Deepjam Limited 06040598 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is Amusement and Recreation Activities Digita Accounts Production Advanced 6.30.9574.0 true true 06040598 2022-02-01 2023-01-31 06040598 2023-01-31 06040598 bus:OrdinaryShareClass1 2023-01-31 06040598 core:OtherReservesSubtotal 2023-01-31 06040598 core:RetainedEarningsAccumulatedLosses 2023-01-31 06040598 core:ShareCapital 2023-01-31 06040598 core:CurrentFinancialInstruments 2023-01-31 06040598 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 06040598 core:Non-currentFinancialInstruments 2023-01-31 06040598 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 06040598 core:FurnitureFittingsToolsEquipment 2023-01-31 06040598 bus:SmallEntities 2022-02-01 2023-01-31 06040598 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06040598 bus:FullAccounts 2022-02-01 2023-01-31 06040598 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06040598 bus:RegisteredOffice 2022-02-01 2023-01-31 06040598 bus:Director1 2022-02-01 2023-01-31 06040598 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 06040598 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06040598 core:FurnitureFittings 2022-02-01 2023-01-31 06040598 countries:England 2022-02-01 2023-01-31 06040598 2022-01-31 06040598 core:FurnitureFittingsToolsEquipment 2022-01-31 06040598 2021-02-01 2022-01-31 06040598 2022-01-31 06040598 bus:OrdinaryShareClass1 2022-01-31 06040598 core:OtherReservesSubtotal 2022-01-31 06040598 core:RetainedEarningsAccumulatedLosses 2022-01-31 06040598 core:ShareCapital 2022-01-31 06040598 core:CurrentFinancialInstruments 2022-01-31 06040598 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 06040598 core:Non-currentFinancialInstruments 2022-01-31 06040598 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 06040598 core:FurnitureFittingsToolsEquipment 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06040598

Deepjam Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Deepjam Limited

(Registration number: 06040598)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

750,000

750,000

Current assets

 

Cash at bank and in hand

 

55,772

34,792

Creditors: Amounts falling due within one year

6

(75,063)

(63,815)

Net current liabilities

 

(19,291)

(29,023)

Total assets less current liabilities

 

730,709

720,977

Creditors: Amounts falling due after more than one year

6

(617,566)

(647,181)

Provisions for liabilities

(15,820)

(15,820)

Net assets

 

97,323

57,976

Capital and reserves

 

Called up share capital

8

100

100

Other reserves

90,423

90,423

Retained earnings

6,800

(32,547)

Shareholders' funds

 

97,323

57,976

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Deepjam Limited

(Registration number: 06040598)
Balance Sheet as at 31 January 2023

Approved and authorised by the director on 20 October 2023
 


Mr D Powell
Director

   
 

Deepjam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 Moor Lane
Strensall
York
YO32 5UG

The company registration number is 06040598.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Deepjam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director or an independent valuer. The director or independent valuer uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

 

Deepjam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

4,381

4,381

At 31 January 2023

4,381

4,381

Depreciation

At 1 February 2022

4,381

4,381

At 31 January 2023

4,381

4,381

Carrying amount

At 31 January 2023

-

-

At 31 January 2022

-

-

 

Deepjam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Investment properties

2023
£

At 1 February

750,000

At 31 January

750,000

A valuation of the investment property was done by an independent valuer in 2020.

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

28,826

27,346

Trade payables

 

174

168

Social security and other taxes

 

12,306

4,527

Other payables

 

33,757

31,774

 

75,063

63,815

The bank borrowings are secured on the assets of the company.

 

Deepjam Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

28,826

27,346

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

268,537

298,152

Other borrowings

349,029

349,029

617,566

647,181

Creditors include bank loans repayable by instalments of £162,610 (2022 - £181,154) due after more than five years.

Creditors also include amounts due to the director of £349,029 (2022 - £349,029) which is repayable after more than one year. No interest is charged on this balance.

The bank loans are secured on the assets of the company.

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100