JCM CONTRACTS (MIDLANDS) LTD. - Accounts to registrar (filleted) - small 18.2

JCM CONTRACTS (MIDLANDS) LTD. - Accounts to registrar (filleted) - small 18.2

JCM CONTRACTS (MIDLANDS) LTD. - Company Information

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REGISTERED NUMBER: 04390777 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

JCM Contracts (Midlands) Ltd.
JCM Contracts (Midlands) Ltd. (Registered number: 04390777)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

JCM Contracts (Midlands) Ltd.

Company Information
for the Year Ended 31 March 2022







DIRECTORS: N Macaulay
C Smith





REGISTERED OFFICE: Unit 22 Crystal Drive
Smethwick
West Midlands
B66 1QG





REGISTERED NUMBER: 04390777 (England and Wales)





ACCOUNTANTS: Rowdens Limited
Chartered Accountants
2 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX
Page 1
JCM Contracts (Midlands) Ltd. (Registered number: 04390777)

Abridged Balance Sheet
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,627 35,218

CURRENT ASSETS
Stocks 11,500 4,500
Debtors 565,398 670,848
Cash at bank 208,713 59,446
785,611 734,794
CREDITORS
Amounts falling due within one year 161,907 218,425
NET CURRENT ASSETS 623,704 516,369
TOTAL ASSETS LESS CURRENT
LIABILITIES
711,331
551,587

CREDITORS
Amounts falling due after more than one
year
(35,631
)
(42,094
)

PROVISIONS FOR LIABILITIES (16,649 ) (6,691 )
NET ASSETS 659,051 502,802

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 658,051 501,802
659,051 502,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 notes form part of these financial statements

Page 2 continued...
JCM Contracts (Midlands) Ltd. (Registered number: 04390777)

Abridged Balance Sheet - continued
31 March 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 6 December 2022 and were signed on its behalf by:





N Macaulay - Director


The notes form part of these financial statements

Page 3
JCM Contracts (Midlands) Ltd. (Registered number: 04390777)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

JCM Contracts (Midlands) Ltd. 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.
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 20% on cost

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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 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.


Page 4 continued...
JCM Contracts (Midlands) Ltd. (Registered number: 04390777)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 12 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021 127,093
Additions 65,168
At 31 March 2022 192,261
DEPRECIATION
At 1 April 2021 91,875
Charge for year 12,759
At 31 March 2022 104,634
NET BOOK VALUE
At 31 March 2022 87,627
At 31 March 2021 35,218

Page 5
Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
JCM Contracts (Midlands) Ltd.

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JCM Contracts (Midlands) Ltd. for the year ended 31 March 2022 which comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JCM Contracts (Midlands) Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JCM Contracts (Midlands) Ltd. and state those matters that we have agreed to state to the Board of Directors of JCM Contracts (Midlands) Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JCM Contracts (Midlands) Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JCM Contracts (Midlands) Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JCM Contracts (Midlands) Ltd.. You consider that JCM Contracts (Midlands) Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JCM Contracts (Midlands) Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Rowdens Limited
Chartered Accountants
2 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX


6 December 2022

This page does not form part of the statutory financial statements

Page 6