JEM Logistics Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

JEM Logistics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05798981 . The registered office is Redbarn house, Roman Road, Darwen, Lancashire, BB3 3PP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% reducing balance
Fixtures & Fittings	33% reducing balance

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

Basic financial 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.

Page 3

Page 4

JEM Logistics Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2025: 4)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 May 2025	60,000

As at 30 April 2026	60,000

Amortisation
As at 1 May 2025	60,000

As at 30 April 2026	60,000

Net Book Value
As at 30 April 2026	-

As at 1 May 2025	-

Page 4

Page 5

JEM Logistics Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

5. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 May 2025	116,130	30,323	146,453
Disposals	(60,685 )	-	(60,685 )

As at 30 April 2026	55,445	30,323	85,768

Depreciation
As at 1 May 2025	74,338	27,544	101,882
Provided during the period	5,848	918	6,766
Disposals	(42,284 )	-	(42,284 )

As at 30 April 2026	37,902	28,462	66,364

Net Book Value
As at 30 April 2026	17,543	1,861	19,404

As at 1 May 2025	41,792	2,779	44,571

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	446,494	246,452
Other debtors	53,488	41,547

	499,982	287,999

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	272,685	212,416
Other creditors	182,952	210,556
Taxation and social security	23,489	19,511

	479,126	442,483

8. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

Page 5

Page 6

JEM Logistics Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

9. Other Commitments

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

	2026	2025
	£	£
Not later than one year	20,659	-
Later than one year and not later than five years	13,323	-

	33,982	-

Page 6

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		19,404		44,571

			19,404		44,571
CURRENT ASSETS
Debtors	6	499,982		287,999
Cash at bank and in hand		279,890		384,474

		779,872		672,473
Creditors: Amounts Falling Due Within One Year	7	(479,126 )		(442,483 )

NET CURRENT ASSETS (LIABILITIES)			300,746		229,990

TOTAL ASSETS LESS CURRENT LIABILITIES			320,150		274,561

PROVISIONS FOR LIABILITIES
Deferred Taxation			(4,851 )		(11,143 )

NET ASSETS			315,299		263,418

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			315,199		263,318

SHAREHOLDERS' FUNDS			315,299		263,418