ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2021.0.152 2021.0.152 2022-04-302022-04-302021-05-01false11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10265999 2021-05-01 2022-04-30 10265999 2020-05-01 2021-04-30 10265999 2022-04-30 10265999 2021-04-30 10265999 c:Director1 2021-05-01 2022-04-30 10265999 d:OfficeEquipment 2021-05-01 2022-04-30 10265999 d:OfficeEquipment 2022-04-30 10265999 d:OfficeEquipment 2021-04-30 10265999 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 10265999 d:CurrentFinancialInstruments 2022-04-30 10265999 d:CurrentFinancialInstruments 2021-04-30 10265999 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 10265999 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 10265999 d:ShareCapital 2022-04-30 10265999 d:ShareCapital 2021-04-30 10265999 d:RetainedEarningsAccumulatedLosses 2022-04-30 10265999 d:RetainedEarningsAccumulatedLosses 2021-04-30 10265999 c:OrdinaryShareClass1 2021-05-01 2022-04-30 10265999 c:OrdinaryShareClass1 2022-04-30 10265999 c:FRS102 2021-05-01 2022-04-30 10265999 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 10265999 c:FullAccounts 2021-05-01 2022-04-30 10265999 c:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 10265999 2 2021-05-01 2022-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10265999

HAT JAM LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2022

HAT JAM LIMITED

REGISTERED NUMBER: 10265999

BALANCE SHEET

AS AT 30 APRIL 2022

		2022		2021
Note		£		£

Fixed assets
Tangible fixed assets			2,788		1,077
Current assets
Debtors: amounts falling due within one year	5	-		5,704
Cash at bank and in hand		246,640		137,877
		246,640		143,581
Creditors: amounts falling due within one year	6	(61,398)		(26,315)
Net current assets			185,242		117,266
Total assets less current liabilities			188,030		118,343
Provisions for liabilities
Deferred tax		(697)		(205)
			(697)		(205)
Net assets			187,333		118,138

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		187,233	118,038
		187,333	118,138

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

J Hatcher

Director

Date: 27 February 2023

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HAT JAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

1.	General information

Hat Jam Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 97 Embleton Road, London, SE13 7DQ.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

20%

straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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HAT JAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

2.7

Creditors

Short-term creditors are measured at the transaction price.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

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HAT JAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

2.Accounting policies (continued)

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

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HAT JAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

4.	Tangible fixed assets

		Office equipment
		£
	Cost
	At 1 May 2021	1,979
	Additions	2,635
	At 30 April 2022	4,614
	Depreciation
	At 1 May 2021	902
	Charge for the year on owned assets	924
	At 30 April 2022	1,826
	Net book value
	At 30 April 2022	2,788
	At 30 April 2021	1,077

Debtors

					2022	2021
					£	£


Trade debtors	-	5,670
Other debtors	-	34
	-	5,704

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HAT JAM LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

6.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Trade creditors	1,575	-
Corporation tax	30,859	13,340
Other taxation and social security	8,364	-
Other creditors	19,025	11,450
Accruals and deferred income	1,575	1,525
	61,398	26,315

7.	Share capital
		2022	2021
		£	£

Allotted, called up and fully paid

100 Ordinary shares of £1.00 each	100	100

8.	Related party transactions
	During the year, the director made net payments on behalf of the company of £7,575 (2021 - £7,246). The amount due to him at the year end was £19,026 (2021 - £11,451). No interest is payable on the loan.

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