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REGISTERED NUMBER: 06697979 (England and Wales)















Financial Statements

for the Year Ended 31 August 2023

for

JRPASS LTD

JRPASS LTD (REGISTERED NUMBER: 06697979)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JRPASS LTD

Company Information
for the year ended 31 August 2023







Directors: Mr H Khan
Mr N Roussos





Registered office: 3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ





Registered number: 06697979 (England and Wales)





Accountants: Haines Watts North London LLP
3rd Floor
Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

JRPASS LTD (REGISTERED NUMBER: 06697979)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
Fixed assets
Intangible assets 4 272,335 112,266
Tangible assets 5 26,602 23,668
298,937 135,934

Current assets
Debtors 6 1,170,039 348,476
Investments 7 230,000 230,000
Cash at bank and in hand 2,479,214 562,749
3,879,253 1,141,225
Creditors
Amounts falling due within one year 8 1,271,113 118,417
Net current assets 2,608,140 1,022,808
Total assets less current liabilities 2,907,077 1,158,742

Provisions for liabilities 5,853 4,944
Net assets 2,901,224 1,153,798

Capital and reserves
Called up share capital 10 450 450
Retained earnings 2,900,774 1,153,348
Shareholders' funds 2,901,224 1,153,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

JRPASS LTD (REGISTERED NUMBER: 06697979)

Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2024 and were signed on its behalf by:





Mr H Khan - Director


JRPASS LTD (REGISTERED NUMBER: 06697979)

Notes to the Financial Statements
for the year ended 31 August 2023


1. Statutory information

Jrpass Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the order is placed for the commuter travel tickets.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

JRPASS LTD (REGISTERED NUMBER: 06697979)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and compromise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

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 8 (2022 - 5 ) .

JRPASS LTD (REGISTERED NUMBER: 06697979)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


4. Intangible fixed assets
Development
costs
£
Cost
At 1 September 2022 839,851
Additions 312,506
At 31 August 2023 1,152,357
Amortisation
At 1 September 2022 727,585
Amortisation for year 152,437
At 31 August 2023 880,022
Net book value
At 31 August 2023 272,335
At 31 August 2022 112,266

5. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
Cost
At 1 September 2022 202,447 3,340 22,026 227,813
Additions - 8,445 4,337 12,782
Disposals - (686 ) (7,036 ) (7,722 )
At 31 August 2023 202,447 11,099 19,327 232,873
Depreciation
At 1 September 2022 186,252 2,462 15,431 204,145
Charge for year 4,049 2,312 2,506 8,867
Eliminated on disposal - (613 ) (6,128 ) (6,741 )
At 31 August 2023 190,301 4,161 11,809 206,271
Net book value
At 31 August 2023 12,146 6,938 7,518 26,602
At 31 August 2022 16,195 878 6,595 23,668

6. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 764,740 38,760
Other debtors 405,299 309,716
1,170,039 348,476

JRPASS LTD (REGISTERED NUMBER: 06697979)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


7. Current asset investments
2023 2022
£ £
Other 230,000 230,000

8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 677,955 109,576
Taxation and social security 492,531 1,584
Other creditors 100,627 7,257
1,271,113 118,417

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 14,400 14,400

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
450 Ordinary £1 450 450

11. Particulars of a charge

The company is subject to a charge registered against it on 20 February 2012 in favour of Lloyds TSB Bank plc.

Amount secured

All monies due or to become due from the company to the chargee on any account whatsoever.

Short particulars

All such rights to the repayment of the deposit meaning the debts on the accounts described in the charge schedule and any accounts for the time being replacing those mentioned in the schedule, and all interest owing in respect thereof and all deposits with the banks treasury division in the name of the bank re the company.