JAMCO (JMC) LTD Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC245681

JAMCO (JMC) LTD

Filleted Unaudited Financial Statements

31 March 2025

JAMCO (JMC) LTD

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		272,098	273,705

Current assets

Stocks		7,260	5,600
Debtors	7	4,702	43,282
Cash at bank and in hand		153,649	98,057
		ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄÄ
		165,611	146,939

Creditors: amounts falling due within one year	8	298,452		281,573
		ÄÄÄÄÄÄÄÄÄ		ÄÄÄÄÄÄÄÄÄ
Net current liabilities			132,841	134,634
			ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄÄ
Total assets less current liabilities			139,257	139,071

Creditors: amounts falling due after more than one year	9		6,410	32,246

Provisions

Taxation including deferred tax	13,407	13,407
	ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄÄ
Net assets	119,440	93,418
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍÍ

Capital and reserves

Called up share capital	100	100
Profit and loss account	119,340	93,318
	ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ
Shareholders funds	119,440	93,418
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

JAMCO (JMC) LTD

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 24 December 2025 , and are signed on behalf of the board by:

Mr John Martin Clark
Director

Company registration number: SC245681

JAMCO (JMC) LTD

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is Westview Bungalow, Main Street, Garmond, Turriff, Aberdeenshire, AB53 5TQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is derived from over the counter sales and also invoiced sales when business customers request credit accounts for events and activities.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

		-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

		-	4% straight line
		-	20% reducing balance
		-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4.Employee numbers

The average number of persons employed by the company during the year amounted to 11 (2024: 8 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 April 2024 and 31 March 2025	50,000
	ÍÍÍÍÍÍÍÍ
Amortisation
At 1 April 2024 and 31 March 2025	50,000
	ÍÍÍÍÍÍÍÍ
Carrying amount
At 31 March 2025	–
	ÍÍÍÍÍÍÍÍ
At 31 March 2024	–
	ÍÍÍÍÍÍÍÍ

6. Tangible assets

	Land and buildings	Plant and machinery	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	320,743	24,190	24,006	368,939
Additions	–	–	2,767	2,767
	ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄÄ
At 31 March 2025	320,743	24,190	26,773	371,706
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍÍ
Depreciation
At 1 April 2024	51,769	24,190	19,275	95,234
Charge for the year	2,500	–	1,874	4,374
	ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄÄ
At 31 March 2025	54,269	24,190	21,149	99,608
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍÍ
Carrying amount
At 31 March 2025	266,474	–	5,624	272,098
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍÍ
At 31 March 2024	268,974	–	4,731	273,705
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍÍ

7. Debtors

	2025	2024
	£	£
Trade debtors	810	43,282
Other debtors	3,892	–
	ÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ
	4,702	43,282
	ÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	26,305	18,327
Social security and other taxes	–	1,400
Other creditors	272,147	261,846
	ÄÄÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄÄ
	298,452	281,573
	ÍÍÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍÍ

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Corporation tax	6,410	16,246
Other creditors	–	16,000
	ÄÄÄÄÄÄÄ	ÄÄÄÄÄÄÄÄ
	6,410	32,246
	ÍÍÍÍÍÍÍ	ÍÍÍÍÍÍÍÍ

10. Related party transactions

The company was under the control of Mr & Mrs J Clark throughout the current and previous year. Mr & Mrs Clark are the directors and majority shareholders of the company.

11. Other spare note 99 heading