Registration number: NI682953

JAQ Fulfilment Ltd

(Registration number: NI682953)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Intangible assets	4	14,008	-
Tangible assets	5	12,880	7,522
		26,888	7,522
Current assets
Debtors	6	435,741	67,991
Cash at bank and in hand		67,039	58,374
		502,780	126,365
Creditors: due within one year	7	(697,806)	(239,685)
Net current liabilities		(195,026)	(113,320)
Net liabilities		(168,138)	(105,798)
Capital and reserves
Called up share capital	8	100	100
Retained earnings		(168,238)	(105,898)
Shareholders' deficit		(168,138)	(105,798)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 December 2025 and signed on its behalf by:
 

......................................... Mr Connor Martin Director

......................................... Mr Seamus O'Connor Director

JAQ Fulfilment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 13 Craigstown Road, Randalstown, Antrim, BT41 2PT.

These financial statements were authorised for issue by the Board on 30 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

This is the second full trading year of the company and it has experienced rapid growth over the past year. This growth has created some difficulties which necessitated investment in people and processes, resulting in a reported loss for the year. The directors believe that with the knowledge they have gained over the past few years and with the scale in turnover, profitability should soon follow. The company has been financed through loans from an associated company which has provided reassurance that this funding will continue to be made available, so long as profitability is achievable over the short-to-medium term. The accounts have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

JAQ Fulfilment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

JAQ Fulfilment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 3).

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
Additions acquired separately	14,377	14,377
At 31 December 2024	14,377	14,377
Amortisation
Amortisation charge	369	369
At 31 December 2024	369	369
Carrying amount
At 31 December 2024	14,008	14,008

JAQ Fulfilment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 January 2024	-	8,850	8,850
Additions	903	6,108	7,011
At 31 December 2024	903	14,958	15,861
Depreciation
At 1 January 2024	-	1,328	1,328
Charge for the year	133	1,520	1,653
At 31 December 2024	133	2,848	2,981
Carrying amount
At 31 December 2024	770	12,110	12,880
At 31 December 2023	-	7,522	7,522

6

Debtors

	2024 £	2023 £
Trade debtors	363,141	-
Prepayments	9,658	-
Other debtors	62,942	67,991
	435,741	67,991

7

Creditors

	2024 £	2023 £
Trade creditors	55,137	227,185
Taxation and social security	14,114	-
Accruals and deferred income	5,659	1,500
Other creditors	622,896	11,000
	697,806	239,685

JAQ Fulfilment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100