JMT Same Day Express Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05077725 (England and Wales)

JMT Same Day Express Limited

Trading as

Interlink Express

Unaudited Financial Statements for the Year Ended 31 March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J P Bonar

Mr M A Price

SECRETARY:

Swindells & Gentry Company Secretarial Limited

REGISTERED OFFICE:

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

REGISTERED NUMBER:

05077725 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Wilson House

48 Brooklyn Road

Seaford

East Sussex

BN25 2DX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

127,617

118,972

127,617

118,972

CURRENT ASSETS

Debtors

6

176,201

191,208

Cash at bank

91,555

88,667

267,756

279,875

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

136,932

123,560

NET CURRENT ASSETS

130,824

156,315

TOTAL ASSETS LESS CURRENT LIABILITIES

258,441

275,287

PROVISIONS FOR LIABILITIES

19,815

21,135

NET ASSETS

238,626

254,152

CAPITAL AND RESERVES

Called up share capital

198

100

Retained earnings

238,428

254,052

SHAREHOLDERS' FUNDS

238,626

254,152

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit & loss has not been delivered.

The financial statements were approved by the Board of Directors on 7 September 2017 and were signed on its behalf by:

Mr J P Bonar - Director

1.	STATUTORY INFORMATION

JMT Same Day Express 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

This is the first year in which the financial statements have been prepared under FRS 102 and the

company has not been required to restate the comparative prior year amounts. There have been no

changes to the accounting policies other than amendments to certain wording to comply with FRS

102. The transition has not had a material effect on the financial position or financial performance of

the company.

Turnover

Turnover represents revenue net of VAT from commercial transactions, under which the company

supplies customers the goods and services that it is business to provide and it is recognised when the

company obtains, through performance under contract, the right to consideration for those services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & loss,

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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 contributes to employees' defined contribution pension schemes. Contributions

payable to the pension schemes are charged to the profit and loss account in the period to which

they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2016 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

77,000

AMORTISATION

At 1 April 2016

and 31 March 2017

77,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

104,249

146,399

9,732

260,380

Additions

-

43,333

2,216

45,549

Disposals

-

-

(904

)

(904

)

At 31 March 2017

104,249

189,732

11,044

305,025

DEPRECIATION

At 1 April 2016

56,175

76,863

8,370

141,408

Charge for year

7,211

28,218

1,475

36,904

Eliminated on disposal

-

-

(904

)

(904

)

At 31 March 2017

63,386

105,081

8,941

177,408

NET BOOK VALUE

At 31 March 2017

40,863

84,651

2,103

127,617

At 31 March 2016

48,074

69,536

1,362

118,972

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2016

43,434

Transfer to ownership

(43,434

)

At 31 March 2017

-

DEPRECIATION

At 1 April 2016

25,110

Charge for year

287

Transfer to ownership

(25,397

)

At 31 March 2017

-

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

18,324

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

158,091

151,472

Other debtors

18,110

39,736

176,201

191,208

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

-

1,209

Trade creditors

1,957

2,666

Taxation and social security

87,086

89,372

Other creditors

47,889

30,313

136,932

123,560

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

-

1,209

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £109,137 (2016

: £139,458).

10.	RELATED PARTY DISCLOSURES

Mr J Bonar

Director

2017

2016

£

£

Amount due to related party at the balance sheet date

2,249

8,312

This loan is interest free and repayable on demand.

Mr M Price

Director

2017

2016

£

£

Amount due to related party at the balance sheet date

2,313

2,388

This loan is interest free and repayable on demand.

11.	CONTROLLING PARTY

There is no one ultimate controlling party.