Registration number:
Supajam Limited
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Supajam Limited
Statement of Financial Position as at 30 November 2023
Note |
2023 |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
108 |
108 |
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Share premium reserve |
367,498 |
367,498 |
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Retained earnings |
(375,381) |
(392,874) |
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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:
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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
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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
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 principal activity of the company is that of the provision of educational management services.
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
Staff numbers |
The average number of persons employed by the company during the year, was
Profit/loss before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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Amortisation expense |
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Intangible assets |
Patents |
Total |
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Cost or valuation |
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At 1 December 2022 |
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At 30 November 2023 |
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Amortisation |
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At 1 December 2022 |
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Amortisation charge |
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At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Supajam Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tangible assets |
Furniture, fittings and equipment |
Plant and Machinery |
Total |
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Cost or valuation |
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At 1 December 2022 |
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Disposals |
( |
- |
( |
At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 December 2022 and 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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Debtors |
2023 |
2022 |
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Amounts owed by group undertakings |
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- |
Other debtors |
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- |
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- |
Supajam Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Amounts owed to group undertakings |
- |
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Other creditors |
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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.