JMT Same Day Express Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05077725 (England and Wales)

JMT Same Day Express Limited

Trading as

Interlink Express

Unaudited Financial Statements for the Year Ended 31 March 2018

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

54,154

127,617

54,154

127,617

CURRENT ASSETS

Debtors

6

145,426

176,201

Cash at bank

132,264

91,555

277,690

267,756

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

133,826

136,932

NET CURRENT ASSETS

143,864

130,824

TOTAL ASSETS LESS CURRENT LIABILITIES

198,018

258,441

PROVISIONS FOR LIABILITIES

8,783

19,815

NET ASSETS

189,235

238,626

CAPITAL AND RESERVES

Called up share capital

8

198

198

Retained earnings

189,037

238,428

SHAREHOLDERS' FUNDS

189,235

238,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 Account has not been delivered.

The financial statements were approved by the Board of Directors on 10 September 2018 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.

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.

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

Account, 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 33 (2017 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

77,000

AMORTISATION

At 1 April 2017

and 31 March 2018

77,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

104,249

189,732

11,044

305,025

Additions

1,641

21,500

3,434

26,575

Disposals

(84,802

)

(133,976

)

-

(218,778

)

At 31 March 2018

21,088

77,256

14,478

112,822

DEPRECIATION

At 1 April 2017

63,386

105,081

8,941

177,408

Charge for year

1,465

14,315

2,619

18,399

Eliminated on disposal

(52,058

)

(85,081

)

-

(137,139

)

At 31 March 2018

12,793

34,315

11,560

58,668

NET BOOK VALUE

At 31 March 2018

8,295

42,941

2,918

54,154

At 31 March 2017

40,863

84,651

2,103

127,617

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

130,164

158,091

Other debtors

15,262

18,110

145,426

176,201

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

1,902

1,957

Taxation and social security

97,501

87,086

Other creditors

34,423

47,889

133,826

136,932

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

98

Ordinary A

£1.00

196

196

2

Ordinary B

£1.00

2

2

198

198

Each Ordinary A Share ranks equally and carries one vote in a poll.

Each Ordinary B Share ranks equally and carries no voting rights in a poll.

9.	OTHER FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £60,755 (2017 :

£132,987).

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors who also have a participating interest in

the company a total of £nil (2017 - £4,562). The loans are unsecured, interest free and repayable on

demand.

In addition, the company owed two other owners who have a participating interest in the company a

total of £nil (2017 - £3,166). The loans are unsecured, interest free and repayable on demand.