JSM Associates Limited - Limited company - abbreviated - 11.9

REGISTERED NUMBER: 02459802 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

JSM ASSOCIATES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

J S Paton

Mrs M Paton

SECRETARY:

J S Paton

REGISTERED OFFICE:

24 Queen Avenue

Queen Insurance Buildings

Dale Street

Liverpool

Merseyside

L2 4TZ

REGISTERED NUMBER:

02459802 (England and Wales)

ACCOUNTANTS:

Additions

Chartered Accountants

24 Queen Avenue

Queen Insurance Buildings

Dale Street

Liverpool

L2 4TZ

FIXED ASSETS

Tangible assets

2

753,197

754,248

CURRENT ASSETS

Debtors

385,179

425,610

Cash at bank

3,015

10,008

388,194

435,618

CREDITORS

Amounts falling due within one year

647,637

699,614

NET CURRENT LIABILITIES

(259,443

)

(263,996

)

TOTAL ASSETS LESS CURRENT LIABILITIES

493,754

490,252

CREDITORS

Amounts falling due after more than one year

47,617

47,617

NET ASSETS

446,137

442,635

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Revaluation reserve

361,460

361,460

Profit and loss account

83,677

80,175

SHAREHOLDERS' FUNDS

446,137

442,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 December 2015 and were signed on its behalf by:

J S Paton - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2007).

Turnover

Turnover represents net invoiced sales of 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.

Investment property

-

not provided

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Deferred tax

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

balance sheet date. Deferred tax assets are recognised when it is more likely than not that they will be

recovered. Deferred tax is measured using rates of tax that have been enacted or substantively enacted by the

balance sheet date. The deferred tax balance is not discounted.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 April 2014

and 31 March 2015

789,937

DEPRECIATION

At 1 April 2014

35,689

Charge for year

1,051

At 31 March 2015

36,740

NET BOOK VALUE

At 31 March 2015

753,197

At 31 March 2014

754,248

The investment property is comprised of freehold land (£750,000).

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

1,000

Ordinary

£1

1,000

1,000