Registered number
08595192
Jamscones Ltd
Filleted Accounts
31 July 2024
Jamscones Ltd
Registered number: 08595192
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 273 406
Current assets
Debtors 4 182 1,254
Cash at bank and in hand 639 798
821 2,052
Creditors: amounts falling due within one year 5 (6,386) (2,510)
Net current liabilities (5,565) (458)
Total assets less current liabilities (5,292) (52)
Creditors: amounts falling due after more than one year 6 (2,123) (4,626)
Net liabilities (7,415) (4,678)
Capital and reserves
Called up share capital 100 100
Profit and loss account (7,515) (4,778)
Shareholder's funds (7,415) (4,678)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
S Norman
Director
Approved by the board on 28 February 2025
Jamscones Ltd
Notes to the Accounts
for the year ended 31 July 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 rendering of services. 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.
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:
Plant and machinery over 5 years
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 3,830
At 31 July 2024 3,830
Depreciation
At 1 August 2023 3,424
Charge for the year 133
At 31 July 2024 3,557
Net book value
At 31 July 2024 273
At 31 July 2023 406
4 Debtors 2024 2023
£ £
Trade debtors 182 132
Other debtors - 1,122
182 1,254
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,503 2,450
Trade creditors - 38
Taxation and social security costs - 22
Other creditors 3,883 -
6,386 2,510
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,123 4,626
7 Going concern
The accounts have been prepared on a going concern basis. The director has confirmed that he will continue to provide financial support to the company until such time as it's position improves.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S Norman
Director loan account 1,122 36 (5,041) (3,883)
1,122 36 (5,041) (3,883)
9 Related party transactions
Included within other creditors is amount of £3,883 owed to the Director. (2023 - other debtors £1,122) This amount is undated, unsecured and repayable upon demand.
# Controlling party
The controlling party is Mr S Norman, as the director & the shareholder
# Other information
Jamscones Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
Jamscones Ltd 08595192 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts July 2024 S Norman No description of principal activity 08595192 2022-08-01 2023-07-31 08595192 core:WithinOneYear 2023-07-31 08595192 core:AfterOneYear 2023-07-31 08595192 core:ShareCapital 2023-07-31 08595192 core:RetainedEarningsAccumulatedLosses 2023-07-31 08595192 2023-08-01 2024-07-31 08595192 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08595192 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08595192 bus:Director40 2023-08-01 2024-07-31 08595192 1 2023-08-01 2024-07-31 08595192 2 2023-08-01 2024-07-31 08595192 core:PlantMachinery 2023-08-01 2024-07-31 08595192 bus:Director1 2023-08-01 2024-07-31 08595192 bus:Director1 1 2023-08-01 2024-07-31 08595192 countries:England 2023-08-01 2024-07-31 08595192 bus:FRS102 2023-08-01 2024-07-31 08595192 bus:FilletedAccounts 2023-08-01 2024-07-31 08595192 2024-07-31 08595192 core:WithinOneYear 2024-07-31 08595192 core:AfterOneYear 2024-07-31 08595192 core:ShareCapital 2024-07-31 08595192 core:RetainedEarningsAccumulatedLosses 2024-07-31 08595192 core:PlantMachinery 2024-07-31 08595192 bus:Director1 1 2024-07-31 08595192 2023-07-31 08595192 core:PlantMachinery 2023-07-31 08595192 bus:Director1 1 2023-07-31 iso4217:GBP xbrli:pure