REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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JAM UK TRADING LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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JAM UK TRADING LIMITED |
JAM UK TRADING LIMITED (REGISTERED NUMBER: 08200212) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
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Chartered Accountants' Report | 6 |
JAM UK TRADING LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants and Chartered Tax Advisors |
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JAM UK TRADING LIMITED (REGISTERED NUMBER: 08200212) |
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ABBREVIATED BALANCE SHEET |
30 SEPTEMBER 2016 |
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30.9.16 | 30.9.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
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Tangible assets | 3 |
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CURRENT ASSETS |
Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
4 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 5 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
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The financial statements were approved by the Board of Directors on
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JAM UK TRADING LIMITED (REGISTERED NUMBER: 08200212) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company is expected to continue to generate positive cash flows for the foreseeable future and for not less |
than 12 months from the date of this report. On the basis of their assessment of the company's financial position, |
the directors have a reasonable expectation that the company will be able to continue in operational existence |
for the foreseeable future which is not less than 12 months from the date of approving these financial |
statements. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial |
statements. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover comprises the rendering of services in the ordinary course of the company's activity. Turnover is |
presented net of value-added tax. The company recognises turnover when the amount of revenue and related |
costs can be reliably measured, it is probable that the collectability of the related receivables is reasonably |
assured. |
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Turnover is wholly derived within the United Kingdom. |
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Intangible fixed assets |
All assets are initially recognised at cost and subsequently carried at cost less accumulated amortisation. The |
cost of an asset initially recognised includes its purchase price and any cost 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. |
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Intangible fixed assets are amortised at rates calculated to write off the assets on a straight basis over their |
estimated useful economic lives, not to exceed five years. Impairment of intangible assets is only reviewed |
where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The |
cost of an asset initially recognised includes its purchase price and any cost 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. |
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Taxation |
The tax expense for the year comprises current and deferred tax. |
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Tax is recognised in profit or loss except that a change 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. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by |
the balance sheet date, except that: |
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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 |
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any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met. |
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Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively |
enacted by the balance sheet date. |
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Foreign currencies |
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 of exchange ruling |
at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
JAM UK TRADING LIMITED (REGISTERED NUMBER: 08200212) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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1. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those |
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance |
leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
capital element of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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2. | INTANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 October 2015 |
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Additions |
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At 30 September 2016 |
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AMORTISATION |
At 1 October 2015 |
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Amortisation for year |
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At 30 September 2016 |
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NET BOOK VALUE |
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At 30 September 2016 |
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At 30 September 2015 |
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3. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 1 October 2015 |
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Additions |
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At 30 September 2016 |
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DEPRECIATION |
At 1 October 2015 |
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Charge for year |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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4. | CREDITORS |
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Creditors include an amount of £
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JAM UK TRADING LIMITED (REGISTERED NUMBER: 08200212) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.16 | 30.9.15 |
value: | £ | £ |
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Ordinary | £1 |
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6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 September 2016 and |
30 September 2015: |
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30.9.16 | 30.9.15 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced | ( |
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Amounts repaid |
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( |
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Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts advanced | ( |
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Amounts repaid |
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( |
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Balance outstanding at end of year | ( |
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As a condition on signing the lease purchase agreement, the directors have provided personal guarantees and |
indemnities to the lease purchase company. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
JAM UK TRADING LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Jam UK Trading Limited for the year ended 30 September 2016 which comprise the Profit and |
Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information |
and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Jam UK Trading Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jam UK Trading Limited and state those matters that we have agreed to state to the Board of Directors of Jam UK Trading Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jam UK Trading Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Jam UK Trading Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Jam UK Trading Limited. You consider that Jam UK Trading Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Jam UK Trading Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants and Chartered Tax Advisors |
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23 May 2017 |