JMA King West Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05820656 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th April 2018

for

JMA King West Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J King

R E W West

REGISTERED OFFICE:

10 Church Square

Market Harborough

Leicestershire

LE16 7NB

REGISTERED NUMBER:

05820656 (England and Wales)

ACCOUNTANTS:

D. K. Rumsby & Co Limited

3 Colwick Quays

Colwick

Nottingham

Nottinghamshire

NG4 2JY

FIXED ASSETS

Tangible assets

4

-

-

CURRENT ASSETS

Stocks

2,942

2,734

Debtors

5

8,004

10,188

10,946

12,922

CREDITORS

Amounts falling due within one year

6

(449,295

)

(431,636

)

NET CURRENT LIABILITIES

(438,349

)

(418,714

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(438,349

)

(418,714

)

CREDITORS

Amounts falling due after more than one year

7

-

(4,187

)

NET LIABILITIES

(438,349

)

(422,901

)

CAPITAL AND RESERVES

Called up share capital

9

20,000

20,000

Retained earnings

(458,349

)

(442,901

)

SHAREHOLDERS' FUNDS

(438,349

)

(422,901

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 19th November 2018 and were signed on its behalf by:

R E W West - Director

1.	STATUTORY INFORMATION

JMA King West 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.

Tangible fixed assets

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

Equipment

-

33% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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.

Going concern

At the balance sheet date the value of the company's liabilities exceed the assets. The company is

reliant on its support of the parent company that it will provide continued support for at least twelve

months from the date of signing these financial statements. On this basis, the directors consider it

appropriate to prepare the finance statements on a going concern basis. The financial statements do

not reflect any adjustments that might be necessary should the support be withdrawn.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Equipment

fittings

vehicles

Totals

£

£

£

£

COST

At 1st May 2017

and 30th April 2018

12,583

19,923

26,202

58,708

DEPRECIATION

At 1st May 2017

and 30th April 2018

12,583

19,923

26,202

58,708

NET BOOK VALUE

At 30th April 2018

-

-

-

-

At 30th April 2017

-

-

-

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

4,540

8,125

Other debtors

3,464

2,063

8,004

10,188

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans and overdrafts

59,737

89,442

Trade creditors

1,417

7,047

Amounts owed to group undertakings

232,941

208,747

Other creditors

155,200

126,400

449,295

431,636

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans

-

4,187

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.18

30.4.17

£

£

Bank overdrafts

55,491

52,963

Bank loans

4,246

40,666

59,737

93,629

One of the company's directors has provided a personal guarantee to the company's bankers in respect

of the bank loans and overdrafts.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.18

30.4.17

value:

£

£

20,000

Ordinary

£1

20,000

20,000

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of King West Limited, a company registered in England and

Wales.