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Registration number: 05053117

Jammar Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Jammar Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Jammar Limited

Company Information

Directors

J Abraham

M Abraham

Company secretary

J Abraham

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
Chartered Accountants
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Jammar Limited

(Registration number: 05053117)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

452

873

Current assets

 

Stocks

5

95,402

117,214

Debtors

6

275,246

305,378

Cash at bank and in hand

 

29

754

 

370,677

423,346

Creditors: Amounts falling due within one year

7

(358,514)

(391,616)

Net current assets

 

12,163

31,730

Total assets less current liabilities

 

12,615

32,603

Creditors: Amounts falling due after more than one year

7

(11,213)

(20,165)

Net assets

 

1,402

12,438

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

1,401

12,437

Shareholders' funds

 

1,402

12,438

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have 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.

 

Jammar Limited

(Registration number: 05053117)
Balance Sheet as at 30 April 2024
(continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
M Abraham
Director

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

The principal place of business is:
Coach Garage
The Homend
Ledbury
Herefordshire
HR8 1BA

These financial statements were authorised for issue by the Board on 29 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

2

Accounting policies (continued)

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.The financial statements show a deficit on net assets. The business has struggled during the COVID-19 pandemic which has resulted in the insolvent position. The directors expect the business to start to recover in the next 12 months and return to a solvent position. The directors confirm their intention for the company to trade for the foreseeable future and pay all debts. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantially enacted by the end of the reporting period.

Depreciation

their expected useful lives at the following rates:

Asset class

Depreciation method and rate

Leasehold improvements

10% of cost per annum

Fixtures and fittings

15% of cost per annum

Motor vehicles

25% of written down value per annum

Computer equipment

33% of cost per annum

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

2

Accounting policies (continued)

Intangible assets

Separately acquired trademarks and licences are shown at historical cost. Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date. Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit and loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

5,398

8,981

4,469

18,848

At 30 April 2024

5,398

8,981

4,469

18,848

Depreciation

At 1 May 2023

5,398

8,176

4,401

17,975

Charge for the year

-

404

17

421

At 30 April 2024

5,398

8,580

4,418

18,396

Carrying amount

At 30 April 2024

-

401

51

452

At 30 April 2023

-

805

68

873

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

5

Stocks

2024
£

2023
£

Other inventories

95,402

117,214

6

Debtors

2024
£

2023
£

Trade debtors

12,255

20,009

Prepayments

3,273

3,170

Other debtors

259,718

282,199

275,246

305,378

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

217,906

200,047

Trade creditors

 

38,800

96,421

Taxation and social security

 

62,414

63,654

Accruals and deferred income

 

39,394

30,996

Other creditors

 

-

498

 

358,514

391,616

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

11,213

20,165

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Non-current loans and borrowings

 

Jammar Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)

9

Loans and borrowings (continued)

2024
£

2023
£

Bank borrowings

11,213

20,165

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,620

10,668

Bank overdrafts

208,286

189,379

217,906

200,047

Bank borrowings

Bank overdraft and loan is denominated in with a nominal interest rate of %, and the final instalment is due on . The carrying amount at year end is £229,118 (2023 - £220,212).

Secured over the assets of the company and a personal guarantee from the directors

10

Related party transactions

Summary of transactions with other related parties

Included within other debtors are the following loans:

Interest Free Loan - 1 May 2023 - £218,746 Repayments during year £22,481 30 April 2024 - £196,265

The loan is unsecured and repayable on demand.