REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Jumpin Surrey Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 December 2023 |
for |
Jumpin Surrey Limited |
Jumpin Surrey Limited (Registered number: 11531992) |
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 |
Jumpin Surrey Limited |
Company Information |
for the Year Ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Statutory Auditor |
Chartered Accountants |
Woodlands Grange |
Woodlands Lane |
Bradley Stoke |
Bristol |
BS32 4JY |
Jumpin Surrey Limited (Registered number: 11531992) |
Balance Sheet |
31 December 2023 |
31.12.23 | 31.12.22 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
Jumpin Surrey Limited (Registered number: 11531992) |
Notes to the Financial Statements |
for the Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Jumpin Surrey Limited is a |
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 Republic of Ireland and the Companies Act 2006. |
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies ( see note 3). |
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 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 Measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales tax. |
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. |
Goodwill |
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of aquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over the remaining life of the lease being 6.75 years. |
Intangible assets |
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. |
Jumpin Surrey Limited (Registered number: 11531992) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
Tangible fixed assets |
Long leasehold | - |
Plant and machinery | - |
Computer equipment | - |
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 estimate 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. |
Current and deferred taxation |
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of financial position date, except that: |
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the difference between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date. |
Jumpin Surrey Limited (Registered number: 11531992) |
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 nd re 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. |
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. |
Borrowing costs |
All borrowing costs are recognised in the profit and loss in the year in which they incurred. |
Provisions for liabilities |
Provisions are made where an event has taken place 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 profit or 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. |
Operating leases |
Rentals paid under operating leases are charged to the profit and loss on a straight-line basis over the lease term. |
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Jumpin Surrey Limited (Registered number: 11531992) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | TANGIBLE FIXED ASSETS |
Long | Plant and | Computer |
leasehold | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
Jumpin Surrey Limited (Registered number: 11531992) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 31.12.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
VAT | 47,595 | - |
Other creditors |
Accrued expenses |
8. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.23 | 31.12.22 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.23 | 31.12.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | 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 £2,751 (2022 - £1,533). |
Accrued pension contributions outstanding at the balance date totalled £Nil (2022 - £202). |
12. | CAPITAL COMMITMENTS |
31.12.23 | 31.12.22 |
£ | £ |
Contracted but not provided for in the |
financial statements |
13. | 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. |
Jumpin Surrey Limited (Registered number: 11531992) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2023 |
14. | 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. |
15. | 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. |