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JAG MEDIA SERVICES LIMITED

Registered Number
09782635
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

JAG MEDIA SERVICES LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

GEORGE, Gillian

Registered Address

20 Harwood Drive
Houghton-Le-Spring
DH4 5NY

Registered Number

09782635 (England and Wales)
JAG MEDIA SERVICES LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets375,440107,545
75,440107,545
Current assets
Debtors19,3059,107
Cash at bank and on hand10,19525,178
29,50034,285
Creditors amounts falling due within one year4(95,776)(117,351)
Net current assets (liabilities)(66,276)(83,066)
Total assets less current liabilities9,16424,479
Creditors amounts falling due after one year5(2,793)(6,486)
Net assets6,37117,993
Capital and reserves
Called up share capital11
Profit and loss account6,37017,992
Shareholders' funds6,37117,993
The financial statements were approved and authorised for issue by the Director on 1 May 2025, and are signed on its behalf by:
GEORGE, Gillian
Director
Registered Company No. 09782635
JAG MEDIA SERVICES LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Vehicles-5
Office Equipment15-
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 October 2320,698198,773219,471
Additions-416416
Disposals-(36,938)(36,938)
At 30 September 2420,698162,251182,949
Depreciation and impairment
At 01 October 2320,69891,228111,926
Charge for year-32,52132,521
On disposals-(36,938)(36,938)
At 30 September 2420,69886,811107,509
Net book value
At 30 September 24-75,44075,440
At 30 September 23-107,545107,545
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts3,7003,700
Taxation and social security5,4975,348
Other creditors83,534102,559
Accrued liabilities and deferred income3,0455,744
Total95,776117,351
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.
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,7936,486
Total2,7936,486
The bank loan was taken out in June 2020 under the Coronavirus Bounce Back Loan Scheme and is repayable by instalments over 6 years with interest at 2.5% above base rate.
6.Related party transactions
The company was under the control of Mrs G George throughout the current and preceding period. Mrs George is the sole shareholder. During the year the director had a loan account with the company. At the balance sheet date the company owed the director £83,476 (2023: £102,559). This loan is interest free and has no repayment terms.