2022-02-012023-01-312023-01-31falseSC457223JAIMAC DESIGN 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JAIMAC DESIGN LTD

Registered Number
SC457223
(Scotland)

Unaudited Financial Statements for the Year ended
31 January 2023

JAIMAC DESIGN LTD
Company Information
for the year from 1 February 2022 to 31 January 2023

Directors

MACDONALD, Daniel
MACDONALD, Pauline

Company Secretary

NICOLSON NOMINEES LTD

Registered Address

71 King Street
Kilmarnock
KA1 1PT

Registered Number

SC457223 (Scotland)
JAIMAC DESIGN LTD
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets53,6052,998
3,6052,998
Current assets
Debtors713,93515,670
Cash at bank and on hand5,94511,553
19,88027,223
Creditors amounts falling due within one year8(16,149)(11,962)
Net current assets (liabilities)3,73115,261
Total assets less current liabilities7,33618,259
Creditors amounts falling due after one year9(4,884)(8,580)
Net assets2,4529,679
Capital and reserves
Called up share capital102102
Profit and loss account2,3509,577
Shareholders' funds2,4529,679
The financial statements were approved and authorised for issue by the Board of Directors on 27 October 2023, and are signed on its behalf by:
MACDONALD, Daniel
Director
Registered Company No. SC457223
JAIMAC DESIGN LTD
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery25
Office Equipment20
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year21
5.Property, plant and equipment

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 223,7509,11012,860
Additions-1,5461,546
At 31 January 233,75010,65614,406
Depreciation and impairment
At 01 February 223,1386,7249,862
Charge for year153786939
At 31 January 233,2917,51010,801
Net book value
At 31 January 234593,1463,605
At 31 January 226122,3862,998
6.Dividends proposed and payable

2023

2022

££
Dividends Paid50,00032,000
Total50,00032,000
7.Debtors

2023

2022

££
Trade debtors / trade receivables6,77015,670
Amounts owed by associates and joint ventures / participating interests7,165-
Total13,93515,670
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables74-
Bank borrowings and overdrafts1,907-
Amounts owed to related parties-1,629
Taxation and social security12,5698,733
Accrued liabilities and deferred income1,5991,600
Total16,14911,962
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts4,8848,580
Total4,8848,580