Jaymar Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09537164 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2022

for

Jaymar Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J T McGill

A Rao

REGISTERED OFFICE:

5 Christchurch Road

Clifton

Bristol

BS8 4EF

REGISTERED NUMBER:

09537164 (England and Wales)

ACCOUNTANTS:

Verinder Powell Associates Ltd

Suite 5 Corum 2

Corum Office Park

Crown Way

Warmley

Bristol

BS30 8FJ

FIXED ASSETS

Intangible assets

4

152,000

190,000

Tangible assets

5

561,224

577,132

Investment property

6

834,600

780,000

1,547,824

1,547,132

CURRENT ASSETS

Stocks

13,585

19,990

Debtors

7

67,667

27,189

Cash at bank

3,254

36,115

84,506

83,294

CREDITORS

Amounts falling due within one year

8

610,838

144,261

NET CURRENT LIABILITIES

(526,332

)

(60,967

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,021,492

1,486,165

CREDITORS

Amounts falling due after more than one year

9

(929,713

)

(1,438,283

)

PROVISIONS FOR LIABILITIES

(32,058

)

(29,846

)

NET ASSETS

59,721

18,036

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

59,711

18,026

59,721

18,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 27 May 2022 and were signed on its behalf by:

J T McGill - Director

1.	STATUTORY INFORMATION

Jaymar Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Plant and machinery

-

25% on reducing balance

Government grants

Government grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads incurred in bringing inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors are satisfied that the company has adequate resources to continue to operate for the foreseeable future. They have therefore prepared the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2021

and 31 January 2022

380,000

AMORTISATION

At 1 February 2021

190,000

Charge for year

38,000

At 31 January 2022

228,000

NET BOOK VALUE

At 31 January 2022

152,000

At 31 January 2021

190,000

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST OR VALUATION

At 1 February 2021

471,174

184,427

655,601

Additions

-

1,495

1,495

Revaluations

9,523

-

9,523

At 31 January 2022

480,697

185,922

666,619

DEPRECIATION

At 1 February 2021

-

78,469

78,469

Charge for year

-

26,926

26,926

At 31 January 2022

-

105,395

105,395

NET BOOK VALUE

At 31 January 2022

480,697

80,527

561,224

At 31 January 2021

471,174

105,958

577,132

The fair value of the freehold property has been arrived at by a valuation by the directors at their open market value at 31 January 2022 based on similar properties.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2021

780,000

Revaluations

54,600

At 31 January 2022

834,600

NET BOOK VALUE

At 31 January 2022

834,600

At 31 January 2021

780,000

The fair value of the investment properties has been arrived at by a valuation by the directors at their open market value at 31 January 2022 based on similar properties.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Other debtors

67,667

27,189

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans and overdrafts

83,864

73,326

Hire purchase contracts (see note 10)

20,265

22,791

Trade creditors

31,842

31,880

Taxation and social security

4,969

1,386

Other creditors

469,898

14,878

610,838

144,261

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.22

31.1.21

£

£

Bank loans

898,685

942,032

Hire purchase contracts (see note 10)

31,028

48,767

Other creditors

-

447,484

929,713

1,438,283

Included in bank loans in notes 8 and 9 is a combined balance of £43,333 (2021 - £50,000) which is guaranteed by the government and unsecured.

10.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts

31.1.22

31.1.21

£

£

Net obligations repayable:

Within one year

20,265

22,791

Between one and five years

31,028

48,767

51,293

71,558

The hire purchase loans are secured on the assets to which they relate.

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.22

31.1.21

£

£

Bank loans

930,312

965,358

The bank loans are secured by way of fixed and floating charges in respect of the company's investment properties and all the property and undertaking of the company. The loans also contain a negative pledge.

12.	RELATED PARTY DISCLOSURES

Associated companies

The loans to associated companies are interest free and repayable on demand.

31.1.22

31.1.21

£

£

Amount due from related party at the balance sheet date

64,717

19,339

Associated companies

The loans from associated companies are interest free and repayable on demand.

31.1.22

31.1.21

£

£

Amount due to related party at the balance sheet date

466,765

447,484