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Registered Number: 10966911
England and Wales

 

 

 

JM SOUTH WEST LIMITED



Filleted Accounts
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Director Neil Ward
Registered Number 10966911
Registered Office 119 Regent Street
Kingswood
Bristol
BS15 8LJ
Accountants Ingle & Company limited
339 Two Mile Hill Road
Kingswood
BS15 1AN
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 30 September 2024.
Principal activities
Principal activity of the company during the financial year was of repair of consumer electrics.
Director
The director who served the company throughout the year was as follows:
Neil Ward
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.


----------------------------------
Neil Ward
Director

Date approved: 09 June 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 September 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Ingle & Company limited
30 September 2024



....................................................

Ingle & Company limited

339 Two Mile Hill Road
Kingswood
BS15 1AN
09 June 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 294,603    366,323 
Cost of sales (70,695)   (124,849)
Gross profit 223,908    241,474 
Administrative expenses (189,764)   (217,869)
Operating profit 34,144    23,605 
Other interest receivable and similar income 8    30 
Interest payable and similar charges (2,400)   (1,448)
Profit/(Loss) on ordinary activities before taxation 31,752    22,187 
Tax on profit on ordinary activities (2,571)   (4,334)
Profit/(Loss) for the financial year 29,181    17,853 
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 21,754    3,535 
21,754    3,535 
Current assets      
Stocks 4 249,000    193,000 
Debtors 5   3,194 
Cash at bank and in hand 1,439    (1,118)
250,439    195,076 
Creditors: amount falling due within one year 6 (222,138)   (195,367)
Net current assets 28,301    (291)
 
Total assets less current liabilities 50,055    3,244 
Creditors: amount falling due after more than one year 7 (17,629)  
Accruals and deferred income   2 
Net assets 32,426    3,246 
 

Capital and reserves
     
Share premium account 8 100    100 
Profit and loss account 32,326    3,146 
Shareholders' funds 32,426    3,246 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 09 June 2025 and were signed by:


-------------------------------
Neil Ward
Director
5
  Equity share premium   Retained Earnings   Total
£ £ £
At 01 October 2022 100  17,293  17,393 
Profit for the year 17,853  17,853 
Total comprehensive income for the year 17,853  17,853 
Dividends (32,000) (32,000)
Total investments by and distributions to owners (32,000) (32,000)
At 30 September 2023 100  3,146  3,246 
At 01 October 2023 100  3,145  3,245 
Profit for the year 29,181  29,181 
Total comprehensive income for the year 29,181  29,181 
Total investments by and distributions to owners
At 30 September 2024 100  32,326  32,426 
6
General Information
JM SOUTH WEST LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10966911, registration address 119 Regent Street, Kingswood, Bristol, BS15 8LJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 10 (2023 : 11).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 October 2023 4,000    24,999    9,997    755    39,751 
Additions        
Disposals        
At 30 September 2024 4,000    24,999    9,997    755    39,751 
Depreciation
At 01 October 2023 4,000    6,250    6,856    361    17,467 
Charge for year     471    59    530 
On disposals        
At 30 September 2024 4,000    6,250    7,327    420    17,997 
Net book values
Closing balance as at 30 September 2024   18,749    2,670    335    21,754 
Opening balance as at 01 October 2023     3,141    394    3,535 


4.

Stocks

2024
£
  2023
£
Stocks 249,000    193,000 
249,000    193,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
PAYE & Social Security   3,194 
  3,194 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Bank Loans & Overdrafts (Secured) 4,920   
Bank Loans & Overdrafts 33,669    39,991 
Corporation Tax 16,312    17,138 
PAYE & Social Security 4,501   
Accrued Expenses 1,000    1,000 
Credit card 21,873   
Directors' Current Accounts 79,786    78,260 
VAT 60,077    58,978 
222,138    195,367 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 17,629   
17,629   

8.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 100    100 
100    100 

7