JEM HR LTD - Accounts

JEM HR LTD
Director's Report
For the year ended 31 October 2025

Director's report and financial statements

The director presents his/her/their annual report and the financial statements for the year ended 31 October 2025.

Principal activities

The company acts as the holding company of the Jem Group. Its principal activities include the ownership, development, and maintenance of the groups technology platform and related intellectual property, as well as the provision of strategic, financial, and administrative support to its subsidiaries.

Statement of director's responsibilities

The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to :

select suitable accounting policies and then apply them consistently
make judgements and accounting estimates that are reasonable and prudent
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.

----------------------------------
Simon Ellis
Director

Date approved: 31 July 2026

JEM HR LTD Accountants' Report For the year ended 31 October 2025
Accountant’s report You consider that the company is exempt from an audit for the year ended 31 October 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Evan Anderson 31 October 2025 .................................................... Evan Anderson 31 July 2026 3

JEM HR LTD
Accountants' Report
For the year ended 31 October 2025

Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Evan Anderson
31 October 2025

....................................................
Evan Anderson

31 July 2026

JEM HR LTD
Statement of Financial Position
As at 31 October 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	702	1,263
Investments	4	1,766,928	743,913
		1,767,630	745,176
Current assets
Debtors	5	192,043	9,194
Cash at bank and in hand		951,400	13,734
		1,143,443	22,928
Creditors: amount falling due within one year	6	(428,934)	(34,143)
Net current assets		714,509	(11,215)

Total assets less current liabilities		2,482,139	733,961
Creditors: amount falling due after more than one year	7	0	(1,126,317)
Net assets		2,482,139	(392,356)

Capital and reserves
Called up share capital	8	348	130
Share Premium Account	9	3,068,015	15,584
Profit and loss account		(586,224)	(408,070)
Shareholders' funds		2,482,139	(392,356)

For the year ended 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The financial statements were approved by the director on 31 July 2026 and were signed by:

-------------------------------
Simon Ellis
Director

JEM HR LTD
Statement of Changes in Equity
For the year ended 31 October 2025

	Equity share capital	Equity share premium	Retained Earnings	Total
	£	£	£	£
At 01 November 2023	100		(115,825)	(115,725)
Profit/(Loss) for the year			(292,245)	(292,245)
Total comprehensive income for the year	-	-	(292,245)	(292,245)
Shares issued	30			30
Share Premium - new issue		15,584		15,584
Total investments by and distributions to owners	30	15,584	-	15,614
At 31 October 2024	130	15,584	(408,070)	(392,356)
At 01 November 2024			(406,325)	(406,325)
Profit/(Loss) for the year			(179,899)	(179,899)
Total comprehensive income for the year	-	-	(179,899)	(179,899)
Shares issued	348			348
Share Premium - new issue		3,068,015		3,068,015
Total investments by and distributions to owners	348	3,068,015	-	3,068,363
At 31 October 2025	348	3,068,015	(586,224)	2,482,139

JEM HR LTD
Notes to the Financial Statements
For the year ended 31 October 2025

General Information

JEM HR LTD is a private company, limited by shares, registered in England and Wales, registration number 14437567, registration address 82a James Carter Road, Mildenhall, Bury St. Edmunds, Suffolk, England, IP28 7DE.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

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

Group accounts

The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.

Going concern basis

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company receives funding and support from its shareholders and group entities as required. Accordingly, the financial statements have been prepared on a going concern basis.

Turnover

The company owns intellectual property which it licenses to its wholly owned subsidiary, Jem RSA OpCo (Pty) Ltd. Licence fee income is recognised as revenue in the period to which it relates, in accordance with the terms of the licence agreement. The licence fees arise from transactions with a related party.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

3 Straight Line

Fixed asset investments

Investments in subsidiary undertakings are stated at cost less any provision for impairment.

Financial instruments

The company applies the provisions of Sections 11 and 12 of FRS 102 in accounting for its financial instruments.
The companys financial instruments comprise cash and bank balances, intercompany receivables and payables, and other short-term financial assets and liabilities.
Such instruments are recognised when the company becomes a party to the contractual provisions of the instrument and are measured at amortised cost. The company does not hold or issue any complex financial instruments and does not engage in trading or speculative transactions.

2.	Average number of employees Average number of employees during the year was 2 (2024 : 0).

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 November 2024	1,684	1,684
Additions	-	-
Disposals	-	-
At 31 October 2025	1,684	1,684
Depreciation
At 01 November 2024	421	421
Charge for year	561	561
On disposals	-	-
At 31 October 2025	982	982
Net book values
Closing balance as at 31 October 2025	702	702
Opening balance as at 01 November 2024	1,263	1,263

Investments

Cost	Other investments other than loans	Loans to participating interests	Total
	£	£	£
At 01 November 2024	94	745,563	745,657
Additions	-	1,021,271	1,021,271
Disposals	-	-	-
At 31 October 2025	94	1,766,834	1,766,928

Debtors: amounts falling due within one year

	2025 £	2024 £
Trade Debtors	6,453	2,871
Prepayments & Accrued Income	13,486	5,825
Other Debtors	340	498
	20,279	9,194

Debtors: amounts falling due after one year

	2025 £		2024 £
Other Debtors	171,764		0
	171,764		0

Creditors: amount falling due within one year

	2025 £	2024 £
Trade Creditors	28,650	8,481
Other Loans & Overdrafts	142,225	0
PAYE & Social Security	814	0
Accrued Expenses	2,569	22,612
Other Creditors	241,500	3,050
Wages & Salaries Control Account	13,176	0
	428,934	34,143

Creditors: amount falling due after more than one year

	2025 £		2024 £
Other Loans & Overdrafts	0		5,339
Other Creditors	0		1,120,978
	0		1,126,317

Share Capital

Allotted, called up and fully paid	2025 £		2024 £
1,299,025 Ordinary shares of £0.0001 each	130		130
	130		130

Share Premium Account

	2025 £		2024 £
Equity Share Premium - New Issue	3,068,015		15,584
	3,068,015		15,584

10.

Related parties

During the year the company entered into the following transactions with related parties:

	Transaction value - income/(expenses)		Balance owed by/(owed to)
	2025 £	2024 £	2025 £	2024 £
Jem OpCo RSA (Pty) Ltd	0	0	1,754,089	728,709
Jem RSA DevCo (Pty) Ltd	0	0	0	0
SmartWage (Pty) Ltd	0	0	12,745	16,854
Ellis Ventures Ltd & Simon Ellis	0	0	(138,937)	(53,665)

The amount outstanding from Jem RSA OpCo (Pty) Ltd, a company in which Jem HR Ltd is a shareholder, is in respect of a loan provided in the current year. Interest was charged at 3.5% per annum on the loan during the year.

During the year, Jem HR Ltd incurred certain administrative expenses on behalf of SmartWage (Pty) Ltd.
Simon Ellis and Ellis Ventures Ltd are related parties of the Company. Ellis Ventures Ltd is a shareholder of the Company and is wholly controlled by Simon Ellis.

Registered Number: 14437567
England and Wales
JEM HR LTD

Unaudited Financial Statements

Period of accounts Start date: 01 November 2024 End date: 31 October 2025