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Company No: 03152219 (England and Wales)

JEBESAM LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

JEBESAM LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

JEBESAM LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2023
JEBESAM LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 108 333
108 333
Current assets
Cash at bank and in hand 2,316 650
2,316 650
Creditors: amounts falling due within one year 5 ( 1,000) ( 15,202)
Net current assets/(liabilities) 1,316 (14,552)
Total assets less current liabilities 1,424 (14,219)
Net assets/(liabilities) 1,424 ( 14,219)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 1,324 ( 14,319 )
Total shareholders' funds/(deficit) 1,424 ( 14,219)

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Jebesam Limited (registered number: 03152219) were approved and authorised for issue by the Director on 23 October 2023. They were signed on its behalf by:

Q J Heaney
Director
JEBESAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
JEBESAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jebesam Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Tile House, 14a Homefield Road, London, SW19 4QF, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2.Transition to FRS102

The Company has adopted FRS 102 for the year ended 30 June 2023. The date of transition to FRS 102 was 1 July 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 2

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2022 4,355 4,355
At 30 June 2023 4,355 4,355
Accumulated depreciation
At 01 July 2022 4,022 4,022
Charge for the financial year 225 225
At 30 June 2023 4,247 4,247
Net book value
At 30 June 2023 108 108
At 30 June 2022 333 333

5. Creditors: amounts falling due within one year

2023 2022
£ £
Other creditors 1,000 15,202

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
30 A Ordinary shares of £ 1.00 each 30 30
40 B Ordinary shares of £ 1.00 each 40 40
30 C Ordinary shares of £ 1.00 each 30 30
100 100

7. Related party transactions

At the balance sheet date, the company owed nil (2022: £13,989) to the directors. No interest accrued on the loan during the year.