Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity410truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03068975 2022-01-01 2022-12-31 03068975 2021-01-01 2021-12-31 03068975 2022-12-31 03068975 2021-12-31 03068975 c:Director1 2022-01-01 2022-12-31 03068975 c:Director2 2022-01-01 2022-12-31 03068975 d:Buildings d:LongLeaseholdAssets 2022-01-01 2022-12-31 03068975 d:PlantMachinery 2022-01-01 2022-12-31 03068975 d:MotorVehicles 2022-01-01 2022-12-31 03068975 d:FurnitureFittings 2022-01-01 2022-12-31 03068975 d:CurrentFinancialInstruments 2022-12-31 03068975 d:CurrentFinancialInstruments 2021-12-31 03068975 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03068975 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03068975 d:ShareCapital 2022-12-31 03068975 d:ShareCapital 2021-12-31 03068975 d:RetainedEarningsAccumulatedLosses 2022-12-31 03068975 d:RetainedEarningsAccumulatedLosses 2021-12-31 03068975 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 03068975 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 03068975 c:FRS102 2022-01-01 2022-12-31 03068975 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 03068975 c:FullAccounts 2022-01-01 2022-12-31 03068975 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 03068975 2 2022-01-01 2022-12-31 03068975 4 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 03068975









JON ADAM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
JON ADAM LIMITED
REGISTERED NUMBER: 03068975

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
246,032
247,742

Cash at bank and in hand
 5 
155,543
4,703,625

  
401,575
4,951,367

Creditors: amounts falling due within one year
 6 
(492,669)
(5,029,293)

Net current liabilities
  
 
 
(91,094)
 
 
(77,926)

Total assets less current liabilities
  
(91,094)
(77,926)

  

Net liabilities
  
(91,094)
(77,926)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(91,194)
(78,026)

  
(91,094)
(77,926)


Page 1

 
JON ADAM LIMITED
REGISTERED NUMBER: 03068975
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




G J Gold
M R Laub
Director
Director


Date: 16 October 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JON ADAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Jon Adam Limited is a private company limited by shares and is incorporated and domiciled in England. The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Given that the company is in a net deficit position, the directors have obtained assurances from its immediate and ultimate parent company to continue to provide funds to meet its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
JON ADAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
JON ADAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.9

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
over the term of the leases
Plant and machinery
-
20%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures, fittings & equipment
-
20%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
JON ADAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2022
        2021
            No.
            No.







Management
3
3



Administration
1
1



Sales and distribution
-
6

4
10


4.


Debtors

2022
2021
£
£


Trade debtors
-
8,779

Other debtors
246,032
212,383

Prepayments and accrued income
-
26,580

246,032
247,742

Page 6

 
JON ADAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.Debtors (continued)



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
155,543
4,703,625

155,543
4,703,625



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
1,302
27,102

Amounts owed to group undertakings
451,115
4,689,915

Other taxation and social security
2,884
215

Other creditors
30,858
33,697

Accruals and deferred income
6,510
278,364

492,669
5,029,293



7.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
155,543
4,703,625




Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.


Financial assets that are debt instruments measured at amortised cost comprise trade debtors and loans receivable.


Financial liabilities measured at amortised cost comprise trade creditors, other creditors, loans payable and accruals.

Page 7

 
JON ADAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £15,788 (2021 - £75,417).

 
Page 8