Acorah Software Products - Accounts Production 15.0.400 false true 30 July 2022 1 August 2021 false 31 July 2022 30 October 2023 30 October 2023 01998247 Ms Elizabeth Davies Ms Elizabeth Davies true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 01998247 2022-07-30 01998247 2023-10-30 01998247 2022-07-31 2023-10-30 01998247 frs-core:CurrentFinancialInstruments 2023-10-30 01998247 frs-core:Non-currentFinancialInstruments 2023-10-30 01998247 frs-core:ComputerEquipment 2023-10-30 01998247 frs-core:ComputerEquipment 2022-07-31 2023-10-30 01998247 frs-core:ComputerEquipment 2022-07-30 01998247 frs-core:FurnitureFittings 2023-10-30 01998247 frs-core:FurnitureFittings 2022-07-31 2023-10-30 01998247 frs-core:FurnitureFittings 2022-07-30 01998247 frs-core:ShareCapital 2023-10-30 01998247 frs-core:RetainedEarningsAccumulatedLosses 2023-10-30 01998247 frs-bus:PrivateLimitedCompanyLtd 2022-07-31 2023-10-30 01998247 frs-bus:FilletedAccounts 2022-07-31 2023-10-30 01998247 frs-bus:SmallEntities 2022-07-31 2023-10-30 01998247 frs-bus:AuditExempt-NoAccountantsReport 2022-07-31 2023-10-30 01998247 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-31 2023-10-30 01998247 frs-bus:OrdinaryShareClass1 2022-07-31 2023-10-30 01998247 frs-bus:OrdinaryShareClass1 2023-10-30 01998247 1 2022-07-31 2023-10-30 01998247 frs-bus:Director1 2022-07-31 2023-10-30 01998247 frs-bus:Director1 2022-07-30 01998247 frs-bus:Director1 2023-10-30 01998247 frs-core:CurrentFinancialInstruments 1 2023-10-30 01998247 frs-core:CurrentFinancialInstruments 2 2023-10-30 01998247 frs-countries:EnglandWales 2022-07-31 2023-10-30 01998247 2021-07-31 01998247 2022-07-30 01998247 2021-08-01 2022-07-30 01998247 frs-core:CurrentFinancialInstruments 2022-07-30 01998247 frs-core:Non-currentFinancialInstruments 2022-07-30 01998247 frs-core:ShareCapital 2022-07-30 01998247 frs-core:RetainedEarningsAccumulatedLosses 2022-07-30 01998247 frs-bus:OrdinaryShareClass1 2021-08-01 2022-07-30 01998247 frs-core:CurrentFinancialInstruments 1 2022-07-30 01998247 frs-core:CurrentFinancialInstruments 2 2022-07-30
Registered number: 01998247
Just Flights Limited
Unaudited Financial Statements
For the Period 31 July 2022 to 30 October 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 01998247
30 October 2023 30 July 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,824 3,757
8,824 3,757
CURRENT ASSETS
Debtors 5 483,962 152,605
Cash at bank and in hand 332,520 614,979
816,482 767,584
Creditors: Amounts Falling Due Within One Year 6 (180,198 ) (61,159 )
NET CURRENT ASSETS (LIABILITIES) 636,284 706,425
TOTAL ASSETS LESS CURRENT LIABILITIES 645,108 710,182
NET ASSETS 645,108 710,182
CAPITAL AND RESERVES
Called up share capital 7 30,000 30,000
Profit and Loss Account 615,108 680,182
SHAREHOLDERS' FUNDS 645,108 710,182
Page 1
Page 2
For the period ending 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Elizabeth Davies
Director
3 July 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Just Flights Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01998247 . The registered office is 11 Dyke Road Avenue, Hove, East Sussex, BN3 6QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% straight line
Computer Equipment 25% straight line
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the period was:
30 October 2023 30 July 2022
Office and administration 1 1
1 1
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 31 July 2022 12,809 - 12,809
Additions 6,734 1,553 8,287
As at 30 October 2023 19,543 1,553 21,096
Depreciation
As at 31 July 2022 9,052 - 9,052
Provided during the period 2,776 444 3,220
As at 30 October 2023 11,828 444 12,272
Net Book Value
As at 30 October 2023 7,715 1,109 8,824
As at 31 July 2022 3,757 - 3,757
5. Debtors
30 October 2023 30 July 2022
£ £
Due within one year
Prepayments and accrued income 433 -
Other debtors 117,237 75,500
Corporation tax recoverable assets 28,511 36,253
VAT 10,834 4,426
Director's loan account - 36,426
157,015 152,605
Due after more than one year
Directors loan account 326,947 -
483,962 152,605
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Page 5
6. Creditors: Amounts Falling Due Within One Year
30 October 2023 30 July 2022
£ £
Trade creditors 50,666 47
Corporation tax 10,446 33,077
Other creditors 70 -
Trade debtors (Overpaid) 4,289 24,035
Other creditors. 102,966 -
Accruals and deferred income 6,250 4,000
Director's loan account 5,511 -
180,198 61,159
7. Share Capital
30 October 2023 30 July 2022
Allotted, called up and fully paid £ £
30,000 Ordinary Shares of £ 1.00 each 30,000 30,000
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 31 July 2022 Amounts advanced Amounts repaid Amounts written off As at 30 October 2023
£ £ £ £ £
Ms Elizabeth Davies 36,426 337,435 (52,425 ) - 321,436
The above loan is unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Ms Elizabeth Davies by virtue of her ownership of 100% of the issued share capital in the company.
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