JM Foods Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09645232 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2019

for

JM Foods Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A E Perry

REGISTERED OFFICE:

4 Millgate Court

Guildford Road

Farnham

Surrey

GU9 9PP

REGISTERED NUMBER:

09645232 (England and Wales)

ACCOUNTANT:

Accountancy and Business Improvement Ltd

The Oast House

Suite 5B

5 Mead Lane

Farnham

Surrey

GU9 7DY

FIXED ASSETS

Tangible assets

4

10,737

15,795

CURRENT ASSETS

Stocks

5

3,953

8,998

Debtors

6

16,669

22,783

Cash at bank

11,730

9,183

32,352

40,964

CREDITORS

Amounts falling due within one year

7

32,002

50,813

NET CURRENT ASSETS/(LIABILITIES)

350

(9,849

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,087

5,946

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10,987

5,846

SHAREHOLDERS' FUNDS

11,087

5,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 on 14 January 2020 and were signed by:

A E Perry - Director

1.	STATUTORY INFORMATION

JM Foods 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.

Tangible fixed assets

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

Stocks

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

for obsolete and slow moving items.

Long term contracts are stated at net cost less forseeable losses less any applicable

payments on account. The amount recorded as turnover in respect of long term contracts is

ascertained by reference to the value of the work carried out to date. Attributable profit is

recognised as the difference between recorded turnover and related costs.

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 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2018

and 30 June 2019

20,233

DEPRECIATION

At 1 July 2018

4,438

Charge for year

5,058

At 30 June 2019

9,496

NET BOOK VALUE

At 30 June 2019

10,737

At 30 June 2018

15,795

5.

STOCKS

30.6.19

30.6.18

£

£

Stocks

9,014

10,756

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

14,887

21,207

Other debtors

1,782

1,576

16,669

22,783

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

23,824

45,879

Taxation and social security

5,975

2,329

Other creditors

2,203

2,605

32,002

50,813