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Company No: 05717797 (England and Wales)

JAMUS BUSINESS GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

JAMUS BUSINESS GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

JAMUS BUSINESS GROUP LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
JAMUS BUSINESS GROUP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR J.B Gambrell
REGISTERED OFFICE 28 Old Brompton Road
Suite 98
London
SW7 3SS
United Kingdom
COMPANY NUMBER 05717797 (England and Wales)
ACCOUNTANT Evelyn Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
JAMUS BUSINESS GROUP LIMITED

BALANCE SHEET

As at 31 December 2023
JAMUS BUSINESS GROUP LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 382 3,029
382 3,029
Current assets
Debtors 4 30,728 32,217
Cash at bank and in hand 41,976 88,624
72,704 120,841
Creditors: amounts falling due within one year 5 ( 370,669) ( 396,253)
Net current liabilities (297,965) (275,412)
Total assets less current liabilities (297,583) (272,383)
Net liabilities ( 297,583) ( 272,383)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 297,683 ) ( 272,483 )
Total shareholder's deficit ( 297,583) ( 272,383)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Jamus Business Group Limited (registered number: 05717797) were approved and authorised for issue by the Director on 22 December 2024. They were signed on its behalf by:

J.B Gambrell
Director
JAMUS BUSINESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
JAMUS BUSINESS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Jamus Business Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 28 Old Brompton Road, Suite 98, London, SW7 3SS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Jamus Business Group Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The director has assessed the Balance Sheet and forecasted cash flows covering a period of 12 months from the date of approval of these financial statements. The director notes that the business has net liabilities of £297,602 (2022: £272,383). The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Based on this ongoing financial support, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise on monetary items.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 January 2023 615 22,788 23,403
At 31 December 2023 615 22,788 23,403
Accumulated depreciation
At 01 January 2023 615 19,759 20,374
Charge for the financial year 0 2,647 2,647
At 31 December 2023 615 22,406 23,021
Net book value
At 31 December 2023 0 382 382
At 31 December 2022 0 3,029 3,029

4. Debtors

2023 2022
£ £
Prepayments 27,567 29,074
Corporation tax 1,019 1,019
Other debtors 2,142 2,124
30,728 32,217

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to director 257,070 274,406
Accruals 5,600 5,600
Other taxation and social security 11,132 11,132
Other creditors 96,867 105,115
370,669 396,253

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with the entity's director

At the balance sheet date, amounts totaling £257,070 (2022: £274,406) was due to the Director. The balance is interest free and repayable in demand and has been included within other creditors.