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Registration number: 06002310

Supajam Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Supajam Limited

Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

498

623

Tangible assets

6

9,729

13,897

Investments

7

10

10

 

10,237

14,530

Current assets

 

Debtors

8

987

-

Cash at bank and in hand

 

902

11,904

 

1,889

11,904

Creditors: Amounts falling due within one year

9

(19,901)

(51,702)

Net current liabilities

 

(18,012)

(39,798)

Net liabilities

 

(7,775)

(25,268)

Capital and reserves

 

Called up share capital

108

108

Share premium reserve

367,498

367,498

Retained earnings

(375,381)

(392,874)

Shareholders' deficit

 

(7,775)

(25,268)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

 

Supajam Limited

Statement of Financial Position as at 30 November 2023

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

.........................................

D R Court

Director

.........................................

N M Stillwell

Director

Company registration number: 06002310

 

Supajam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Grange
Market Square
Westerham
Kent
TN16 1HB

The principal activity of the company is that of the provision of educational management services.

2

Accounting policies

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year ended 30 November 2023 but had net liabilities of £7,775 and net current liabilities of £18,012 at that date. The directors are hopeful of continued profitability.

The directors have pledged their continued support to the company and after making enquiries, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of VAT, returns, rebates and discounts.The company recognises revenue for management services over the period in which the services are provided and when they can be reliably measured.

 

Supajam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Straight line

Fixtures, Fittings & Equipment

15% Reducing balance and 20% Straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

10 years Straight line

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Supajam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

4,168

8,508

Amortisation expense

125

125

5

Intangible assets

Patents
 £

Total
£

Cost or valuation

At 1 December 2022

1,247

1,247

At 30 November 2023

1,247

1,247

Amortisation

At 1 December 2022

624

624

Amortisation charge

125

125

At 30 November 2023

749

749

Carrying amount

At 30 November 2023

498

498

At 30 November 2022

623

623

 

Supajam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Tangible assets

Furniture, fittings and equipment
 £

Plant and Machinery
£

Total
£

Cost or valuation

At 1 December 2022

67,104

12,417

79,521

Disposals

(47,552)

-

(47,552)

At 30 November 2023

19,552

12,417

31,969

Depreciation

At 1 December 2022

57,582

8,042

65,624

Charge for the year

1,685

2,483

4,168

Eliminated on disposal

(47,552)

-

(47,552)

At 30 November 2023

11,715

10,525

22,240

Carrying amount

At 30 November 2023

7,837

1,892

9,729

At 30 November 2022

9,522

4,375

13,897

7

Investments

2023
£

2022
£

Investments in subsidiaries

10

10

Subsidiaries

£

Cost or valuation

At 1 December 2022 and 30 November 2023

10

Carrying amount

At 30 November 2023

10

At 30 November 2022

10

8

Debtors

2023
£

2022
£

Amounts owed by group undertakings

314

-

Other debtors

673

-

987

-

 

Supajam Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Amounts owed to group undertakings

-

9,242

Other creditors

19,901

42,460

19,901

51,702

10

Related party transactions

Exemption is taken under FRS102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.