Registered number
07682694
Jember Limited
Report and Accounts
30 June 2024
Jember Limited
Registered number: 07682694
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 339,028 375,876
Current assets
Debtors 4 1,004 1,028
Cash at bank and in hand 3,799 646
4,803 1,674
Creditors: amounts falling due within one year 5 (1,560,581) (1,409,519)
Net current liabilities (1,555,778) (1,407,845)
Total assets less current liabilities (1,216,750) (1,031,969)
Creditors: amounts falling due after more than one year 6 (689,204) (729,893)
Net liabilities (1,905,954) (1,761,862)
Capital and reserves
Called up share capital 2 2
Profit and loss account (1,905,956) (1,761,864)
Shareholders' funds (1,905,954) (1,761,862)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Y Levene
Director
Approved by the board on 19 March 2025
Jember Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Going concern
The accounts have been prepared on a going concern basis even though the Balance Sheet shows the company to be technically insolvent. The company is meeting its day to day working capital requirements through a third party loan and through loans from its Directors. The Directors have indicated that they are committed to providing additional financial support as necessary and will not seek repayment of their loans until sufficient funds are available, so as not to jeopardise the going concern status of the company or prejudice the interests of creditors. For this reason, the Directors consider it appropriate to prepare the financial statements on a going concern basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 5% straight line
Plant and machinery 20% reducing balance
Computer equipment 25% reducing balance
Fixtures, fittings & equipment 20% reducing balance
Motor vehicles 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 3
3 Tangible fixed assets
Land and buildings Plant and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 654,167 45,350 59,513 759,030
At 30 June 2024 654,167 45,350 59,513 759,030
Depreciation
At 1 July 2023 299,309 36,652 47,193 383,154
Charge for the year 32,708 1,676 2,464 36,848
At 30 June 2024 332,017 38,328 49,657 420,002
Net book value
At 30 June 2024 322,150 7,022 9,856 339,028
At 30 June 2023 354,858 8,698 12,320 375,876
4 Debtors 2024 2023
£ £
Trade debtors 1,004 -
Other debtors - 1,028
1,004 1,028
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 98,963 66,181
Taxation and social security costs 880 114
Other creditors 1,460,738 1,343,224
1,560,581 1,409,519
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 498,464 539,153
Other creditors 190,740 190,740
689,204 729,893
7 Other information
Jember Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Goldington Road
Bedford
MK40 3JY
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