J. M. Chisholm Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02913067 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

J. M. CHISHOLM LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

L Chisholm

Secretary:

L Chisholm

Registered office:

Second Floor

1 Church Square

Leighton Buzzard

Bedfordshire

LU7 1AE

Registered number:

02913067 (England and Wales)

Accountants:

PKW Accountancy Ltd

Second Floor

1 Church Square

Leighton Buzzard

Bedfordshire

LU7 1AE

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

150,896

155,273

150,896

155,273

Current assets

Debtors

6

48,087

61,616

Cash at bank

14,760

40,612

62,847

102,228

Creditors

Amounts falling due within one year

7

118,265

164,915

Net current liabilities

(55,418

)

(62,687

)

Total assets less current liabilities

95,478

92,586

Provisions for liabilities

2,495

3,327

Net assets

92,983

89,259

Capital and reserves

Called up share capital

570,100

570,100

Retained earnings

(477,117

)

(480,841

)

Shareholders' funds

92,983

89,259

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 director acknowledges her 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 14 December 2018 and were signed by:

L Chisholm - Director

1.	Statutory information

J. M. Chisholm 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings - nil

Plant and machinery - 25% on cost

Vehicles - 25% on reduced balance

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.

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.

Going concern

The Director has agreed to continue to support the company financially for the foreseeable future. Therefore, the

Accounts have been prepared on the going concern basis.

3.	Employees and directors

The average number of employees during the year was 4 (2017 - 5 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2017

and 31 March 2018

248,157

Amortisation

At 1 April 2017

and 31 March 2018

248,157

Net book value

At 31 March 2018

-

At 31 March 2017

-

5.	Tangible fixed assets

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

At 1 April 2017

and 31 March 2018

137,765

282,760

420,525

Depreciation

At 1 April 2017

-

265,252

265,252

Charge for year

-

4,377

4,377

At 31 March 2018

-

269,629

269,629

Net book value

At 31 March 2018

137,765

13,131

150,896

At 31 March 2017

137,765

17,508

155,273

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

Plant and

machinery

etc

£

Cost

At 1 April 2017

and 31 March 2018

41,500

Depreciation

At 1 April 2017

23,992

Charge for year

4,377

At 31 March 2018

28,369

Net book value

At 31 March 2018

13,131

At 31 March 2017

17,508

6.

Debtors: amounts falling due within one year

31.3.18

31.3.17

£

£

Trade debtors

32,494

43,408

Other debtors

15,593

18,208

48,087

61,616

7.

Creditors: amounts falling due within one year

31.3.18

31.3.17

£

£

Hire purchase contracts

-

8,880

Trade creditors

52,665

92,555

Taxation and social security

17,078

17,386

Other creditors

48,522

46,094

118,265

164,915

8.	Ultimate controlling party

The ultimate controlling party is L Chisholm.