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Company Registration No. 7598261 (England and Wales)
JAM CRACKERS LTD Unaudited accounts for the year ended 31 March 2024
JAM CRACKERS LTD Unaudited accounts Contents
Page
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JAM CRACKERS LTD Company Information for the year ended 31 March 2024
Director
R C Latimer
Company Number
7598261 (England and Wales)
Registered Office
Unit 10 Leighton Industrial Park Billington Road Leighton Buzzard Bedfordshire LU7 4AJ England
Accountants
GIA Foley & Co West Clayton Business Centre Berry Lane Chorleywood Hertfordshire WD3 5EX
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JAM CRACKERS LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
2,293 
Tangible assets
48,138 
49,122 
48,138 
51,415 
Current assets
Inventories
15,000 
30,000 
Debtors
48,380 
47,265 
Cash at bank and in hand
6,938 
482 
70,318 
77,747 
Creditors: amounts falling due within one year
(48,648)
(43,149)
Net current assets
21,670 
34,598 
Total assets less current liabilities
69,808 
86,013 
Creditors: amounts falling due after more than one year
(59,724)
(76,420)
Provisions for liabilities
Deferred tax
(9,147)
(9,333)
Net assets
937 
260 
Capital and reserves
Called up share capital
400 
400 
Profit and loss account
537 
(140)
Shareholders' funds
937 
260 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 August 2024 and were signed on its behalf by
R C Latimer Director Company Registration No. 7598261
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JAM CRACKERS LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
JAM CRACKERS LTD is a private company, limited by shares, registered in England and Wales, registration number 7598261. The registered office is Unit 10, Leighton Industrial Park, Billington Road, Leighton Buzzard, Bedfordshire, LU7 4AJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
33% reducing balance
Fixtures & fittings
33% reducing balance
Computer equipment
33% reducing balance
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Bank loans are secured by the UK Government under the Corona Virus Business Support Scheme.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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JAM CRACKERS LTD Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
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 accounts. 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.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 April 2023
6,881 
At 31 March 2024
6,881 
Amortisation
At 1 April 2023
4,588 
Charge for the year
2,293 
At 31 March 2024
6,881 
Net book value
At 31 March 2024
- 
At 31 March 2023
2,293 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
61,373 
9,684 
9,402 
80,459 
Additions
- 
- 
15,316 
15,316 
At 31 March 2024
61,373 
9,684 
24,718 
95,775 
Depreciation
At 1 April 2023
16,863 
7,726 
6,748 
31,337 
Charge for the year
14,689 
647 
964 
16,300 
At 31 March 2024
31,552 
8,373 
7,712 
47,637 
Net book value
At 31 March 2024
29,821 
1,311 
17,006 
48,138 
At 31 March 2023
44,510 
1,958 
2,654 
49,122 
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JAM CRACKERS LTD Notes to the Accounts for the year ended 31 March 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
36,331 
34,555 
Other debtors
12,049 
12,710 
48,380 
47,265 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,000 
8,558 
VAT
15,634 
14,679 
Obligations under finance leases and hire purchase contracts
10,696 
7,293 
Trade creditors
4,507 
8,653 
Taxes and social security
9,682 
3,113 
Other creditors
2,129 
853 
48,648 
43,149 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
30,000 
36,000 
Obligations under finance leases and hire purchase contracts
29,724 
40,420 
59,724 
76,420 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
R C Latimer
Loan
554 
74,758 
43,388 
31,924 
S R Latimer
Loan
970 
23,250 
24,220 
- 
1,524 
98,008 
67,608 
31,924 
The loans to the Directors are interest free, repayable on demand.
10
Average number of employees
During the year the average number of employees was 5 (2023: 4).
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