Abbreviated Company Accounts - JM INVESTMENTS/TRADING LTD

Abbreviated Company Accounts - JM INVESTMENTS/TRADING LTD

JM INVESTMENTS/TRADING LTD - Company Information

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Registered Number 06968370

JM INVESTMENTS/TRADING LTD

Abbreviated Accounts

31 July 2015

JM INVESTMENTS/TRADING LTD Registered Number 06968370

Abbreviated Balance Sheet as at 31 July 2015

Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 3,965,416 1,101,976
3,965,416 1,101,976
Current assets
Debtors 289,917 77,243
Cash at bank and in hand 971 146
290,888 77,389
Creditors: amounts falling due within one year (2,646,734) (248,725)
Net current assets (liabilities) (2,355,846) (171,336)
Total assets less current liabilities 1,609,570 930,640
Creditors: amounts falling due after more than one year (1,651,113) (987,532)
Total net assets (liabilities) (41,543) (56,892)
Capital and reserves
Called up share capital 3 200 200
Profit and loss account (41,743) (57,092)
Shareholders' funds (41,543) (56,892)
  • For the year ending 31 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 2 November 2015

And signed on their behalf by:
MR KARAN ABBOTT, Director

JM INVESTMENTS/TRADING LTD Registered Number 06968370

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
TURNOVER REPRESENTS THE VALUE, NET OF VALUE ADDED TAX AND DISCOUNTS, OF GOODS PROVIDED TO CUSTOMERS AND WORK CARRIED OUT IN RESPECT OF SERVICES PROVIDED TO CUSTOMERS.

Tangible assets depreciation policy
DEPRECIATION HAS BEEN PROVIDED AT THE FOLLOWING RATES IN ORDER TO WRITE OFF THE ASSETS OVER THEIR ESTIMATED USEFUL LIVES.
PLANT & MACHINERY 20% STRAIGHT LINE
MOTOR VEHICLE 5% REDUCING BALANCE

Other accounting policies
TRANSACTION IN FOREIGN CURRENCIES ARE RECORDED AT THE RATE RULING AT THE DATE OF THE TRANSACTION. MONETARY ASSETS AND LIABILITIES DENOMINATED IN FOREIGN CURRENCIES ARE TRANSLATED AT THE RATE OF EXCHANGE RULING AT THE BALANCE DATE. ALL DIFFERENCES ARE TAKEN TO THE PROFIT AND LOSS ACCOUNT.

ASSETS HELD UNDER FINANCE LEASES AND HIRE PURCHASE CONTRACTS, WHICH ARE THOSE WHERE SUBSTANTIALLY ALL THE RISKS AND REWARDS O OWNERSHIP OF THE ASSETS HAVE PASSED TO THE COMPANY, ARE CAPITALISED IN THE BALANCE SHEET AND DEPRECIATED OVER THEIR USEFUL LIVES. THE CORRESPONDING LEASE OR HIRE PURCHASE OBLIGATION IS TREATED IN THE BALANCE SHEET AS A LIABILITY.
THE INTEREST ELEMENT OF THE RENTAL OBLIGATIONS IS CHARGED TO THE PROFIT AND LOSS ACCOUNT OVER THE PERIOD OF THE LEASE AND REPRESENTS A CONSTANT PROPORTION OF THE BALANCE OF CAPITAL REPAYMENTS OUTSTANDING
RENTAL PAID UNDER OPERATING LEASES ARE CHARGED TO INCOME ON A STRAIGHT LINE BASIS OVER THE LEASE TERM.

2Tangible fixed assets
£
Cost
At 1 August 2014 1,159,975
Additions 2,966,883
Disposals -
Revaluations -
Transfers -
At 31 July 2015 4,126,858
Depreciation
At 1 August 2014 57,999
Charge for the year 103,443
On disposals -
At 31 July 2015 161,442
Net book values
At 31 July 2015 3,965,416
At 31 July 2014 1,101,976
3Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
200 Ordinary shares of £1 each 200 200