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REGISTERED NUMBER: 07197181 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Jam Photographic Limited

Jam Photographic Limited (Registered number: 07197181)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jam Photographic Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J Hutchings





REGISTERED OFFICE: 3 Park Square
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: 07197181 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Jam Photographic Limited (Registered number: 07197181)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,126 9,260

CURRENT ASSETS
Stocks 1,670 1,601
Debtors 5 10,320 8,990
Cash at bank 29,417 51,177
41,407 61,768
CREDITORS
Amounts falling due within one year 6 25,900 26,361
NET CURRENT ASSETS 15,507 35,407
TOTAL ASSETS LESS CURRENT
LIABILITIES

68,633

44,667

CREDITORS
Amounts falling due after more than one
year

7

(28,896

)

(14,114

)

PROVISIONS FOR LIABILITIES 8 (8,635 ) (1,760 )
NET ASSETS 31,102 28,793

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 31,002 28,693
SHAREHOLDERS' FUNDS 31,102 28,793

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Jam Photographic Limited (Registered number: 07197181)

Balance Sheet - continued
31 March 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2023 and were signed by:





J Hutchings - Director


Jam Photographic Limited (Registered number: 07197181)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Jam Photographic Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Jam Photographic Limited (Registered number: 07197181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 117,735 15,729 15,700 149,164
Additions 49,482 - - 49,482
At 31 March 2023 167,217 15,729 15,700 198,646
DEPRECIATION
At 1 April 2022 114,213 12,086 13,605 139,904
Charge for year 4,545 547 524 5,616
At 31 March 2023 118,758 12,633 14,129 145,520
NET BOOK VALUE
At 31 March 2023 48,459 3,096 1,571 53,126
At 31 March 2022 3,522 3,643 2,095 9,260

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 6,644 6,990
Loan debtor 2,532 2,000
VAT 1,144 -
10,320 8,990

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loan 4,792 4,792
Tax - 7,696
VAT - 3,415
Hire purchase creditor 10,274 -
Director's current account 170 349
Other creditors and accruals 10,664 10,109
25,900 26,361

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loan 11,302 14,114
Hire purchase creditor 17,594 -
28,896 14,114

Jam Photographic Limited (Registered number: 07197181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.

The bank loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 8,635 1,760

Deferred
tax
£   
Balance at 1 April 2022 1,760
Charge to Income Statement during year 6,875
Accelerated capital allowances
Balance at 31 March 2023 8,635

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2022 28,693
Profit for the year 29,309
Dividends (27,000 )
At 31 March 2023 31,002

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Hutchings.