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REGISTERED NUMBER: 09569385 (England and Wales)







Financial Statements for the Year Ended 31 December 2023

for

Mega Jump Limited

Mega Jump Limited (Registered number: 09569385)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mega Jump Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: T I McClure
D E Melhus
P I Haagaas



REGISTERED OFFICE: 5 Patchway Trading Estate Britannia Road
Patchway
Bristol
BS34 5TA



REGISTERED NUMBER: 09569385 (England and Wales)



SENIOR STATUTORY AUDITOR: Matthew Dobbins FCA



AUDITORS: Dunkley's
Statutory Auditor
Chartered Accountants
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Mega Jump Limited (Registered number: 09569385)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 248,948 212,033

CURRENT ASSETS
Stocks 28,398 14,140
Debtors 5 507,454 230,916
Cash at bank and in hand 108,821 246,330
644,673 491,386
CREDITORS
Amounts falling due within one year 6 (626,326 ) (626,917 )
NET CURRENT ASSETS/(LIABILITIES) 18,347 (135,531 )
TOTAL ASSETS LESS CURRENT LIABILITIES 267,295 76,502

PROVISIONS FOR LIABILITIES (91,513 ) (88,848 )
NET ASSETS/(LIABILITIES) 175,782 (12,346 )

CAPITAL AND RESERVES
Called up share capital 8 200 200
Share premium 399,800 399,800
Other reserves 547,361 547,361
Retained earnings (771,579 ) (959,707 )
SHAREHOLDERS' FUNDS 175,782 (12,346 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





T I McClure - Director


Mega Jump Limited (Registered number: 09569385)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Mega Jump Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

Judgement applying to accounting policy
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities within the statement of financial position and the amounts reported for Turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Estimates and judgements are continually evaluated nd are based on historical experience nd other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following Judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

(i) Useful economic lives of tangible fixed assets

The annul depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilization and the physical condition of the assets.

(ii) Provisions

A provision is made for dilapidations. These provisions require management's best estimate of the costs that will be incurred based on legislative and contractual requirements. In addition, the timing of the cash flows and discount rates used to establish net present value of the obligations require management's judgement.

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 to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Turnover is attributable to trampoline activities, sale of socks and cafe sales.

Revenue for advance bookings is deferred and recognised on customer arrival or in the case of cancelled bookings on the date of cancellation.

Gift cards

Turnover from sales of gift cards are recognised at the earlier of point of redemption or point of expiry.

Mega Jump Limited (Registered number: 09569385)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - over remaining period of lease
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost and 10% on cost
Computer equipment - 20% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss.

Financial instruments
The company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors and loans to and from related parties.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies , are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, nd amounts due to related companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Mega Jump Limited (Registered number: 09569385)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the profit and loss when they fall due. Amounts not paid are shown in other creditors as a liability in the statement of financial position. The assets of the plan are held separately from the company in a independent administered fund.


Going concern

In considering the appropriate basis on which to prepare the financial statements, the directors are required to consider the company can continue in operational existence for the foreseeable future.

The Directors regularly review the Company's cash requirements and are confident that the Company has sufficient cash and funding facilities, based on reasonable expectations of future trading, to prepare these accounts on a going concern basis.

Operating leases

Rentals paid under operating leases are charged to the profit and loss on a straight-line basis over the lease term.

Incentives received to enter into an operating lease are credited to the statement of income and retained earnings, to reduce the lease expense, on a straight-line basis over the period of the lease.

Finance costs
Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Provision for liabilities
Provisions are made where an event has taken that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the statement of financial position.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 50 (2022 - 43 ) .

Mega Jump Limited (Registered number: 09569385)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 236,261 678,743 514,410 50,901 1,480,315
Additions - - 98,388 - 98,388
At 31 December 2023 236,261 678,743 612,798 50,901 1,578,703
DEPRECIATION
At 1 January 2023 135,444 669,897 412,883 50,058 1,268,282
Charge for year 22,757 2,373 36,130 213 61,473
At 31 December 2023 158,201 672,270 449,013 50,271 1,329,755
NET BOOK VALUE
At 31 December 2023 78,060 6,473 163,785 630 248,948
At 31 December 2022 100,817 8,846 101,527 843 212,033

5. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 240,494 -
Other debtors 1,000 -
Prepayments 97,568 62,524
339,062 62,524

Amounts falling due after more than one year:
Other debtors 168,392 168,392

Aggregate amounts 507,454 230,916

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 72,321 48,935
Amounts owed to group undertakings 48,056 194,775
Social security and other taxes 2,143 2,334
VAT 47,884 59,799
Other creditors 4,916 264
Accruals and deferred income 34,570 51,838
Accrued expenses 416,436 268,972
626,326 626,917

Mega Jump Limited (Registered number: 09569385)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 440,000 381,600
Between one and five years 1,136,667 1,144,800
In more than five years - 228,960
1,576,667 1,755,360

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
200 ordinary £1 200 200

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Dobbins FCA (Senior Statutory Auditor)
for and on behalf of Dunkley's

10. PENSION COMMITMENTS

During the year, the company operated a defined contribution pension scheme through an external provider.

Employer contributions to the scheme for the year totalled £2,314 (2022 - £658).

Accrued pension contributions outstanding at the balance date totalled £367 (2022 - £264).

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. ULTIMATE CONTROLLING PARTY

The parent of the smallest and largest group for which consolidated financial statements are drawn up of which this company is a member is Parc Invest AS, a company registered in Norway.

The registered office of the parent is Holtet 45, 1368 Stabekk, Norway.