JM Engineering (Scarborough) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06429273 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

JM Engineering (Scarborough) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

Mr M Eccles

SECRETARY:

Miss C Atkinson

REGISTERED OFFICE:

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

BUSINESS ADDRESS:

Unit 1.4, Plaxton Park

Cayton Low Road

Eastfield

Scarborough

North Yorkshire

YO11 3BQ

REGISTERED NUMBER:

06429273 (England and Wales)

ACCOUNTANTS:

Asquith & Co Accountants Limited

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

FIXED ASSETS

Tangible assets

4

621,871

643,413

CURRENT ASSETS

Stocks

50,000

50,000

Debtors

5

569,272

341,663

Cash at bank

70,184

129,015

689,456

520,678

CREDITORS

Amounts falling due within one year

6

558,572

478,159

NET CURRENT ASSETS

130,884

42,519

TOTAL ASSETS LESS CURRENT LIABILITIES

752,755

685,932

CREDITORS

Amounts falling due after more than one year

7

(20,684

)

(82,933

)

PROVISIONS FOR LIABILITIES

(104,791

)

(109,476

)

ACCRUALS AND DEFERRED INCOME

(61,200

)

(68,400

)

NET ASSETS

566,080

425,123

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

565,080

424,123

SHAREHOLDERS' FUNDS

566,080

425,123

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 20 February 2019 and were signed by:

Mr M Eccles - Director

1.	STATUTORY INFORMATION

JM Engineering (Scarborough) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

20% on reducing balance, 20% on cost, 8% on cost and Over the terms of the lease

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

Government grants

Grants are credited to deferred income in the company's balance sheet. Grants towards capital expenditure are

released to the profit and loss account over the expected useful life of the assets to which they relate.

The company has previously received a grant which relates to capital expenditure with a depreciation rate of 8%

on cost per annum, effective from 1 January 2015. The grant will be released to the profit and loss account at the

same rate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2017 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

988,814

Additions

90,876

Disposals

(15,600

)

At 31 December 2018

1,064,090

DEPRECIATION

At 1 January 2018

345,401

Charge for year

107,926

Eliminated on disposal

(11,108

)

At 31 December 2018

442,219

NET BOOK VALUE

At 31 December 2018

621,871

At 31 December 2017

643,413

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

633,000

Additions

30,934

At 31 December 2018

663,934

DEPRECIATION

At 1 January 2018

147,252

Charge for year

58,373

At 31 December 2018

205,625

NET BOOK VALUE

At 31 December 2018

458,309

At 31 December 2017

485,748

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

563,172

290,807

Other debtors

6,100

50,856

569,272

341,663

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

-

531

Hire purchase contracts

86,501

99,829

Trade creditors

284,973

211,538

Taxation and social security

167,814

104,441

Other creditors

19,284

61,820

558,572

478,159

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

20,684

82,933

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2018 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Asquith & Co Accountants Limited

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

Date: 20 February 2019