J & M Gaskets and Seals Limited

Registered number

08438694

Filleted Accounts

31 March 2026

J & M Gaskets and Seals Limited
Registered number:		08438694
Balance Sheet
as at 31 March 2026

Notes			2026		2025

Fixed assets
Tangible assets	3		572		751

Current assets
Stocks		1,304		1,651
Debtors	4	12,000		-
Cash at bank and in hand		21,236		37,028
		34,540		38,679

Creditors: amounts falling due within one year	5	(33,401)		(38,331)

Net current assets			1,139		348

Total assets less current liabilities			1,711		1,099


Provisions for liabilities			(114)		(142)


Net assets			1,597		957

Capital and reserves
Called up share capital			20		20
Profit and loss account			1,577		937

Shareholders' funds			1,597		957

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M A Smith
Director
Approved by the board on 20 April 2026

J & M Gaskets and Seals Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office equipment	over 4 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees		2026		2025
Number				Number

	Average number of persons employed by the company		0		0

3	Tangible fixed assets
					Office equipment

	Cost
	At 1 April 2025				1,279
	Additions				187
	At 31 March 2026				1,466

	Depreciation
	At 1 April 2025				528
	Charge for the year				366
	At 31 March 2026				894

	Net book value
	At 31 March 2026				572
	At 31 March 2025				751


4	Debtors		2026		2025


	Other debtors		12,000		-


5	Creditors: amounts falling due within one year		2026		2025


	Trade creditors		61		1,950
	Taxation and social security costs		14,030		9,081
	Other creditors		19,310		27,300
			33,401		38,331


6	Related party transactions

	Advances, Credits and Guarantees At the balance sheet date, the following amounts were due from/(to) directors: Loan balance: £(12,000) (2024: £(13,500)) The loan is interest-free, unsecured and repayable on demand. No guarantees have been given to or on behalf of the directors.


7	Controlling party

	The directors consider that there is no individual controlling party.


8	Other information

	J & M Gaskets and Seals Limited is a private company limited by shares and incorporated in England. Its registered office is:
	48 High Street
	Heckmondwike
	West Yorkshire
	WF16 0AQ