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REGISTERED NUMBER: 03408710 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

JMS Abacus Limited

JMS Abacus Limited (Registered number: 03408710)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JMS Abacus Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: D J Staines





REGISTERED OFFICE: Unit 27 Brightwell Barns
Waldringfield Road
Brightwell
Ipswich
Suffolk
IP10 0BJ





REGISTERED NUMBER: 03408710 (England and Wales)





ACCOUNTANTS: Gopsall Services Limited
First Floor
7 Marina Court
Maple Drive
Hinckley
LE10 3BF

JMS Abacus Limited (Registered number: 03408710)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,831 8,037

CURRENT ASSETS
Stocks 25,000 5,000
Debtors 5 373,266 431,096
Cash at bank 6,241 2,101
404,507 438,197
CREDITORS
Amounts falling due within one year 6 104,429 151,044
NET CURRENT ASSETS 300,078 287,153
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,909

295,190

CREDITORS
Amounts falling due after more than one year 7 (11,625 ) (20,918 )

PROVISIONS FOR LIABILITIES (1,363 ) (1,588 )
NET ASSETS 293,921 272,684

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 10 292,921 271,684
SHAREHOLDERS' FUNDS 293,921 272,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2025 and were signed by:




D J Staines - Director


JMS Abacus Limited (Registered number: 03408710)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

JMS Abacus Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

JMS Abacus Limited (Registered number: 03408710)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 207,864
DEPRECIATION
At 1 September 2023 199,827
Charge for year 1,206
At 31 August 2024 201,033
NET BOOK VALUE
At 31 August 2024 6,831
At 31 August 2023 8,037

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 56,424 119,994
Amounts owed by group undertakings 316,647 310,937
Other debtors 195 165
373,266 431,096

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 9,971 10,648
Trade creditors 38,933 71,893
Amounts owed to group undertakings 46,921 46,921
Taxation and social security 7,104 20,137
Other creditors 1,500 1,445
104,429 151,044

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 11,625 20,918

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 872 2,617
Between one and five years - 872
872 3,489

Operating lease payments recognised as an expense during the year ended 31 August 2024 were £2,617 (2023: £2,617).

JMS Abacus Limited (Registered number: 03408710)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1,000 Ordinary 1 1,000 1,000

10. RESERVES
Retained
earnings
£   

At 1 September 2023 271,684
Profit for the year 21,237
At 31 August 2024 292,921