Registered number
06946506
Jellyworks Healthcare Ltd
Filleted Accounts
30 June 2023
Jellyworks Healthcare Ltd
Registered number: 06946506
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 4 16,788 15,724
Tangible assets 5 41,029 54,461
57,817 70,185
Current assets
Stocks 92,446 65,137
Debtors 6 204,079 152,681
Investments held as current assets 2 74,413 71,941
Cash at bank and in hand 265,760 356,089
636,698 645,848
Creditors: amounts falling due within one year 7 (71,279) (129,950)
Net current assets 565,419 515,898
Total assets less current liabilities 623,236 586,083
Provisions for liabilities - (2,765)
Net assets 623,236 583,318
Capital and reserves
Called up share capital 100 100
Profit and loss account 623,136 583,218
Shareholders' funds 623,236 583,318
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Groom
Director
Approved by the board on 24 October 2023
Jellyworks Healthcare Ltd
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
NFTs are treated as intangible fixed assets initially measured at cost then revalued each year using the available quoted values for such assets.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings 20% reducing balance
Motor vehicles 25% reducing balance
Investments
Unlisted investments within current assets are measured at fair value using market rates which are readily available to value such assets. Unrealised changes in fair value are included in the profit and loss account along with the association deferred tax provision.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Current asset investments 2023 2022
£ £
Brought forward valuation 71,941 61,695
Addition in year
Unrealised surplus on revaluation 2,472 10,246
74,413 71,941
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
4 Intangible fixed assets £
NFTs: 2023 2022
Valuation
At 1 July 2022 15,724 9,353
Additions - 1,000
Revaluation intangibles 1,064 5,371
At 30 June 2023 16,788 15,724
NFTs are revalued annually based on the available quoted values for such assets at each year end.
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 7,746 67,714 75,460
At 30 June 2023 7,746 67,714 75,460
Depreciation
At 1 July 2022 4,071 16,928 20,999
Charge for the year 735 12,697 13,432
At 30 June 2023 4,806 29,625 34,431
Net book value
At 30 June 2023 2,940 38,089 41,029
At 30 June 2022 3,675 50,786 54,461
6 Debtors 2023 2022
£ £
Trade debtors 114,808 102,665
Deferred tax asset 242 -
Other debtors 89,029 50,016
204,079 152,681
7 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 24,333 52,018
Taxation and social security costs 38,777 47,455
Other creditors 8,169 30,477
71,279 129,950
8 Controlling party
The company is controlled by Mr A Groom
9 Other information
Jellyworks Healthcare Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 St John's Lane
London
EC1M 4BH
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