IRIS Accounts Production v25.1.3.33 06288315 Board of Directors 1.2.24 31.1.25 31.1.25 false true false false true false Ordinary 1.00000 C Redeemable Preference 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh062883152024-01-31062883152025-01-31062883152024-02-012025-01-31062883152023-01-31062883152023-02-012024-01-31062883152024-01-3106288315ns15:EnglandWales2024-02-012025-01-3106288315ns14:PoundSterling2024-02-012025-01-3106288315ns10:Director12024-02-012025-01-3106288315ns10:PrivateLimitedCompanyLtd2024-02-012025-01-3106288315ns10:SmallEntities2024-02-012025-01-3106288315ns10:AuditExempt-NoAccountantsReport2024-02-012025-01-3106288315ns10:SmallCompaniesRegimeForDirectorsReport2024-02-012025-01-3106288315ns10:SmallCompaniesRegimeForAccounts2024-02-012025-01-3106288315ns10:FullAccounts2024-02-012025-01-3106288315ns10:OrdinaryShareClass12024-02-012025-01-3106288315ns10:OrdinaryShareClass42024-02-012025-01-3106288315ns10:Director22024-02-012025-01-3106288315ns10:Director32024-02-012025-01-3106288315ns10:Director42024-02-012025-01-3106288315ns10:Director52024-02-012025-01-3106288315ns10:Director62024-02-012025-01-3106288315ns10:CompanySecretary12024-02-012025-01-3106288315ns10:RegisteredOffice2024-02-012025-01-3106288315ns5:CurrentFinancialInstruments2025-01-3106288315ns5:CurrentFinancialInstruments2024-01-3106288315ns5:Non-currentFinancialInstruments2025-01-3106288315ns5:Non-currentFinancialInstruments2024-01-3106288315ns5:ShareCapital2025-01-3106288315ns5:ShareCapital2024-01-3106288315ns5:CapitalRedemptionReserve2025-01-3106288315ns5:CapitalRedemptionReserve2024-01-3106288315ns5:RetainedEarningsAccumulatedLosses2025-01-3106288315ns5:RetainedEarningsAccumulatedLosses2024-01-3106288315ns5:PlantMachinery2024-02-012025-01-3106288315ns5:MotorVehicles2024-02-012025-01-3106288315ns5:PlantMachinery2024-01-3106288315ns5:MotorVehicles2024-01-3106288315ns5:PlantMachinery2025-01-3106288315ns5:MotorVehicles2025-01-3106288315ns5:PlantMachinery2024-01-3106288315ns5:MotorVehicles2024-01-3106288315ns5:WithinOneYearns5:CurrentFinancialInstruments2025-01-3106288315ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3106288315ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2025-01-3106288315ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-01-3106288315ns10:OrdinaryShareClass12025-01-3106288315ns10:OrdinaryShareClass42025-01-31062883151ns10:Director12024-01-31062883151ns10:Director12023-01-31062883151ns10:Director12024-02-012025-01-31062883151ns10:Director12023-02-012024-01-31062883151ns10:Director12025-01-31062883151ns10:Director12024-01-31
REGISTERED NUMBER: 06288315 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025

FOR

SJAM LIMITED

SJAM LIMITED (REGISTERED NUMBER: 06288315)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SJAM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: Mrs S Green
Joe A Green
A J Green
M J Green
Miss J R Green
James A Green





SECRETARY: Mrs S Green





REGISTERED OFFICE: 27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE





REGISTERED NUMBER: 06288315 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

SJAM LIMITED (REGISTERED NUMBER: 06288315)

BALANCE SHEET
31 JANUARY 2025

31.1.25 31.1.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 34,513 46,020

CURRENT ASSETS
Debtors 5 2,351,685 2,163,313
Cash at bank and in hand 592,392 303,853
2,944,077 2,467,166
CREDITORS
Amounts falling due within one year 6 447,334 39,009
NET CURRENT ASSETS 2,496,743 2,428,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,531,256

2,474,177

CREDITORS
Amounts falling due after more than one
year

7

777,476

713,248
NET ASSETS 1,753,780 1,760,929

CAPITAL AND RESERVES
Called up share capital 9 222,624 286,852
Capital redemption reserve 1,000,000 1,000,000
Retained earnings 531,156 474,077
SHAREHOLDERS' FUNDS 1,753,780 1,760,929

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

SJAM LIMITED (REGISTERED NUMBER: 06288315)

BALANCE SHEET - continued
31 JANUARY 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





A J Green - Director


SJAM LIMITED (REGISTERED NUMBER: 06288315)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

SJAM Limited is a private company, limited by shares , registered in England and Wales. 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.

The directors believe that the company is well placed to manage its financial risks successfully and have reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future. Consequently, it continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Revenue represents finance charges derived from finance leases and instalment credit agreements, fees and commissions receivable. The finance charges are recognised on a time proportion basis that takes into account the interest rate implicit in the agreement.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and Straight line over 3 years
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

SJAM LIMITED (REGISTERED NUMBER: 06288315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

2. ACCOUNTING POLICIES - continued

Finance leases and instalment credit agreements
The net investment in finance leases and instalment credit agreements represents the future lease rentals and instalments receivable less profit and costs allocated to future periods. Income is recognised throughout the life of the deal to provide a constant rate of return on the net cash investment in each lease or instalment credit agreement. This income recognition policy has been selected due to it matching the total gross earnings to each accounting period during the term of the lease or instalment credit agreement so that earnings are matched with the associated expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 February 2024
and 31 January 2025 25,516 61,428 86,944
DEPRECIATION
At 1 February 2024 20,504 20,420 40,924
Charge for year 1,255 10,252 11,507
At 31 January 2025 21,759 30,672 52,431
NET BOOK VALUE
At 31 January 2025 3,757 30,756 34,513
At 31 January 2024 5,012 41,008 46,020

5. DEBTORS
31.1.25 31.1.24
£    £   
Amounts falling due within one year:
Trade debtors - 1,675
Finance lease and hire
purchase receivables 1,175,761 965,030
Other debtors 16,128 12,727
1,191,889 979,432

Amounts falling due after more than one year:
Finance lease and hire
purchase receivables 1,159,796 1,183,881
1,159,796 1,183,881

Aggregate amounts 2,351,685 2,163,313

SJAM LIMITED (REGISTERED NUMBER: 06288315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Trade creditors 401,694 65
Taxation and social security 29,308 17,650
Other creditors 16,332 21,294
447,334 39,009

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.25 31.1.24
£    £   
Other creditors 777,476 713,248

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Preference shares - 713,248

8. LOANS

Allotted, issued and fully paid31.1.2531.1.24
££

1,000,000 2% redeemable cumulative preference shares of £1 each777,476713,248
As at 31 January 2025777,476713,248
The 2% redeemable cumulative preference shares are classified as compound financial instruments, which have the characteristics of both debt and equity and may be redeemed any time after the first anniversary of the date of allotment or in any event on 31 January 2030 at par.

The debt element is the net present value of the liability relating to the future dividend stream and redemption and has been calculated using an equivalent rate of 7.5%, being the directors estimate of the cost of capital.

DebtEquity
ElementElementTotal

2% redeemable cumulative preference shares777,476222,5241,000,000
As at 31 January 2025777,476222,5241,000,000


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
100 Ordinary £1 100 100
1,000,000 C Redeemable Preference £1 222,524 286,752
222,624 286,852

SJAM LIMITED (REGISTERED NUMBER: 06288315)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25 31.1.24
£    £   
A J Green
Balance outstanding at start of year - 516
Amounts advanced 5,954 585
Amounts repaid (5,954 ) (1,101 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Interest was charged on the overdrawn directors loan account balances in excess of £10,000 at 2.25%.