REGISTERED NUMBER: 11353467 (England and Wales)

JMG Plant Ltd

Unaudited Financial Statements for the Year Ended 31 May 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Director:

J Gladden

Registered office:

Rose Cottage

Marsh Road

Potter Heigham

Norfolk

NR29 5LN

Registered number:

11353467 (England and Wales)

Accountants:

Fairhead Bradford

5 Queen Street

Great Yarmouth

Norfolk

NR30 2QP

Fixed assets

Tangible assets

4

87,952

109,577

Current assets

Debtors

5

6,294

1,435

Cash at bank

7,294

11,264

13,588

12,699

Creditors

Amounts falling due within one year

6

73,429

67,086

Net current liabilities

(59,841

)

(54,387

)

Total assets less current liabilities

28,111

55,190

Creditors

Amounts falling due after more than one year

7

(15,113

)

(37,781

)

Provisions for liabilities

(16,712

)

(20,821

)

Net liabilities

(3,714

)

(3,412

)

Capital and reserves

Called up share capital

1

1

Retained earnings

(3,715

)

(3,413

)

(3,714

)

(3,412

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 October 2025 and were signed by:

J Gladden - Director

1.	Statutory information

JMG Plant Ltd 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 recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be readily measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer;

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over goods sold;

- the amount of turnover can be measured reliably

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Financial instruments

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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

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

4.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 June 2024

203,286

29,920

233,206

Additions

1,000

-

1,000

At 31 May 2025

204,286

29,920

234,206

Depreciation

At 1 June 2024

103,887

19,742

123,629

Charge for year

20,080

2,545

22,625

At 31 May 2025

123,967

22,287

146,254

Net book value

At 31 May 2025

80,319

7,633

87,952

At 31 May 2024

99,399

10,178

109,577

5.

Debtors: amounts falling due within one year

31/5/25

31/5/24

£

£

Trade debtors

6,185

770

Other debtors

109

665

6,294

1,435

6.

Creditors: amounts falling due within one year

31/5/25

31/5/24

£

£

Hire purchase contracts

11,419

15,416

Trade creditors

6,248

8,734

Taxation and social security

36,124

19,296

Other creditors

19,638

23,640

73,429

67,086

7.

Creditors: amounts falling due after more than one year

31/5/25

31/5/24

£

£

Hire purchase contracts

5,738

17,156

Other creditors

9,375

20,625

15,113

37,781