Registration number:
Jammar Limited
for the
Year Ended 30 April 2024
Jammar Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Jammar Limited
Company Information
Directors |
J Abraham M Abraham |
Company secretary |
J Abraham |
Registered office |
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Accountants |
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Jammar Limited
(Registration number: 05053117)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
1 |
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Retained earnings |
1,401 |
12,437 |
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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:
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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
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Jammar Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
Coach Garage
The Homend
Ledbury
Herefordshire
HR8 1BA
These financial statements were authorised for issue by the
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)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2023 |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
- |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
- |
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At 30 April 2023 |
- |
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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)
Stocks |
2024 |
2023 |
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Other inventories |
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Debtors |
2024 |
2023 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Jammar Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
(continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
- |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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 |
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Bank borrowings |
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Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Bank overdrafts |
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Bank borrowings
Secured over the assets of the company and a personal guarantee from the directors |
Related party transactions |
Summary of transactions with other related parties
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.