Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalsefalse42023-02-16The principal activity of the company is to provide business software development to assist businesses transform their automotive operations and logistics.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14666663 2023-02-15 14666663 2023-02-16 2024-03-31 14666663 2022-02-16 2023-02-15 14666663 2024-03-31 14666663 c:Director1 2023-02-16 2024-03-31 14666663 d:OfficeEquipment 2023-02-16 2024-03-31 14666663 d:OfficeEquipment 2024-03-31 14666663 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-16 2024-03-31 14666663 d:CurrentFinancialInstruments 2024-03-31 14666663 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14666663 d:ShareCapital 2023-02-16 2024-03-31 14666663 d:ShareCapital 2024-03-31 14666663 d:SharePremium 2023-02-16 2024-03-31 14666663 d:SharePremium 2024-03-31 14666663 d:RetainedEarningsAccumulatedLosses 2023-02-16 2024-03-31 14666663 d:RetainedEarningsAccumulatedLosses 2024-03-31 14666663 c:OrdinaryShareClass1 2023-02-16 2024-03-31 14666663 c:OrdinaryShareClass1 2024-03-31 14666663 c:FRS102 2023-02-16 2024-03-31 14666663 c:AuditExempt-NoAccountantsReport 2023-02-16 2024-03-31 14666663 c:FullAccounts 2023-02-16 2024-03-31 14666663 c:PrivateLimitedCompanyLtd 2023-02-16 2024-03-31 14666663 d:WithinOneYear 2024-03-31 14666663 2 2023-02-16 2024-03-31 14666663 e:PoundSterling 2023-02-16 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14666663










JIGCAR LTD (FORMERLY MYKARGO LTD)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
REGISTERED NUMBER: 14666663

BALANCE SHEET
AS AT 31 MARCH 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
2,053

  
2,053

Current assets
  

Debtors: amounts falling due within one year
 5 
13,559

Cash at bank and in hand
 6 
670,464

  
684,023

Creditors: amounts falling due within one year
 7 
(11,618)

Net current assets
  
 
 
672,405

Total assets less current liabilities
  
674,458

  

Net assets
  
674,458


Capital and reserves
  

Called up share capital 
 8 
126

Share premium account
  
740,462

Profit and loss account
  
(66,130)

  
674,458


Page 1

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
REGISTERED NUMBER: 14666663
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their 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 statement of income and retained earnings 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 by: 




................................................
E A Perks
Director

Date: 15 November 2024

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
 

STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


Comprehensive income for the period

Loss for the period
-
-
(66,130)
(66,130)


Contributions by and distributions to owners

Shares issued during the period
126
740,462
-
740,588


At 31 March 2024
126
740,462
(66,130)
674,458

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Jigcar Limited is a private company limited by shares and incorporated in England and Wales, registered number 14666663. The registered office is 25 Wilton Road, London, SW1V 1LW.

The Company was incorporated on 16 February 2023, therefore the financial statements represent at long period of accounts to 31 March 2024.
The Company changed the name on 24 July 2024 from MyKargo Ltd to Jigcar Ltd. In September 2024, it then began trading.

The Company's functional and presentational currency is GBP, rounded to the nearest whole GBP.

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

Going concern

The financial statements have been prepared on the going concern basis, based on the continued support of the directors and the shareholders.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

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.

Page 4

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Office 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

 
2.9

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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
Page 5

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the period was 4.






Page 6

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment

£



Cost


Additions
2,124



At 31 March 2024

2,124



Depreciation


Charge for the period on owned assets
71



At 31 March 2024

71



Net book value



At 31 March 2024
2,053


5.


Debtors

2024
£


Other debtors
8,478

Prepayments and accrued income
5,081

13,559



6.


Cash and cash equivalents

2024
£

Cash at bank and in hand
670,464


Page 7

 
JIGCAR LTD (FORMERLY MYKARGO LTD)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1,175

Other taxation and social security
6,069

Other creditors
1,624

Accruals and deferred income
2,750

11,618



8.


Share capital

2024
£
Allotted, called up and fully paid


1,104,158 Ordinary shares of £0.000114 each
126


On incorporation, 100 ordinary shares of £0.01 each were issued at par totalling £1.
On 19 February 2024, the shares were sub-divided into 876,000 ordinary shares totalling £1.
On 08 March 2024, a further 228,158 shares were issued, valued at £0.000114155 per share totalling £126, rounded to the nearest whole pound. 


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are heldseparately from those of the Company in an independently administered fund. Contributions totalling £374 were payable to the fund at the balance sheet date and are included in creditors.


10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Due within one year
14,432


11.


Controlling party

The ultimate controlling party is E Perks.

 
Page 8