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COMPANY REGISTRATION NUMBER: 08291738
JUMPXL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2021
JUMPXL LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2021
2021
2020
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
3,247
Investments
6
20,451
1
--------
----
23,698
1
CURRENT ASSETS
Debtors
7
12,320
4,500
Cash at bank and in hand
61,119
6,440
--------
--------
73,439
10,940
CREDITORS: amounts falling due within one year
8
33,756
36,755
--------
--------
NET CURRENT ASSETS/(LIABILITIES)
39,683
( 25,815)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
63,381
( 25,814)
--------
--------
NET ASSETS/(LIABILITIES)
63,381
( 25,814)
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
63,281
( 25,914)
--------
--------
SHAREHOLDERS FUNDS/(DEFICIT)
63,381
( 25,814)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
JUMPXL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2021
These financial statements were approved by the board of directors and authorised for issue on 25 May 2022 , and are signed on behalf of the board by:
Mr A J Honess
Director
Company registration number: 08291738
JUMPXL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Loweridge House, Upper Ladyes Hill, Kenilworth, Warwickshire, CV8 2FB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have prepared the accounts on a going concern basis. The company is dependent on the continued support of its directors and shareholders to enable it to meet its debts as they fall due. The directors have concluded that the company is able to meet its debts as they fall due. Consequently the financial statements do not include any adjustments that would result if the company were unable to continue as a going concern.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised to the extent that it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Computer Equipment
-
3 years straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
The company has no employees other than the directors.
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 December 2020
13,927
2,464
16,391
Additions
4,871
4,871
--------
-------
--------
At 30 November 2021
13,927
7,335
21,262
--------
-------
--------
Depreciation
At 1 December 2020
13,927
2,464
16,391
Charge for the year
1,624
1,624
--------
-------
--------
At 30 November 2021
13,927
4,088
18,015
--------
-------
--------
Carrying amount
At 30 November 2021
3,247
3,247
--------
-------
--------
At 30 November 2020
--------
-------
--------
6. Investments
Shares in group undertakings
Other investments other than loans
Total
£
£
£
Cost
At 1 December 2020
1
1
Additions
20,450
20,450
----
--------
--------
At 30 November 2021
1
20,450
20,451
----
--------
--------
Impairment
At 1 December 2020 and 30 November 2021
----
--------
--------
Carrying amount
At 30 November 2021
1
20,450
20,451
----
--------
--------
At 30 November 2020
1
1
----
--------
--------
7. Debtors
2021
2020
£
£
Trade debtors
12,320
4,500
--------
-------
8. Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
16,043
Social security and other taxes
126
2,006
Other creditors
17,587
34,749
--------
--------
33,756
36,755
--------
--------