Company registration number 11806069 (England and Wales)
JAMTOM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
JAMTOM LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JAMTOM LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
29 February 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Investment property
3
275,000
275,000
Current assets
Cash at bank and in hand
32,454
56,039
Creditors: amounts falling due within one year
4
(35,340)
(61,373)
Net current liabilities
(2,886)
(5,334)
Total assets less current liabilities
272,114
269,666
Creditors: amounts falling due after more than one year
5
(167,150)
(167,150)
Provisions for liabilities
(25,839)
(25,839)
Net assets
79,125
76,677
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
79,025
76,577
Total equity
79,125
76,677
For the financial year ended 29 February 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 3 December 2024 and are signed on its behalf by:
J Graham
Director
Company registration number 11806069 (England and Wales)
JAMTOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
Jamtom Limited is a private company limited by shares incorporated in England and Wales. The registered office is 28 Vicarage Lane, Kings Langley, Hertfordshire, United Kingdom, WD4 9HR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.
1.2
Turnover
Turnover is derived from rental income received on investment properties.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
JAMTOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 March 2023 and 29 February 2024
275,000
The company’s investment properties have been valued by the directors by reference to the sales price achieved by similar properties and market activity in the location where the property is situated.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,320
1,320
Corporation tax
401
Other creditors
33,619
60,053
35,340
61,373
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
167,150
167,150
6
Financial commitments, guarantees and contingent liabilities
The Mortgage Works (UK) Plc and Charter Court Financial Services Limited hold fixed charges against property held by the company.
JAMTOM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 4 -
7
Related party transactions
As at the balance sheet date, the company owed £1,977 (2023: £366) to J Graham, a director of the company. The loan is unsecured and repayable on demand.
At the balance sheet date, the company owed £26,407 (2023: £25,567) to T Howard, a director of the company. The loan is unsecured and repayable on demand.
At the balance sheet date, the company owed £3,856 (2023: £32,800) to Scotch Egg Productions Limited, a company controlled by J Graham. The loan is interest free, unsecured and repayable on demand.