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COMPANY REGISTRATION NUMBER: 12963207
Jam Eagle & Child Limited
Filleted Unaudited Financial Statements
31 March 2024
Jam Eagle & Child Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
1,412,027
6,458,332
Investments
5
6,000,001
------------
------------
7,412,028
6,458,332
Current assets
Debtors
6
88,865
20,628
Cash at bank and in hand
858
159
--------
--------
89,723
20,787
Creditors: amounts falling due within one year
7
2,459,350
6,505,194
------------
------------
Net current liabilities
2,369,627
6,484,407
------------
------------
Total assets less current liabilities
5,042,401
( 26,075)
Creditors: amounts falling due after more than one year
8
5,060,786
------------
--------
Net liabilities
( 18,385)
( 26,075)
------------
--------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 18,485)
( 26,175)
--------
--------
Shareholders deficit
( 18,385)
( 26,075)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Jam Eagle & Child Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 23 January 2025 , and are signed on behalf of the board by:
Mr U Agarwal
Director
Company registration number: 12963207
Jam Eagle & Child Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 5 Russel House, Hornsby Way, Southfields Business Park, Laindon, Basildon, SS15 6TF, Essex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(c) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(d) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
over 100 years
Fixtures and fittings
-
20% straight line
(e) Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
(f) Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
(g) Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
4. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 April 2023
6,452,012
6,320
6,458,332
Additions
965,234
965,234
Disposals
( 6,000,000)
( 6,000,000)
------------
-------
------------
At 31 March 2024
1,417,246
6,320
1,423,566
------------
-------
------------
Depreciation
At 1 April 2023
Charge for the year
10,275
1,264
11,539
------------
-------
------------
At 31 March 2024
10,275
1,264
11,539
------------
-------
------------
Carrying amount
At 31 March 2024
1,406,971
5,056
1,412,027
------------
-------
------------
At 31 March 2023
6,452,012
6,320
6,458,332
------------
-------
------------
5. Investments
Loans to group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 April 2023
Additions
6,000,000
1
6,000,001
------------
----
------------
At 31 March 2024
6,000,000
1
6,000,001
------------
----
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
----
------------
Carrying amount
At 31 March 2024
6,000,000
1
6,000,001
------------
----
------------
At 31 March 2023
------------
----
------------
6. Debtors
2024
2023
£
£
Amounts owed by group undertakings
56,382
Prepayments and accrued income
29,222
17,497
Other debtors
3,261
3,131
--------
--------
88,865
20,628
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
15,161
Trade creditors
662
6,092
Amounts owed to group undertakings
2,000
89,848
Accruals and deferred income
1,567
5,717
Director loan accounts
729,532
Amounts due to related undertakings
2,439,960
5,674,005
------------
------------
2,459,350
6,505,194
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,060,786
------------
----
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Related party transactions
The related undertakings amounted to £2,439,960 at the year end (2023 - (5,674,005) The loan finance is interest free and repayable on demand.
11. Controlling party
The company is a wholly owned subsidiary of Jam Real Estate Limited, a company registered in England & Wales.