REGISTERED NUMBER: 07648947 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2025

FOR

J M UPHOLSTERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Mascall

L E Mascall

SECRETARY:

Mrs M Mascall

REGISTERED OFFICE:

162-164 High Street

Rayleigh

Essex

SS6 7BS

REGISTERED NUMBER:

07648947 (England and Wales)

ACCOUNTANTS:

ESW Chartered Accountants

162-164 High Street

Rayleigh

Essex

SS6 7BS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

15,463

20,501

15,463

20,501

CURRENT ASSETS

Stocks

3,750

3,750

Debtors

6

871

1,226

Cash at bank

83,892

115,575

88,513

120,551

CREDITORS

Amounts falling due within one year

7

(21,796

)

(35,160

)

NET CURRENT ASSETS

66,717

85,391

TOTAL ASSETS LESS CURRENT LIABILITIES

82,180

105,892

PROVISIONS FOR LIABILITIES

8

(2,627

)

(3,605

)

NET ASSETS

79,553

102,287

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

79,453

102,187

SHAREHOLDERS' FUNDS

79,553

102,287

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th November 2025 and were signed on its behalf by:

J Mascall - Director

1.	STATUTORY INFORMATION

J M Upholstery 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost and 20% on 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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st July 2024

and 30th June 2025

48,000

AMORTISATION

At 1st July 2024

and 30th June 2025

48,000

NET BOOK VALUE

At 30th June 2025

-

At 30th June 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st July 2024

428

45,201

17,178

62,807

Additions

-

-

833

833

At 30th June 2025

428

45,201

18,011

63,640

DEPRECIATION

At 1st July 2024

355

28,438

13,513

42,306

Charge for year

15

4,191

1,665

5,871

At 30th June 2025

370

32,629

15,178

48,177

NET BOOK VALUE

At 30th June 2025

58

12,572

2,833

15,463

At 30th June 2024

73

16,763

3,665

20,501

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

871

1,226

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

729

5,557

Taxation and social security

16,910

20,870

Other creditors

4,157

8,733

21,796

35,160

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

2,627

3,605

Deferred

tax

£

Balance at 1st July 2024

3,605

Accelerated capital allowances

(978

)

Balance at 30th June 2025

2,627

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1st July 2024

102,187

Profit for the year

44,266

Dividends

(67,000

)

At 30th June 2025

79,453

11.	RELATED PARTY DISCLOSURES

Other creditors include balances due to the company directors, Mr J Mascall and Mr L Mascall. The amounts outstanding at the balance sheet date amounted £329 and £1,350 respectively (2024: £172 and £6,311).