JMM Financial Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09872785 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2019

FOR

JMM FINANCIAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J M Moss

REGISTERED OFFICE:

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

BUSINESS ADDRESS:

36 Opulus Way

Monmouth

Monmouthshire

NP25 5UW

REGISTERED NUMBER:

09872785 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

73

110

CURRENT ASSETS

Debtors

5

-

960

Cash at bank

77

55

77

1,015

CREDITORS

Amounts falling due within one year

6

6,542

8,397

NET CURRENT LIABILITIES

(6,465

)

(7,382

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,392

)

(7,272

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(6,492

)

(7,372

)

SHAREHOLDERS' FUNDS

(6,392

)

(7,272

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 23 March 2020 and were signed by:

J M Moss - Director

1.	STATUTORY INFORMATION

Jmm Financial Services 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.

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

Revenue represents the invoiced value of services provided during the period.

Revenue from consulting is recognised when the service has been provided and all obligations to the

customers have been fulfilled.

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.

Computer equipment

-

33% on reducing balance

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in

FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective

interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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.

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.

Going concern

The director has considered the risks and issues concerning the company and it's activities and no

material uncertainties that may cast significant doubt about the company's ability of the company to

continue as a going concern have been identified by the director.

Provision for liabilities

Provisions are set up only where it is probable that a present obligation exists as a result of an event

prior to the balance sheet date and that a payment will be required in settlement that can be estimated

reliably. Where material, provisions are calculated on a discounted basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 December 2018

and 30 November 2019

371

DEPRECIATION

At 1 December 2018

261

Charge for year

37

At 30 November 2019

298

NET BOOK VALUE

At 30 November 2019

73

At 30 November 2018

110

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

-

960

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Social security and other taxes

786

923

Pension control

-

264

Directors' loan accounts

5,756

7,210

6,542

8,397

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2019

and 30 November 2018:

2019

2018

£

£

J M Moss

Balance outstanding at start of year

(7,210

)

3,609

Amounts advanced

10,467

3,410

Amounts repaid

(9,012

)

(14,229

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,755

)

(7,210

)

No interest is being charged on the loan and there are no set repayment terms.