JMS Enterprise Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07780502 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

JMS Enterprise Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J V Modi

REGISTERED OFFICE:

Mounts Works

Mounts Road

Wednesbury

West Midlands

WS10 0BU

REGISTERED NUMBER:

07780502 (England and Wales)

FIXED ASSETS

Intangible assets

4

2,866

-

Tangible assets

5

75,803

14,677

78,669

14,677

CURRENT ASSETS

Stocks

775,000

753,596

Debtors

247,939

76,930

Cash at bank

63,946

215,881

1,086,885

1,046,407

CREDITORS

Amounts falling due within one year

807,048

791,123

NET CURRENT ASSETS

279,837

255,284

TOTAL ASSETS LESS CURRENT LIABILITIES

358,506

269,961

CREDITORS

Amounts falling due after more than one year

(232,851

)

(228,980

)

PROVISIONS FOR LIABILITIES

(3,516

)

(2,789

)

NET ASSETS

122,139

38,192

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

122,039

38,092

SHAREHOLDERS' FUNDS

122,139

38,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 28 June 2023 and were signed by:

J V Modi - Director

1.	STATUTORY INFORMATION

JMS Enterprise 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil 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

-

10% on cost and 7.5% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 14 (2021 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

Additions

3,938

At 30 September 2022

3,938

AMORTISATION

Amortisation for year

1,072

At 30 September 2022

1,072

NET BOOK VALUE

At 30 September 2022

2,866

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2021

81,920

Additions

79,337

Disposals

(39,138

)

At 30 September 2022

122,119

DEPRECIATION

At 1 October 2021

67,243

Charge for year

6,090

Eliminated on disposal

(27,017

)

At 30 September 2022

46,316

NET BOOK VALUE

At 30 September 2022

75,803

At 30 September 2021

14,677

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.22

30.9.21

value:

£

£

100

Ordinary Share Capital

1

100

100

7.	RELATED PARTY DISCLOSURES

During the year the company made purchases of £Nil (2021 £62,500) from My1.stopshop Limited a company in which the director has common control. The company made sales to My1.stopshop Limited of £95,833 (2021 £Nil). At the balance sheet date the company owed £Nil (2021 £Nil) to My1.stopshoip Limited and was owed £4,686 (2021 £28,779). A company in which the directors has common control.

During the year the company made sales of £19,800 (2021 £Nil) to PLG International Limited a company in which the director has common control. At the balance sheet date the company was owed £Nil (2021 £20,000). A company in which the directors has common control.

At the balance sheet date the company was owed £25,783 (2021 £23,583) from SK Paper Limited a company in which the directors has common control.

At the balance sheet date the company was owed £198,978 (2021 £Nil) from PLG Homes Limited a company in which the directors has common control.