| The JMH Partnership Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes plus work in progress. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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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 on a reducing balance basis over its expected useful life, as follows: |
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Computers, furniture and equipment |
20% |
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Debtors |
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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. |
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Creditors |
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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. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all material timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
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Provisions |
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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. |
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Foreign currency translation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Senior statutory auditor: |
Stephen Anderson |
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Firm: |
Knox Cropper LLP |
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Date of audit report: |
16 October 2025 |
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| 3 |
Employees |
2024 |
|
2023 |
| Number |
Number |
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Average number of persons employed by the company |
5 |
|
7 |
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| 4 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 January 2024 |
500,000 |
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At 31 December 2024 |
500,000 |
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Amortisation |
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At 1 January 2024 |
500,000 |
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At 31 December 2024 |
500,000 |
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Net book value |
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At 31 December 2024 |
- |
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Goodwill was written off in equal annual instalments over its estimated economic life of 5 years. |
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| 5 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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At 1 January 2024 |
105,170 |
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Additions |
1,701 |
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Disposals |
(77,210) |
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At 31 December 2024 |
29,661 |
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Depreciation |
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At 1 January 2024 |
89,902 |
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Charge for the year |
11,095 |
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On disposals |
(77,210) |
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At 31 December 2024 |
23,787 |
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Net book value |
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At 31 December 2024 |
5,874 |
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At 31 December 2023 |
15,268 |
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| 6 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
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Trade debtors |
556,643 |
|
560,484 |
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Other debtors - prepayments |
3,462 |
|
2,839 |
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560,105 |
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563,323 |
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| 7 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
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Trade creditors |
12,526 |
|
- |
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Taxation and social security costs |
246,525 |
|
171,836 |
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Other creditors |
104,094 |
|
19,937 |
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363,145 |
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191,773 |
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| 8 |
Other information |
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The JMH Partnership Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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JMH House |
|
481 Green Lanes |
|
Palmers Green |
|
London |
|
N13 4BS |