JEM Homes Limited - Accounts to registrar (filleted) - small 18.2

JEM Homes Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 04430269 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2018

FOR

JEM HOMES LIMITED

JEM HOMES LIMITED (REGISTERED NUMBER: 04430269)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


JEM HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2018







DIRECTORS: J Murphy
P G Murphy





REGISTERED OFFICE: 75 Park Lane
Croydon
Surrey
CR9 1XS





REGISTERED NUMBER: 04430269 (England and Wales)





ACCOUNTANTS: Kings Mill Partnership
75 Park Lane
Croydon
Surrey
CR9 1XS

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JEM HOMES LIMITED


The following reproduces the text of the report prepared for the directors 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary
statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of JEM Homes Limited for the year ended 30 November 2018 which comprise the Income
Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's
accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of JEM Homes Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of JEM Homes Limited and state those matters that we have agreed to state to the Board of Directors of JEM Homes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JEM Homes Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that JEM Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JEM Homes Limited. You consider that JEM Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of JEM Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kings Mill Partnership
75 Park Lane
Croydon
Surrey
CR9 1XS


27 November 2019

JEM HOMES LIMITED (REGISTERED NUMBER: 04430269)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2018

2018 2017
Notes £    £   
CURRENT ASSETS
Stocks 1,492,843 2,024,747
Debtors 5 4,500 1,701
Cash at bank 30,392 67,240
1,527,735 2,093,688
CREDITORS
Amounts falling due within one year 6 356,208 227,963
NET CURRENT ASSETS 1,171,527 1,865,725
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,171,527

1,865,725

CREDITORS
Amounts falling due after more than one
year

7

1,117,681

1,865,588
NET ASSETS 53,846 137

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 53,844 135
SHAREHOLDERS' FUNDS 53,846 137

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

JEM HOMES LIMITED (REGISTERED NUMBER: 04430269)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2018


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 November 2019 and were signed on its behalf
by:





P G Murphy - Director


JEM HOMES LIMITED (REGISTERED NUMBER: 04430269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018


1. STATUTORY INFORMATION

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

Turnover
Turnover represents the invoiced value, net of Value Added Tax, of goods sold and services provided to
customers outside the group and, in the case of long term contracts, credit is taken appropriate to the stage of
completion when the outcome of the contract can be assessed with reasonable certainty.

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and
accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual
value, over their expected useful lives at the following rates.

Plant and machinery25% straight line

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets
to determine whether there is any indication that any items have suffered an impairment loss. If any such
indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the
impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable
value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of
inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net
realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the
related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of
stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any
reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an
expense in the period in which the reversal occurs.


JEM HOMES LIMITED (REGISTERED NUMBER: 04430269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2018


2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2017
and 30 November 2018 13,867
DEPRECIATION
At 1 December 2017
and 30 November 2018 13,867
NET BOOK VALUE
At 30 November 2018 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 4,500 1,701

JEM HOMES LIMITED (REGISTERED NUMBER: 04430269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2018


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 309,848 167,865
Taxation and social security 40,326 22,928
Other creditors 6,034 37,170
356,208 227,963

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans 1,117,681 1,865,588

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 699,000 1,531,168