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REGISTERED NUMBER: 07197181 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Jam Photographic Limited

Jam Photographic Limited (Registered number: 07197181)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jam Photographic Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J Hutchings





REGISTERED OFFICE: 3 Park Square
Leeds
West Yorkshire
LS1 2NE





REGISTERED NUMBER: 07197181 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
3 Park Square
Leeds
LS1 2NE

Jam Photographic Limited (Registered number: 07197181)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 49,447 53,126

CURRENT ASSETS
Stocks 1,236 1,670
Debtors 5 4,640 10,320
Cash at bank 19,393 29,417
25,269 41,407
CREDITORS
Amounts falling due within one year 6 28,955 25,900
NET CURRENT (LIABILITIES)/ASSETS (3,686 ) 15,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

45,761

68,633

CREDITORS
Amounts falling due after more than one
year

7

(20,564

)

(28,896

)

PROVISIONS FOR LIABILITIES 8 (6,299 ) (8,635 )
NET ASSETS 18,898 31,102

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 18,798 31,002
SHAREHOLDERS' FUNDS 18,898 31,102

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Jam Photographic Limited (Registered number: 07197181)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 January 2025 and were signed by:





J Hutchings - Director


Jam Photographic Limited (Registered number: 07197181)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Jam Photographic Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Jam Photographic Limited (Registered number: 07197181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 167,217 15,729 15,700 198,646
Additions 3,727 - - 3,727
At 31 March 2024 170,944 15,729 15,700 202,373
DEPRECIATION
At 1 April 2023 118,758 12,633 14,129 145,520
Charge for year 6,548 465 393 7,406
At 31 March 2024 125,306 13,098 14,522 152,926
NET BOOK VALUE
At 31 March 2024 45,638 2,631 1,178 49,447
At 31 March 2023 48,459 3,096 1,571 53,126

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,390 6,644
Loan debtor 1,250 2,532
VAT - 1,144
4,640 10,320

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loan 4,792 4,792
Tax 2,991 -
VAT 291 -
Hire purchase creditor 10,274 10,274
Director's current account 949 170
Other creditors and accruals 9,658 10,664
28,955 25,900

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan 8,015 11,302
Hire purchase creditor 12,549 17,594
20,564 28,896

Jam Photographic Limited (Registered number: 07197181)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loan represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.

The bank loan carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme.

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,299 8,635

Deferred
tax
£   
Balance at 1 April 2023 8,635
Utilised during year (2,336 )
Accelerated capital allowances
Balance at 31 March 2024 6,299

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 31,002
Profit for the year 12,796
Dividends (25,000 )
At 31 March 2024 18,798

11. RELATED PARTY DISCLOSURES

During the year dividends of £25,000 (2023:£25,000) were paid to the director.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Hutchings.