JJEM Plumbing Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC623296 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2022

for

JJEM Plumbing Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M B Gorton

K Flynn

REGISTERED OFFICE:

5 Troon Road

Dundee

DD2 3FT

REGISTERED NUMBER:

SC623296 (Scotland)

ACCOUNTANTS:

HMR Consulting Limited

492A Perth Road

Dundee

DD2 1LR

FIXED ASSETS

Intangible assets

4

9,450

10,800

Tangible assets

5

5,202

7,023

14,652

17,823

CURRENT ASSETS

Stocks

23,375

27,282

Debtors

6

35,258

35,149

Cash at bank

46,518

41,502

105,151

103,933

CREDITORS

Amounts falling due within one year

7

32,100

73,864

NET CURRENT ASSETS

73,051

30,069

TOTAL ASSETS LESS CURRENT LIABILITIES

87,703

47,892

PROVISIONS FOR LIABILITIES

988

1,334

NET ASSETS

86,715

46,558

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

86,615

46,458

86,715

46,558

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 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 Board of Directors and authorised for issue on 30 December 2022 and were signed on its behalf by:

M B Gorton - Director

1.	STATUTORY INFORMATION

JJEM Plumbing Ltd is a private company, limited by shares , registered in Scotland. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, 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.

Plant and machinery etc

-

25% on reducing balance and 20% on cost

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

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 (2021 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

13,500

AMORTISATION

At 1 April 2021

2,700

Charge for year

1,350

At 31 March 2022

4,050

NET BOOK VALUE

At 31 March 2022

9,450

At 31 March 2021

10,800

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

12,475

Disposals

(142

)

At 31 March 2022

12,333

DEPRECIATION

At 1 April 2021

5,452

Charge for year

1,735

Eliminated on disposal

(56

)

At 31 March 2022

7,131

NET BOOK VALUE

At 31 March 2022

5,202

At 31 March 2021

7,023

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

34,744

34,585

Other debtors

514

564

35,258

35,149

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Taxation and social security

29,652

27,040

Other creditors

2,448

46,824

32,100

73,864