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Registered number: 11465546
Jaam Automation Ltd
Directors' Report and
Unaudited Financial Statements
For The Year Ended 5 April 2024
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Statement of Changes in Equity 7
Notes to the Financial Statements 8—11
Page 1
Company Information
Directors A Du Toit
A Murphy
J D Smith
G M Penman
Secretary J D Smith
Company Number 11465546
Registered Office Kemp House, 160 City Road
London
EC1V 2NX
Accountants Exceed Accountants Limited
Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 5 April 2024.
Principal Activity
The company's principal activity continues to be that of software sales and related activities.
Directors
The directors who held office during the year were as follows:
A Du Toit
A Murphy
J D Smith
G M Penman
Small Company Rules
This report has 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.
On behalf of the board
J D Smith
Director
28/08/2024
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Page 3
Accountants' Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 5 April 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
28/08/2024
Exceed Accountants Limited
Ground Floor Marlborough House
298 Regents Park Road
London
N3 2SZ
Page 3
Page 4
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 2,174,266 1,548,830
Cost of sales (1,313,960 ) (1,017,243 )
GROSS PROFIT 860,306 531,587
Administrative expenses (500,926 ) (292,678 )
OPERATING PROFIT 359,380 238,909
Interest payable and similar charges (8,944 ) -
PROFIT BEFORE TAXATION 350,436 238,909
Tax on Profit (36,516 ) (46,468 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 313,920 192,441
The notes on pages 8 to 11 form part of these financial statements.
Page 4
Page 5
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 3 516 1,266
Tangible Assets 4 14,404 3,603
Investments 5 42 -
14,962 4,869
CURRENT ASSETS
Debtors 6 1,224,462 625,361
Cash at bank and in hand 326,347 352,782
1,550,809 978,143
Creditors: Amounts Falling Due Within One Year 7 (693,237 ) (267,515 )
NET CURRENT ASSETS (LIABILITIES) 857,572 710,628
TOTAL ASSETS LESS CURRENT LIABILITIES 872,534 715,497
Creditors: Amounts Falling Due After More Than One Year 8 (733,855 ) (635,738 )
NET ASSETS 138,679 79,759
CAPITAL AND RESERVES
Called up share capital 9 110 110
Share premium account 10,527 10,527
Profit and Loss Account 128,042 69,122
SHAREHOLDERS' FUNDS 138,679 79,759
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Page 6
For the year ending 5 April 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
J D Smith
Director
28/08/2024
The notes on pages 8 to 11 form part of these financial statements.
Page 6
Page 7
Statement of Changes in Equity
Share Capital Share Premium Profit and Loss Account Total
£ £ £ £
As at 6 April 2022 3 10,527 82,899 93,429
Profit for the year and total comprehensive income - - 192,441 192,441
Dividends paid - - (206,218) (206,218)
Arising on shares issued during the period 107 - - 107
As at 5 April 2023 and 6 April 2023 110 10,527 69,122 79,759
Profit for the year and total comprehensive income - - 313,920 313,920
Dividends paid - - (255,000) (255,000)
As at 5 April 2024 110 10,527 128,042 138,679
Page 7
Page 8
Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Software subscriptions and related subscription revenue streams are deferred and amortized over the period of the contract entered into. Consulting services and delivery revenue is recognised when the service takes place. 
1.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets are amortized on a straight line basis over the useful life of the asset. 
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are depreciated on a straight line basis, based on the useful life of the asset. 
Computer Equipment SLM on useful life of asset
1.5. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
1.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
1.7. Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of Companies Act 2006 not to prepare group accounts.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 8 (2023: 9)
8 9
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3. Intangible Assets
Other
£
Cost
As at 6 April 2023 2,250
As at 5 April 2024 2,250
Amortisation
As at 6 April 2023 984
Provided during the period 750
As at 5 April 2024 1,734
Net Book Value
As at 5 April 2024 516
As at 6 April 2023 1,266
4. Tangible Assets
Computer Equipment
£
Cost
As at 6 April 2023 4,354
Additions 13,794
As at 5 April 2024 18,148
Depreciation
As at 6 April 2023 751
Provided during the period 2,993
As at 5 April 2024 3,744
Net Book Value
As at 5 April 2024 14,404
As at 6 April 2023 3,603
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5. Investments
Unlisted
£
Cost
As at 6 April 2023 -
Additions 42
As at 5 April 2024 42
Provision
As at 6 April 2023 -
As at 5 April 2024 -
Net Book Value
As at 5 April 2024 42
As at 6 April 2023 -
Investments in subsidiary
£42 (2023: £Nil)
Jaam Automation Africa (Pty) Ltd
Company’s registered office address: PO Box 116, Douglasdale, Gauteng, 2165, South Africa
Nature of business: Software sales and delivery
Class of shares: Ordinary
% holding: 100%
Year end date: 28th February
Aggregates capital reserves: ZAR 134,000 (Y/E 28th February 2024)
Profit and loss: ZAR 91,000 (Y/E 28th February 2024)
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 650,455 156,170
Prepayments and accrued income 548,177 468,790
Other debtors 25,830 401
1,224,462 625,361
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 432,422 184,710
Bank loans and overdrafts 4,667 -
Corporation tax 58,273 49,956
Other taxes and social security 6,862 3,560
VAT 100,415 16,232
Pensions payable 2,105 -
Capchase facility 26,002 -
Accruals and deferred income 62,491 13,057
693,237 267,515
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 16,948 24,043
Accruals and deferred income 716,865 600,427
Directors loan account 42 11,268
733,855 635,738
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 110 110
Value Number 2024 2023
Allotted, called up and fully paid £ £ £
Ordinary Shares 0.1 1,100 110 110
10. Related Party Transactions
At the balance sheet date, included within other debtors due within one year, is an amount of £2,875 (2023: £401) owed to Jaam Automation Africa (Pty) Ltd. This loan is interest free, of no fixed term and repayable on demand.
11. General Information
Jaam Automation Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11465546 . The registered office is Kemp House, 160 City Road, London, EC1V 2NX.
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