JM-Imports Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05776194 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 April 2015

for

JM-Imports Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

JC Vallons

SECRETARY:

L Mckenzie

REGISTERED OFFICE:

Unit 12

Bassington Lane Trade Centre Park

Bassington Industrial Estate

Cramlington

Northumberland

NE23 8AD

REGISTERED NUMBER:

05776194 (England and Wales)

FIXED ASSETS

Tangible assets

2

24,234

17,023

CURRENT ASSETS

Stock & Work in Progress

64,183

43,200

Debtors

47,136

3,572

Cash at bank

5,148

7,069

116,467

53,841

CREDITORS

Amounts falling due within one year

130,251

57,096

NET CURRENT LIABILITIES

(13,784

)

(3,255

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,450

13,768

PROVISIONS FOR LIABILITIES

(1,603

)

(1,307

)

ACCRUALS AND DEFERRED INCOME

(1,975

)

(2,060

)

NET ASSETS

6,872

10,401

CAPITAL AND RESERVES

Called up share capital

3

1

1

Profit and loss account

6,871

10,400

SHAREHOLDERS' FUNDS

6,872

10,401

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 January 2016 and were signed by:

JC Vallons - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Short Leasehold Improvements

-

4% on cost

Fixtures and fittings

-

20% on reducing balance

Stocks

Stock & work in progress 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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been

enacted or substantively enacted by the balance sheet date.

Deferred taxation is accounted for at expected tax rates on all differences arising from the inclusion of items of

income and expenditure in taxation computations in periods different from those in which they are included in the

financial statements. A deferred tax asset is only recognised when it is more likely than not that the asset will be

recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing differences can

be deducted.

Income recognition & work in progress

Revenue is recognised at the point at which goods and services are supplied to customers. Where services have been

performed/goods ordered and the proportion not invoiced until after the year end, specific revenue is recognised and

provided for by reference to the value of work performed.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

23,129

Additions

11,919

At 30 April 2015

35,048

DEPRECIATION

At 1 May 2014

6,106

Charge for year

4,708

At 30 April 2015

10,814

NET BOOK VALUE

At 30 April 2015

24,234

At 30 April 2014

17,023

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1

Ordinary

1

1

1