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REGISTERED NUMBER: 11480810 (England and Wales)



















JAM ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






JAM ESTATES LIMITED (REGISTERED NUMBER: 11480810)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

JAM ESTATES LIMITED (REGISTERED NUMBER: 11480810)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 50 50
Investment property 5 760,875 760,875
760,925 760,925

CURRENT ASSETS
Stocks 224,445 224,445
Debtors 6 895 5,395
Cash at bank 50,243 28,748
275,583 258,588
CREDITORS
Amounts falling due within one year 7 76,973 63,471
NET CURRENT ASSETS 198,610 195,117
TOTAL ASSETS LESS CURRENT
LIABILITIES

959,535

956,042

CREDITORS
Amounts falling due after more than one
year

8

963,425

963,443
NET LIABILITIES (3,890 ) (7,401 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (3,990 ) (7,501 )
(3,890 ) (7,401 )

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

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

The directors acknowledge their 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 ESTATES LIMITED (REGISTERED NUMBER: 11480810)

BALANCE SHEET - continued
31 JULY 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





Mrs B K Basra - Director


JAM ESTATES LIMITED (REGISTERED NUMBER: 11480810)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Jam Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11480810

Registered office: 10 Station Road
Letchworth Garden City
United Kingdom
Hertfordshire
SG6 3AU

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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover also represents rent receivable, excluding value added tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


JAM ESTATES LIMITED (REGISTERED NUMBER: 11480810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 50
NET BOOK VALUE
At 31 July 2023 50
At 31 July 2022 50

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 760,875
NET BOOK VALUE
At 31 July 2023 760,875
At 31 July 2022 760,875

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 895 5,395

JAM ESTATES LIMITED (REGISTERED NUMBER: 11480810)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,259 5,242
Trade creditors 15,078 898
Taxation and social security 1,186 352
Other creditors 57,450 56,979
76,973 63,471

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 175,425 175,443
Other creditors 788,000 788,000
963,425 963,443

Bank loans due more than 5 years by instalments amount to £162,391 (2022: £154,474).

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 178,684 180,685

10. RELATED PARTY DISCLOSURES

Basra Investments Limited
A company controlled by close family members.

Amounts due to the related at the balance sheet date is £175,000 (2022: £175,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.


Mandeep Singh Basra
A close family member.

Amounts due to the related party at the balance sheet date is £100,000 (2022: £100,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

11. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by Manpreet Limited, Abinaas Limited and Jaskeerat Limited.

Mrs B K Basra, has control over Manpreet Limited, Abinaas Limited and Jaskeerat Limited.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
JAM ESTATES LIMITED (REGISTERED NUMBER: 11480810)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jam Estates Limited for the year ended 31 July 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Jam Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jam Estates Limited and state those matters that we have agreed to state to the Board of Directors of Jam Estates Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jam Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jam Estates Limited. You consider that Jam Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Jam Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Jones Hunt & Keelings
Chartered Certified Accountants and
Chartered Tax Advisers
71 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


30 July 2024