 % reducing balance
Property improvements - 10 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 32 (2024: 27 ).
5. Tax on profit
Major components of tax expense
2025 2024
£ £
Current tax:
UK current tax expense 128,399 172,692
Adjustments in respect of previous periods ( 12,911) ( 290)
_______ _______
Total UK current tax 115,488 172,402
Deferred tax:
Origination and reversal of timing differences 2,826 ( 1,989)
_______ _______
Tax on profit 118,314 170,413
_______ _______
6. Tangible assets
Plant and machinery Computer equipment Motor vehicles Property improvements Total
£ £ £ £ £
Cost
At 1 April 2024 398,724 51,823 398,109 26,572 875,228
Additions 7,157 979 50,500 22,490 81,126
Disposals - - ( 91,220) - ( 91,220)
_______ _______ _______ _______ _______
At 31 March 2025 405,881 52,802 357,389 49,062 865,134
_______ _______ _______ _______ _______
Depreciation
At 1 April 2024 277,643 45,889 179,219 26,572 529,323
Charge for the year 25,647 5,268 51,363 2,249 84,527
Disposals - - ( 39,909) - ( 39,909)
_______ _______ _______ _______ _______
At 31 March 2025 303,290 51,157 190,673 28,821 573,941
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2025 102,591 1,645 166,716 20,241 291,193
_______ _______ _______ _______ _______
At 31 March 2024 121,081 5,934 218,890 - 345,905
_______ _______ _______ _______ _______
7. Debtors
2025 2024
£ £
Trade debtors 450,670 271,102
Other debtors 7,369 13,007
_______ _______
458,039 284,109
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 20,770 15,343
Corporation tax 128,399 172,692
Social security and other taxes 25,503 23,434
Other creditors 16,714 706,321
_______ _______
191,386 917,790
_______ _______
9. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 75,757 135,036
_______ _______