REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2022 |
|
for |
|
JAMM PRINT AND PRODUCTION LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 March 2022 |
|
for |
|
JAMM PRINT AND PRODUCTION LIMITED |
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
JAMM PRINT AND PRODUCTION LIMITED |
|
Company Information |
for the Year Ended 31 March 2022 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Balance Sheet |
31 March 2022 |
|
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
|
ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
NET ASSETS |
|
|
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Balance Sheet - continued |
31 March 2022 |
|
2022 | 2021 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
|
|
Revaluation reserve | 9 |
|
|
Retained earnings | 9 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
|
|
1. | STATUTORY INFORMATION |
|
Jamm Print and Production Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Going concern |
The directors have considered the net current liabilities as at 31st March 2022. Bank loans (see note 9) include a short term loan of £2.22m which is to be repaid post year end. The Directors are currently seeking long term funding to meet the cash flow requirements of the company. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Tangible fixed assets |
|
|
Freehold Building - 50 years |
Motor Vehicles - 25% Per Annum |
Fixtures and Fittings - 10 - 25% Per Annum |
IT Hardware - 33% Per Annum |
IT Software - 50% Per Annum |
|
Freehold properties have been measured at fair value by third party professional valuers. Gains are recognised within other comprehensive income with losses recognised in other comprehensive income to the extent of previously recognised gains. Losses in excess of gains will be recognised in the profit or loss. Depreciation will be charged over the estimated useful life of the properties in subsequent years. |
|
Grants received specifically to part finance capital costs are reflected as deferred capital grants and amortised to the profit and loss account over the lives of the assets concerned. |
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2021 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
) | ( |
) |
Revaluations |
|
|
|
At 31 March 2022 |
|
|
|
DEPRECIATION |
At 1 April 2021 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) | ( |
) |
Revaluation adjustments | ( |
) |
|
( |
) |
At 31 March 2022 |
|
|
|
NET BOOK VALUE |
At 31 March 2022 |
|
|
|
At 31 March 2021 |
|
|
|
|
Included above are motor vehicle and other equipment held under hire purchase contracts, the Net Book Value of which amounted to £29,352 (2021: £61,608). |
|
Land and buildings are charged to secure loans (see note 9). |
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
|
4. | TANGIBLE FIXED ASSETS - continued |
|
Cost or valuation at 31 March 2022 is represented by: |
|
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2022 | 1,066,951 | - | 1,066,951 |
Cost | 3,418,724 | 609,119 | 4,027,843 |
4,485,675 | 609,119 | 5,094,794 |
|
If Land and Buildings had not been revalued they would have been included at the following historical cost: |
|
2022 | 2021 |
£ | £ |
Cost | 1,708,049 | - |
Aggregate depreciation | 448,176 | - |
|
Value of land in freehold land and buildings | 1,259,873 | - |
|
Land and Buildings were valued on an open market basis on 20 June 2022 by Cluttons LLP . |
|
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
|
NET BOOK VALUE |
At 31 March 2022 |
|
At 31 March 2021 |
|
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
|
5. | FIXED ASSET INVESTMENTS - continued |
|
Jamm Print & Production PTY Ltd, a wholly owned subsidiary of Jamm Print and Production Ltd, is incorporated in Australia. The holding represents 1,000 AU$1 shares. During the year Jamm Print & Production PTY Ltd made a loss of AU$73,196 (£39,504 at the average exchange rate for the year) and had net assets of AU$311,458 (£178,213 at the year end exchange rate). |
|
Jamm Print & Production s.r.o., a wholly owned subsidiary of Jamm Print and Production Ltd, is incorporated in Czech Republic. The holding represents 10,000 - 1Kc shares. During the year Jamm Print & Production s.r.o made a loss of 85,480 euros (£72,803 at the average exchange rate for the year) and had net liabilities of 76,664 euros (£65,009 at the year end exchange rate). |
|
Consolidated accounts are not prepared as the group is a small group. |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
Included in bank loans and overdrafts above is a loan of £2.22m that is secured on the freehold property. This loan is to be repaid post year end and replaced with long term funding. |
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts |
|
|
|
|
JAMM PRINT AND PRODUCTION LIMITED (REGISTERED NUMBER: 03003843) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2022 | 2021 |
£ | £ |
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 26,851 |
|
9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
|
At 1 April 2021 |
|
|
868,180 |
Deficit for the year | ( |
) | - | ( |
) |
Gain/loss on revaluation of |
tangible assets | - | 1,508,397 | 1,508,397 |
At 31 March 2022 |
|
|
2,376,244 |
|
10. | RELATED PARTY DISCLOSURES |
|
During the year ended 31st March 2009 a wholly owned subsidiary, Jamm Print & Production PTY Ltd, was incorporated in Australia. Jamm Print & Production Ltd's holding consists of 1,000 AU$1 shares and is reflected in the Balance Sheet as an Investment (Note 7). |
|
During the year ended 31st March 2019 a wholly owned subsidiary, Jamm Print & Production s.r.o., was incorporated in Czech Republic. Jamm Print & Production Ltd's holding consists of 10,000 - 1Kc shares and is reflected in the Balance Sheet as an Investment (Note 7). |