JMT Same Day Express Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05077725 (England and Wales)

JMT Same Day Express Limited

Trading as

Interlink Express

Unaudited Financial Statements for the Year Ended 31 March 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Bonar

Mr M A Price

SECRETARY:

Swindells & Gentry Company Secretarial Limited

REGISTERED OFFICE:

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

REGISTERED NUMBER:

05077725 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

39,667

47,761

39,667

47,761

CURRENT ASSETS

Debtors

6

152,213

140,973

Cash at bank

102,708

127,868

254,921

268,841

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

144,002

142,594

NET CURRENT ASSETS

110,919

126,247

TOTAL ASSETS LESS CURRENT LIABILITIES

150,586

174,008

PROVISIONS FOR LIABILITIES

4,941

6,977

NET ASSETS

145,645

167,031

CAPITAL AND RESERVES

Called up share capital

8

198

198

Retained earnings

145,447

166,833

SHAREHOLDERS' FUNDS

145,645

167,031

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2020 and were signed on its behalf by:

Mr J P Bonar - Director

1.	STATUTORY INFORMATION

JMT Same Day Express 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

Turnover represents revenue net of VAT from commercial transactions, under which the company

supplies customers the goods and services that it is business to provide and it is recognised when the

company obtains, through performance under contract, the right to consideration for those services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss

Account, 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.

Pension costs and other post-retirement benefits

The company contributes to employees' defined contribution pension schemes. Contributions

payable to the pension schemes are charged to the profit and loss account in the period to which

they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2019 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2019

and 31 March 2020

77,000

AMORTISATION

At 1 April 2019

and 31 March 2020

77,000

NET BOOK VALUE

At 31 March 2020

-

At 31 March 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2019

25,203

76,106

15,519

116,828

Additions

141

4,655

3,281

8,077

Disposals

(5,587

)

(1,000

)

(8,298

)

(14,885

)

At 31 March 2020

19,757

79,761

10,502

110,020

DEPRECIATION

At 1 April 2019

14,654

40,733

13,680

69,067

Charge for year

1,337

9,820

2,491

13,648

Eliminated on disposal

(3,814

)

(250

)

(8,298

)

(12,362

)

At 31 March 2020

12,177

50,303

7,873

70,353

NET BOOK VALUE

At 31 March 2020

7,580

29,458

2,629

39,667

At 31 March 2019

10,549

35,373

1,839

47,761

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

140,110

138,999

Other debtors

12,103

1,974

152,213

140,973

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

4,667

941

Taxation and social security

102,377

102,088

Other creditors

36,958

39,565

144,002

142,594

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

196

Ordinary A

£1.00

196

196

2

Ordinary B

£1.00

2

2

198

198

Each Ordinary A Share ranks equally and carries one vote in a poll.

Each Ordinary B Share ranks equally and carries no voting rights in a poll.

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £21,667 (2019 -

£73,333).