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REGISTERED NUMBER: SC499700 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

JAM Events Scotland Limited

JAM Events Scotland Limited (Registered number: SC499700)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JAM Events Scotland Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Kyle
Ms M R Kyle





REGISTERED OFFICE: 27 Barony Road
Auchinleck
Ayrshire
KA18 2LL





REGISTERED NUMBER: SC499700 (Scotland)





ACCOUNTANTS: WR Accountants
Bank Chambers
31 The Square
Cumnock
Ayrshire
KA18 1AT

JAM Events Scotland Limited (Registered number: SC499700)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 131,404 104,836
131,404 104,836

CURRENT ASSETS
Stocks 20,000 18,629
Debtors 6 91,150 152,585
Cash at bank and in hand 748,023 475,504
859,173 646,718
CREDITORS
Amounts falling due within one year 7 513,796 433,502
NET CURRENT ASSETS 345,377 213,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,781

318,052

PROVISIONS FOR LIABILITIES 26,716 26,100
NET ASSETS 450,065 291,952

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 450,055 291,942
SHAREHOLDERS' FUNDS 450,065 291,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JAM Events Scotland Limited (Registered number: SC499700)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 January 2025 and were signed on its behalf by:





A Kyle - Director


JAM Events Scotland Limited (Registered number: SC499700)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

JAM Events Scotland Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 April 2022.

Turnover
Turnover represents income from the hire of plant excluding value added tax.

Turnover from services provided by the company is recognised when the company has performed its obligations and in exchange obtained the right to consideration.

Deposits received in advance of the provision of services are treated as liabilities.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of nil years.

Intangible fixed assets
Amortisation is provided at the following rates in order to write off each asset over its estimated useful life.

Website33 1/3% straight line p.a.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery33 1/3% straight line p.a.


Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


JAM Events Scotland Limited (Registered number: SC499700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 5,960
AMORTISATION
At 1 April 2023
and 31 March 2024 5,960
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

JAM Events Scotland Limited (Registered number: SC499700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 239,915
Additions 58,851
At 31 March 2024 298,766
DEPRECIATION
At 1 April 2023 135,079
Charge for year 32,283
At 31 March 2024 167,362
NET BOOK VALUE
At 31 March 2024 131,404
At 31 March 2023 104,836

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 87,324 140,576
Other debtors 3,826 12,009
91,150 152,585

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 32,362 26,480
Amounts owed to group undertakings 55,793 27,407
Taxation and social security 120,850 131,138
Other creditors 304,791 248,477
513,796 433,502

JAM Events Scotland Limited (Registered number: SC499700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Transactions with Directors are as follows:


Mr A Kyle31.3.2431.3.23
£ £
Due to director at 1 April 20233,7823,512
Dividend receivable7,000-
Other amounts advanced 480470
Amounts drawn (6,212)(200)
Due to director at 31 March 20245,0503,782

Ms M Kyle31.3.2431.3.23
£ £
Due (by)/to director at 1 April 2023(8,184)1,206
Dividend receivable7,000-
Other amounts advanced 9,692470
Amounts drawn (8,508)(9,860)
Due to director at 31 March 20240(8,184)

9. ULTIMATE CONTROLLING PARTY

The controlling party is A Kyle.

The ultimate controlling party is A Kyle.

JAM Events Scotland Limited (Registered number: SC499700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. FIRST YEAR ADOPTION

Jam Events Scotland ltd has prepared accounts for the year ended 31 March 2024 under the provisions of FRS 102 1a as required as a consequence of the the growth in size of the company.
In previous years accounts had been properly prepared under FRS 105.

The year of transition from FRS 105 to FRS 102 1a commenced on 1 April 2022.

In the year ended 31 March 2023 the effect of the transition to FRS 102 was to require Jam Events Scotland Ltd to recognise a provision for Deferred Tax of £26,100 as follows:

Deferred Tax provision 31.3.23
£
Due in respect of periods to 31 March 2022 18,500
Due in respect of the year ended 31 March 2023 7,600
Provision required at 31 March 2023 26,100

In consequence the following re statements have been made to reflect the requirements of FRS 102 1a to the accounts of Jam Events Scotland Ltd for the year ended 31 March 2023

PROFIT AND LOSS FRS 105 adjustment FRS 102 1a
31.3.23 31.3.23 31.3.23
£ £ £
OPERATING PROFIT AND PROFIT BEFORE
TAXATION

306,362

-

306,362

Tax on profit 49,121 7,600 56,721
PROFIT FOR THE FINANCIAL YEAR 257,241 7,600 249,641

RETAINED PROFIT AT START OF YEAR 60,801 18,500 42,301

PROFIT FOR THE FINANCIAL YEAR 257,241 7,600 249,641
RETAINED PROFIT AT END OF YEAR 318,042 26,100 291,942


BALANCE SHEET FRS 105 adjustment FRS 102 1a
31.3.23 31.3.23 31.3.23
£ £ £
TOTAL ASSETS LESS CURRENT LIABILITIES 318,052 - 318,052

PROVISIONS FOR LIABILITIES - 26,100 26,100
NET ASSETS 318,052 26,100 291,952

CAPITAL AND RESERVES
Called up share capital 10 - 10
Retained Earnings 318,042 26,100 291,942
SHAREHOLDERS' FUNDS 318,052 26,100 291,952



JAM Events Scotland Limited (Registered number: SC499700)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


Transitional relief
On transition to FRS 102, the company has taken advantage of the following transitional relief:

not to apply the requirements of Section 19 Business Combinations and Goodwill;
not to apply the requirements of Section 26 Share-based Payment;
to measure fair value at date of transition to FRS 102 and use as deemed cost on:
- an item of property, plant and equipment;
- an investment property;
- an intangible asset which meets the recognition criteria and criteria for revaluation in Section 18 Intangible Assets other than Goodwill;
to use a previous GAAP revaluation as deemed cost on:
- an item of property, plant and equipment;
- an investment property;
- an intangible asset which meets the recognition criteria and criteria for revaluation in Section 18 Intangible Assets other than Goodwill;
to measure investment in subsidiaries, associates and joint ventures at cost determined in accordance with Section 9 Consolidated and Separate Financial Statements, Section 14 Investments in Associates or Section 15 Investments in Joint Ventures; deemed cost;
not to apply the requirement of paragraph 22.13 in respect of compound financial instruments;
not to apply the requirements of paragraphs 34.12E to 34.16A in respect of service concession agreements;
to take elections available for extractive activities;
to determine existence of leases on basis of existing facts and circumstances;
to measure decommissioning liabilities included in cost of property, plant and equipment at date of transition to FRS 102;
to retain accounting policies for reported assets, liabilities and equity measurement at date of transition to FRS 102 for dormant companies;
to measure carrying amount of deferred development costs at date of transition to FRS 102 as deemed cost;
to treat date of transition to FRS 102 as date on which capitalisation of borrowing costs commences;
not to apply the requirements of paragraphs 20.15A to 20.25A in respect of lease incentives;
to measure assets and liabilities of subsidiaries, associates and joint ventures at the carrying amounts that would be included in the parent's consolidated financial statements; carrying amounts required by FRS 102 other than those that would be included in the parent's consolidated financial statements;
to designate previously recognised financial instruments at fair value through profit or loss provided criteria in paragraph 11.14b are met at date of transition to FRS 102.