JAM 300 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05104139

JAM 300 Limited

Filleted Abridged Financial Statements

30 April 2025

JAM 300 Limited

Abridged Statement of Financial Position

30 April 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	133,733	197,858

Current assets

Stocks	744,372	821,262
Debtors	292,195	315,151
Cash at bank and in hand	234,300	330,153
	-----------	-----------
	1,270,867	1,466,566

Creditors: amounts falling due within one year	1,105,478	1,291,914
	-----------	-----------
Net current assets	165,389	174,652
	---------	---------
Total assets less current liabilities	299,122	372,510

Creditors: amounts falling due after more than one year	244,053	269,830

Provisions	4,832	4,832
	---------	---------
Net assets	50,237	97,848
	---------	---------

Capital and reserves

Called up share capital	6	132,000	132,000
Profit and loss account		( 81,763)	( 34,152)
		---------	---------
Shareholders funds		50,237	97,848
		---------	---------

These abridged 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 abridged statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 April 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 1 September 2025 , and are signed on behalf of the board by:

Mr J Wordsworth

Director

Company registration number: 05104139

JAM 300 Limited

Notes to the Abridged Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 48 Granville Square, Suffolk Road, Sheffield, S2 4AL.

2. Statement of compliance

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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.

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:

Plant and machinery	-	20-50% straight line
Fixtures and fittings	-	10-50% straight line
Motor vehicles	-	10-100% straight line
Equipment	-	20-50% straight line

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.

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. Vehicle stocks are valued at cost, less any write downs deemed appropriate by the directors, in order for the stock to be included at the lower of cost and estimated net realisable value. The directors make judgemental write downs based on their knowledge and experience of the motor trade and current market conditions.

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 abridged 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 22 (2024: 23 ).

5. Tangible assets

	£
Cost
At 1 May 2024	623,358
Additions	8,230
	---------
At 30 April 2025	631,588
	---------
Depreciation
At 1 May 2024	425,500
Charge for the year	72,355
	---------
At 30 April 2025	497,855
	---------
Carrying amount
At 30 April 2025	133,733
	---------
At 30 April 2024	197,858
	---------

6. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	132,000	132,000	132,000	132,000
	---------	---------	---------	---------

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Later than 1 year and not later than 5 years	217,260	325,890
	---------	---------

8. Charges on assets

The bank holds a fixed and floating charge over the assets of the company. The other loan of £550,000 (2024 - £550,000) also has a fixed and and floating charge over the assets of the company.

9. Summary audit opinion

The auditor's report dated 1 September 2025 was unqualified .

The senior statutory auditor was Stephen Allen , for and on behalf of Allen, West and Foster Limited .

10. Directors' advances, credits and guarantees

At the year end £ 241,813 (2024 - £258,928) is owed to the directors and is shown in creditors due after more than one year as there is no intention to withdraw the money from the Company.

11. Controlling party

The controlling party of the company is the Board of Directors.