Caseware UK (AP4) 2024.0.164 2024.0.164 No description of principal activityfalse2023-07-01false8164truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06939600 2023-07-01 2024-06-30 06939600 2022-07-01 2023-06-30 06939600 2024-06-30 06939600 2023-06-30 06939600 c:Director1 2023-07-01 2024-06-30 06939600 d:Buildings 2023-07-01 2024-06-30 06939600 d:PlantMachinery 2023-07-01 2024-06-30 06939600 d:PlantMachinery 2024-06-30 06939600 d:PlantMachinery 2023-06-30 06939600 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06939600 d:MotorVehicles 2023-07-01 2024-06-30 06939600 d:MotorVehicles 2024-06-30 06939600 d:MotorVehicles 2023-06-30 06939600 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06939600 d:FurnitureFittings 2023-07-01 2024-06-30 06939600 d:FurnitureFittings 2024-06-30 06939600 d:FurnitureFittings 2023-06-30 06939600 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06939600 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 06939600 d:CurrentFinancialInstruments 2024-06-30 06939600 d:CurrentFinancialInstruments 2023-06-30 06939600 d:Non-currentFinancialInstruments 2024-06-30 06939600 d:Non-currentFinancialInstruments 2023-06-30 06939600 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06939600 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06939600 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 06939600 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06939600 d:ShareCapital 2024-06-30 06939600 d:ShareCapital 2023-06-30 06939600 d:RetainedEarningsAccumulatedLosses 2024-06-30 06939600 d:RetainedEarningsAccumulatedLosses 2023-06-30 06939600 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 06939600 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 06939600 c:FRS102 2023-07-01 2024-06-30 06939600 c:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06939600 c:FullAccounts 2023-07-01 2024-06-30 06939600 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06939600 2 2023-07-01 2024-06-30 06939600 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-06-30 06939600 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-06-30 06939600 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 06939600










Jamores Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
Jamores Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Jamores Limited for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Jamores Limited for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Jamores Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Jamores Limited and state those matters that we have agreed to state to the Board of directors of Jamores Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jamores Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Jamores Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jamores Limited. You consider that Jamores Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Jamores Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Maritime Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QZ
26 March 2025
Page 1

 
Jamores Limited
Registered number: 06939600

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
147,238
212,617

  
147,238
212,617

Current assets
  

Debtors: amounts falling due within one year
 5 
1,054,439
1,692,952

Current asset investments
 6 
300,000
-

Cash at bank and in hand
  
198,558
196,804

  
1,552,997
1,889,756

Creditors: amounts falling due within one year
 7 
(536,376)
(331,125)

Net current assets
  
 
 
1,016,621
 
 
1,558,631

Total assets less current liabilities
  
1,163,859
1,771,248

Creditors: amounts falling due after more than one year
 8 
(115,794)
(199,865)

  

Net assets
  
1,048,065
1,571,383


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,047,065
1,570,383

  
1,048,065
1,571,383


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2025.



James Adebayo
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Jamores Limited is a private company limited by shares and is incorporated in England and Wales with the registration number 06939600. The address of the registered office and principal place of business is 2 Thames Innovation Centre, Studio 52, Veridion Way, Erith, DA18 4AL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
50 years straight line
Plant and machinery
-
5 years straight line
Motor vehicles
-
5 years straight line
Fixtures and fittings
-
5 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 4

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 5

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2



Staff
79
62

81
64

Page 7

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
86,313
333,130
20,152
439,595


Disposals
-
(62,530)
-
(62,530)



At 30 June 2024

86,313
270,600
20,152
377,065



Depreciation


At 1 July 2023
85,410
137,144
4,424
226,978


Charge for the year on owned assets
598
48,245
4,030
52,873


Disposals
-
(50,024)
-
(50,024)



At 30 June 2024

86,008
135,365
8,454
229,827



Net book value



At 30 June 2024
305
135,235
11,698
147,238



At 30 June 2023
903
195,986
15,728
212,617

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
127,235
183,987

Page 8

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,037,101
415,594

Amounts owed by group undertakings
-
1,206,067

Other debtors
2,172
60,892

Prepayments and accrued income
1,950
1,950

Deferred taxation
13,216
8,449

1,054,439
1,692,952



6.


Current asset investments

2024
2023
£
£

Unlisted investments
300,000
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
67,461
61,736

Trade creditors
7,433
11,054

Amounts owed to group undertakings
18,258
-

Corporation tax
355,432
162,246

Other taxation and social security
51,097
29,914

Obligations under finance lease and hire purchase contracts
16,687
42,467

Other creditors
14,968
18,878

Accruals and deferred income
5,040
4,830

536,376
331,125



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
42,204
109,665

Net obligations under finance leases and hire purchase contracts
73,590
90,200

115,794
199,865


Page 9

 
Jamores Limited
 

 
Notes to the financial statements
For the year ended 30 June 2024

9.


Deferred taxation




2024


£






At beginning of year
8,449


Charged to profit or loss
4,767



At end of year
13,216

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances
13,216
8,449


10.


Contingent liabilities

The company is party to a composite cross guarantee fixed charge and negative pledge given to Lloyds Bank Plc, covering the bank loan of the companies within the Quortune Limited group of companies. The potential liability at the balance sheet date was £979,012 (2023: £1,100,817).
The company also has a debenture given to Lloyds Bank Plc, secured by fixed and floating charge, and negative pledge over all of the assets and undertakings of the company. 


11.


Related party transactions

The company has taken advantage of the exemptions available under FRS102, section 33.5, not to
disclose details of its transactions with members of the group headed by Quortune Limited.
All other transactions with related parties that arose during the current and prior years, including any directors' remuneration payable, were done so under normal market conditions. 


12.


Controlling party

The ultimate parent undertaking of the company is Quortune Limited, a company incorporated in England and Wales, where the ultimate controlling party is J Adebayo and E Ajakaye by virtue of shareholding. 


Page 10