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REGISTERED NUMBER: 01336691










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: A C Bowles
A Davis
A M Micallef
M Micallef
M Smethurst





SECRETARY: M Smethurst





REGISTERED OFFICE: Unit 50
Oakhill 61
Devonshire Road
Walkden
Manchester
M28 3PT





REGISTERED NUMBER: 01336691





AUDITORS: SKS Audit LLP
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 21,438 25,716
Investments 6 340,781 340,781
362,219 366,497

CURRENT ASSETS
Stocks 7 338,859 137,916
Debtors 8 575,037 590,137
Cash at bank and in hand 163,660 423,781
1,077,556 1,151,834
CREDITORS
Amounts falling due within one year 9 (124,900 ) (150,695 )
NET CURRENT ASSETS 952,656 1,001,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,314,875

1,367,636

CREDITORS
Amounts falling due after more than one year 10 (450,526 ) (450,526 )
NET ASSETS 864,349 917,110

CAPITAL AND RESERVES
Called up share capital 101,875 101,875
Share premium 555,406 555,406
Other reserves 1,875 1,875
Retained earnings 205,193 257,954
864,349 917,110

Jamak Fabrication Europe Limited (Registered number: 01336691)

Balance Sheet - continued
31 December 2022


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

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 7 November 2023 and were signed on its behalf by:





M Smethurst - Director


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

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

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10 to 25% straight line basis
Motor vehicles - 25% on cost

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 9 (2021 - 6 ) .

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 338,155 13,995 352,150
Additions 1,951 - 1,951
At 31 December 2022 340,106 13,995 354,101
DEPRECIATION
At 1 January 2022 312,439 13,995 326,434
Charge for year 6,229 - 6,229
At 31 December 2022 318,668 13,995 332,663
NET BOOK VALUE
At 31 December 2022 21,438 - 21,438
At 31 December 2021 25,716 - 25,716

6. FIXED ASSET INVESTMENTS
Investments
in
subsidiaries
£   
COST
At 1 January 2022
and 31 December 2022 340,781
NET BOOK VALUE
At 31 December 2022 340,781
At 31 December 2021 340,781

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 338,859 137,916

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 389,584 425,833
Amounts owed by group undertakings 109,745 109,745
Other debtors 75,708 54,559
575,037 590,137

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 91,452 114,591
Amounts owed to group undertakings 6,859 6,859
Taxation and social security 7,310 7,501
Other creditors 19,279 21,744
124,900 150,695

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 450,526 450,526

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Moganarden Pillay Chelvanaigum FCCA (Senior Statutory Auditor)
for and on behalf of SKS Audit LLP

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