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Company No: 11617769 (England and Wales)

JAM LEISURE GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

JAM LEISURE GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

JAM LEISURE GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 November 2023
JAM LEISURE GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 9,418 0
Investments 4 300 300
9,718 300
Current assets
Debtors 5 220,114 185,999
Cash at bank and in hand 2,014 8,002
222,128 194,001
Creditors: amounts falling due within one year 6 ( 204,357) ( 179,448)
Net current assets 17,771 14,553
Total assets less current liabilities 27,489 14,853
Provision for liabilities 7 ( 1,469) 0
Net assets 26,020 14,853
Capital and reserves
Called-up share capital 8 400 400
Profit and loss account 25,620 14,453
Total shareholders' funds 26,020 14,853

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 financial statements of Jam Leisure Group Limited (registered number: 11617769) were approved and authorised for issue by the Board of Directors on 23 August 2024. They were signed on its behalf by:

Mr Adrian Hobbs
Director
JAM LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
JAM LEISURE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jam Leisure Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Park Lane, 1 Torwood Street, Torquay, TQ1 1ED, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 15 % reducing balance
Office equipment 15 % reducing balance
Computer equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 67 63

3. Tangible assets

Vehicles Office equipment Computer equipment Total
£ £ £ £
Cost
At 01 December 2022 0 0 0 0
Additions 3,367 778 5,962 10,107
At 30 November 2023 3,367 778 5,962 10,107
Accumulated depreciation
At 01 December 2022 0 0 0 0
Charge for the financial year 253 107 329 689
At 30 November 2023 253 107 329 689
Net book value
At 30 November 2023 3,114 671 5,633 9,418
At 30 November 2022 0 0 0 0

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 December 2022 300
At 30 November 2023 300
Carrying value at 30 November 2023 300
Carrying value at 30 November 2022 300

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 199,776 105,649
Amounts owed by directors 20,338 79,950
Other debtors 0 400
220,114 185,999

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 31,990 4,805
Amounts owed to Group undertakings 15,373 17,173
Amounts owed to directors 77,893 97,893
Accruals 3,250 3,000
Taxation and social security 70,565 52,003
Other creditors 5,286 4,574
204,357 179,448

7. Deferred tax

2023 2022
£ £
At the beginning of financial year 0 0
Charged to the Statement of Income and Retained Earnings ( 1,469) 0
At the end of financial year ( 1,469) 0

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
400 Ordinary shares of £ 1.00 each 400 400

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed to Directors 77,893 97,893
Amounts owed by Directors (20,338) (79,950)

During the year the directors maintained a loan account with the company. Interest has been charged at the HMRC approved rate for overdrawn balances.

10. Ultimate controlling party

As a parent company of four wholly owned subsidiaries undertaking, the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the group.