JM Engineering (Scarborough) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06429273 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

JM Engineering (Scarborough) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

8

DIRECTOR:

Mr M Eccles

SECRETARY:

Miss C Atkinson

REGISTERED OFFICE:

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

BUSINESS ADDRESS:

Unit 1.4, Plaxton Park

Cayton Low Road

Eastfield

Scarborough

North Yorkshire

YO11 3BQ

REGISTERED NUMBER:

06429273 (England and Wales)

ACCOUNTANTS:

Asquith & Co Accountants Limited

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

FIXED ASSETS

Tangible assets

4

643,413

604,178

CURRENT ASSETS

Stocks

50,000

43,500

Debtors

5

341,663

209,929

Cash at bank

129,015

132,479

520,678

385,908

CREDITORS

Amounts falling due within one year

6

478,159

333,009

NET CURRENT ASSETS

42,519

52,899

TOTAL ASSETS LESS CURRENT LIABILITIES

685,932

657,077

CREDITORS

Amounts falling due after more than one year

7

(82,933

)

(137,307

)

PROVISIONS FOR LIABILITIES

(109,476

)

(104,344

)

ACCRUALS AND DEFERRED INCOME

(68,400

)

(75,600

)

NET ASSETS

425,123

339,826

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

424,123

338,826

SHAREHOLDERS' FUNDS

425,123

339,826

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

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

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 on 28 February 2018 and were signed by:

Mr M Eccles - Director

1.	STATUTORY INFORMATION

JM Engineering (Scarborough) 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 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.

Turnover

Turnover represents net invoiced sales of goods and services, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Over the terms of the lease

Plant and machinery

-

20% on reducing balance and 8% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

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

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 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.

Government grants

Grants are credited to deferred income in the company's balance sheet. Grants towards capital expenditure are

released to the profit and loss account over the expected useful life of the assets to which they relate.

The company has previously received a grant which relates to capital expenditure with a depreciation rate of 8%

on cost per annum, effective from 1 January 2015. The grant will be released to the profit and loss account at the

same rate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2016 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2017

36,462

724,834

62,833

29,799

853,928

Additions

-

134,410

-

476

134,886

At 31 December 2017

36,462

859,244

62,833

30,275

988,814

DEPRECIATION

At 1 January 2017

21,790

182,866

27,185

17,909

249,750

Charge for year

3,668

78,637

8,913

4,433

95,651

At 31 December 2017

25,458

261,503

36,098

22,342

345,401

NET BOOK VALUE

At 31 December 2017

11,004

597,741

26,735

7,933

643,413

At 31 December 2016

14,672

541,968

35,648

11,890

604,178

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

Plant and

machinery

£

COST

At 1 January 2017

558,000

Additions

75,000

At 31 December 2017

633,000

DEPRECIATION

At 1 January 2017

96,612

Charge for year

50,640

At 31 December 2017

147,252

NET BOOK VALUE

At 31 December 2017

485,748

At 31 December 2016

461,388

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

290,807

176,159

Other debtors

27,900

22,900

Prepayments

22,956

10,870

341,663

209,929

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

531

6,276

Hire purchase contracts

99,829

76,249

Trade creditors

211,538

125,724

Tax

30,746

34,426

Social security and other taxes

10,359

11,031

Pensions

386

675

VAT

62,950

52,827

Other creditors

51,500

12,000

Directors' current accounts

4,701

9,206

Accrued expenses

5,619

4,595

478,159

333,009

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans - 2-5 years

-

552

Hire purchase contracts

82,933

136,755

82,933

137,307

8.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of the majority shareholder, Mr M Eccles.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2017 set out on pages two to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Asquith & Co Accountants Limited

Rowan House

7 West Bank

SCARBOROUGH

North Yorkshire

YO12 4DX

28 February 2018