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
JAM CRACKERS LTD
Company Information
for the year ended 31 March 2024
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
JAM CRACKERS LTD
Statement of financial position
as at 31 March 2024
Tangible assets
48,138
49,122
Cash at bank and in hand
6,938
482
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)
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
JAM CRACKERS LTD
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
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 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.
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.
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.
JAM CRACKERS LTD
Notes to the Accounts
for the year ended 31 March 2024
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
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
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
At 31 March 2024
29,821
1,311
17,006
48,138
At 31 March 2023
44,510
1,958
2,654
49,122
JAM CRACKERS LTD
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
36,331
34,555
Other debtors
12,049
12,710
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
6,000
8,558
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
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
29,724
40,420
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan
554
74,758
43,388
31,924
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).