Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-04-01falseNo description of principal activity33truefalse 05218087 2023-04-01 2024-03-31 05218087 2022-04-01 2023-03-31 05218087 2024-03-31 05218087 2023-03-31 05218087 c:Director1 2023-04-01 2024-03-31 05218087 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 05218087 d:Buildings d:LongLeaseholdAssets 2024-03-31 05218087 d:Buildings d:LongLeaseholdAssets 2023-03-31 05218087 d:PlantMachinery 2023-04-01 2024-03-31 05218087 d:PlantMachinery 2024-03-31 05218087 d:PlantMachinery 2023-03-31 05218087 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05218087 d:OfficeEquipment 2023-04-01 2024-03-31 05218087 d:OfficeEquipment 2024-03-31 05218087 d:OfficeEquipment 2023-03-31 05218087 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05218087 d:ComputerEquipment 2023-04-01 2024-03-31 05218087 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 05218087 d:Goodwill 2023-04-01 2024-03-31 05218087 d:Goodwill 2024-03-31 05218087 d:Goodwill 2023-03-31 05218087 d:CurrentFinancialInstruments 2024-03-31 05218087 d:CurrentFinancialInstruments 2023-03-31 05218087 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 05218087 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05218087 d:ShareCapital 2024-03-31 05218087 d:ShareCapital 2023-03-31 05218087 d:RetainedEarningsAccumulatedLosses 2024-03-31 05218087 d:RetainedEarningsAccumulatedLosses 2023-03-31 05218087 c:FRS102 2023-04-01 2024-03-31 05218087 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 05218087 c:FullAccounts 2023-04-01 2024-03-31 05218087 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05218087 2 2023-04-01 2024-03-31 05218087 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 05218087 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 05218087 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 05218087









JAYMIC LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
JAYMIC LIMITED
REGISTERED NUMBER: 05218087

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
9,499
4,957

  
9,500
4,958

Current assets
  

Stocks
  
165,220
152,507

Debtors: amounts falling due within one year
 6 
6,971
15,202

Cash at bank and in hand
  
52,370
59,311

  
224,561
227,020

Creditors: amounts falling due within one year
 7 
(90,689)
(103,352)

Net current assets
  
 
 
133,872
 
 
123,668

Total assets less current liabilities
  
143,372
128,626

Provisions for liabilities
  

Deferred tax
 8 
(2,228)
(1,239)

  
 
 
(2,228)
 
 
(1,239)

Net assets
  
141,144
127,387


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
141,044
127,287

  
141,144
127,387


Page 1

 
JAYMIC LIMITED
REGISTERED NUMBER: 05218087

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 August 2024.




................................................
Mrs F L Moore
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
JAYMIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Jaymic Limited is a private company limited by shares, incorporated in England and Wales, with a company registration number of 05218087. The address of the registered office is 2002 Thurgarton Road, Aldborough, Norwich, Norfolk, NR11 7NY.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
JAYMIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and Loss Account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
JAYMIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
20% straight line
Plant & machinery
-
25% straight line
Office and computer equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
JAYMIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
1



At 31 March 2024

1






Net book value



At 31 March 2024
1



At 31 March 2023
1



Page 6

 
JAYMIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Leasehold Property
Plant & machinery
Office and computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
8,354
15,765
31,514
55,633


Additions
-
-
11,121
11,121



At 31 March 2024

8,354
15,765
42,635
66,754



Depreciation


At 1 April 2023
8,354
15,764
26,558
50,676


Charge for the year on owned assets
-
-
6,579
6,579



At 31 March 2024

8,354
15,764
33,137
57,255



Net book value



At 31 March 2024
-
1
9,498
9,499



At 31 March 2023
-
1
4,956
4,957


6.


Debtors

2024
2023
£
£


Trade debtors
3,202
6,668

Other debtors
50
-

Prepayments
3,719
8,534

6,971
15,202



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
14,632
24,917

Corporation tax
4,336
4,129

Other taxation and social security
434
3,717

Other creditors
68,787
68,214

Accruals
2,500
2,375

90,689
103,352


Page 7

 
JAYMIC LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024


£






At beginning of year
1,239


Charged to profit or loss
989



At end of year
2,228

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
2,228
1,239


9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £11,320 (2023 - £21,320). Contributions of £587 (2023 - 293) were payable to the fund at the balance sheet date.


Page 8