REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
Jamak Fabrication Europe Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2022 |
for |
Jamak Fabrication Europe Limited |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Contents of the Financial Statements |
for the Year Ended 31 December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Jamak Fabrication Europe Limited |
Company Information |
for the Year Ended 31 December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
3 Sheen Road |
Richmond Upon Thames |
TW9 1AD |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Balance Sheet |
31 December 2022 |
2022 | 2021 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Other reserves |
Retained earnings |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Balance Sheet - continued |
31 December 2022 |
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 |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Notes to the Financial Statements |
for the Year Ended 31 December 2022 |
1. | STATUTORY INFORMATION |
The company is a private company limited by share capital, incorporated in England and Wales. |
The address of its registered office is: |
Unit 50 Oakhill 61 |
Devonshire Road |
Walkden |
Manchester |
M28 3PT |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS |
The company has taken exemption from preparing group accounts as it is in included in consolidated accounts for a larger group which are drawn up as full consolidated audited accounts. |
TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
TANGIBLE FIXED ASSETS |
Fixtures and fittings | - |
Motor vehicles | - |
STOCKS |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
TAXATION |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
3. | ACCOUNTING POLICIES - continued |
DEFINED CONTRIBUTION PENSION OBLIGATION |
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. |
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. |
FOREIGN CURRENCY TRANSACTIONS AND BALANCES |
Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account. |
SUMMARY OF DISCLOSURE EXEMPTIONS |
The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. Exemptions have been taken in these financial statements in relation to presentation of a cash flow statement and disclosure of intra-group related party transactions. |
BUSINESS COMBINATIONS |
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably. |
INVESTMENTS |
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable. |
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 merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
6. | FIXED ASSET INVESTMENTS |
Investments |
in |
subsidiaries |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
In the opinion of directors, the company is exempt from preparing group financial statements by section 402 of Companies Act 2006, as the inclusion of the subsidiary is not material for the purpose of giving true and fair view. |
7. | STOCKS |
2022 | 2021 |
£ | £ |
Stocks |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Jamak Fabrication Europe Limited (Registered number: 01336691) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2022 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
12. | FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES |
Amounts not provided for in the balance sheet |
The total amount of financial commitments not included in the balance sheet is £135,000 (2021 - |
£95,118). |
13. | RELATED PARTY DISCLOSURES |
Jamak Fabrications Inc. |
(A member of the JMK International Inc Group) |
At the balance sheet date, amount owed to related party was £10,952 (2021- £6,859), of which included in trade payables is £4,093 (2021- Nil) and included in amount due to group undertakings is £6,859 (2021 - £6,859) |
Silicone Fabrications Limited |
(Dormant Subsidiary) |
At the balance sheet date, amount owed by group undertakings was £109,745 (2021- £109,745) and included in amount owed to group undertakings was £450,526 (2021- £450,526). |
14. | PARENT AND ULTIMATE PARENT UNDERTAKING |
The company's immediate parent is JMK Holdings, incorporated in United States of America. |
The most senior parent entity producing publicly available financial statements is JMK International Inc. These financial statements are available upon request from 1401 North Bowie Drive, Weatherford, Texas 76086 USA |