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REGISTERED NUMBER: 01318091 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Jaymar Packaging Limited

Jaymar Packaging Limited (Registered number: 01318091)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Balance Sheet 1

Notes to the Financial Statements 3


Jaymar Packaging Limited (Registered number: 01318091)

Balance Sheet
31 December 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,516,673 2,308,434

CURRENT ASSETS
Debtors 5 1,412,703 1,341,908
Cash at bank and in hand 759,384 1,127,660
2,172,087 2,469,568
CREDITORS
Amounts falling due within one year 6 896,462 794,287
NET CURRENT ASSETS 1,275,625 1,675,281
TOTAL ASSETS LESS CURRENT LIABILITIES 3,792,298 3,983,715

CREDITORS
Amounts falling due after more than one
year

7

(582,861

)

(48,333

)

PROVISIONS FOR LIABILITIES (267,404 ) (183,843 )
NET ASSETS 2,942,033 3,751,539

CAPITAL AND RESERVES
Called up share capital 49 100
Non distributable reserves 803,609 578,982
Capital redemption reserve 51 -
Retained earnings 2,138,324 3,172,457
SHAREHOLDERS' FUNDS 2,942,033 3,751,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Jaymar Packaging Limited (Registered number: 01318091)

Balance Sheet - continued
31 December 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2022 and were signed on its behalf by:





Mr C A Street - Director


Jaymar Packaging Limited (Registered number: 01318091)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Jaymar Packaging Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01318091

Registered office: Jaymar House
First Avenue
Crewe Gate Industrial Estate
Crewe
Cheshire
CW1 6XS

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 as modified by the revaluation of certain assets.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. That being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy. Therefore the financial statements have been prepared on a going concern basis.

Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Income is recognised when a right to consideration under each contract has been obtained through performance and reflects the contract activity during the year with any profits, having regard to their stage of completion, being included within debtors and shown as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - NIL % per annum
Improvements to property - 5% on cost
Plant and machinery - 15% on reducing balance and 10% on reducing balance
Fixtures, fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.


Jaymar Packaging Limited (Registered number: 01318091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2020 - 36 ) .

Jaymar Packaging Limited (Registered number: 01318091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST OR VALUATION
At 1 January 2021 989,475 98,915 2,671,798
Additions - - 11,746
Disposals - - (10,865 )
Revaluations 310,525 1,085 -
At 31 December 2021 1,300,000 100,000 2,672,679
DEPRECIATION
At 1 January 2021 - 2,643 1,580,980
Charge for year - 4,946 91,662
Revaluation adjustments - (7,589 ) -
At 31 December 2021 - - 1,672,642
NET BOOK VALUE
At 31 December 2021 1,300,000 100,000 1,000,037
At 31 December 2020 989,475 96,272 1,090,818

Fixtures,
fittings
and Motor
equipment vehicles Totals
£    £    £   
COST OR VALUATION
At 1 January 2021 252,227 78,175 4,090,590
Additions 6,981 - 18,727
Disposals - - (10,865 )
Revaluations - - 311,610
At 31 December 2021 259,208 78,175 4,410,062
DEPRECIATION
At 1 January 2021 163,130 35,403 1,782,156
Charge for year 12,665 9,549 118,822
Revaluation adjustments - - (7,589 )
At 31 December 2021 175,795 44,952 1,893,389
NET BOOK VALUE
At 31 December 2021 83,413 33,223 2,516,673
At 31 December 2020 89,097 42,772 2,308,434

Jaymar Packaging Limited (Registered number: 01318091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2021 is represented by:

Improvements
Freehold to Plant and
property property machinery
£    £    £   
Valuation in 2021 310,525 1,085 -
Cost 989,475 98,915 2,672,679
1,300,000 100,000 2,672,679

Fixtures,
fittings
and Motor
equipment vehicles Totals
£    £    £   
Valuation in 2021 - - 311,610
Cost 259,208 78,175 4,098,452
259,208 78,175 4,410,062

If freehold property had not been revalued it would have been included at the following historical cost:

2021 2020
£    £   
Cost 1,088,390 1,088,390
Aggregate depreciation 7,589 2,643

Freehold property was valued on an open market value basis on 19 May 2022 by Edwards & Co .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 891,023 916,447
Accrued income 458,296 384,368
Other debtors 63,384 41,093
1,412,703 1,341,908

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 64,476 1,667
Trade creditors 481,919 367,541
Taxation and social security 269,707 339,776
Other creditors 80,360 85,303
896,462 794,287

Jaymar Packaging Limited (Registered number: 01318091)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 582,861 48,333

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 310,375 8,333

8. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 647,337 -

The bank loan is secured by fixed charge in favour of Natwest Bank plc over Jaymar House, First Avenue, Crewe.