Jaja Capital Limited is a private company limited by shares incorporated in England and Wales. The registered office is 73 Cornhill, London, United Kingdom, EC3V 3QQ.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
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 deducting all of its liabilities.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
The average monthly number of persons (including directors) employed by the company during the year was:
Included within other debtors is a balance of £250,500 (2023: £250,500 ) owed by Regent Capital Ventures Limited, a company in which the director, A Josse, has a material interest. No interest has been charged on this amount. The loan is unsecured and repayable on demand.
Also included within other debtors is a balance of £105,000 (2023: £105,000 ) owed by Catalyst Global Media Limited, a company in which the director, A Josse, has a material interest. No interest has been charged on this amount. The loan is unsecured and repayable on demand.
Also included within other debtors is a balance of £601,000 (2023: £491,000 ) owed by Catalyst Global Media Limited, a company in which the director, A Josse, has a material interest. No interest has been charged on this amount. The loan is unsecured and repayable on demand.
Also included within other debtors is a balance of £60,257 (2023: 7,919) owed by the director, A Josse. Interest has been charged on the overdrawn amounts at 2.25%, totalling £13,768 (2023: £9,419) for the year. The loan is unsecured and repayable on demand.
Included within other creditors is a balance of £1,855,500 (2023: £1,745,500) owed to Regent Capital Holdings Limited, a company in which the director, A Josse, has a material interest. No interest has been charged on this amount. The loan is unsecured and repayable on demand.
Also included within other creditors is a balance of £240,000 (2023: £240,000) owed by Regent Capital Ventures Limited, a company in which the director, A Josse, has a material interest. No interest has been charged on this amount. The loan is unsecured and repayable on demand.
Also included within other creditors is a balance of £357,000 (2023: £150,000) owed by Prism Administration Limited, a company in which the director, A Josse, has a material interest. No interest has been charged on this amount. The loan is unsecured and repayable on demand.