Company Registration No. 9314027 (England and Wales)
Jumptech Limited
Unaudited accounts
for the year ended 31 December 2023
Jumptech Limited
Unaudited accounts
Contents
Jumptech Limited
Company Information
for the year ended 31 December 2023
Directors
Philip Nunn
Thomas Griffin
Charles Bodycote
Jonathan Turner
David Manston
John Tough
Tomas Kemtys
Company Number
9314027 (England and Wales)
Registered Office
23a Dawkins Road
Poole
Dorset
BH15 4JY
England
Accountants
JSVM Limited
Certified Public Accountants
23a Dawkins Road
Poole
Dorset
BH15 4JY
Jumptech Limited
Statement of financial position
as at 31 December 2023
Intangible assets
1,916,589
1,561,372
Tangible assets
56,206
63,643
Cash at bank and in hand
296,605
570,322
Creditors: amounts falling due within one year
(737,619)
(472,719)
Net current assets
614,060
556,685
Total assets less current liabilities
2,609,040
2,181,700
Creditors: amounts falling due after more than one year
(1,375,000)
(250,000)
Net assets
1,234,040
1,931,700
Called up share capital
1,510
1,447
Share premium
1,959,743
1,584,806
Profit and loss account
(727,213)
345,447
Shareholders' funds
1,234,040
1,931,700
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2024 and were signed on its behalf by
Philip Nunn
Director
Company Registration No. 9314027
Jumptech Limited
Notes to the Accounts
for the year ended 31 December 2023
Jumptech Limited is a private company, limited by shares, registered in England and Wales, registration number 9314027. The registered office is 23a Dawkins Road, Poole, Dorset, BH15 4JY, England.
2
Compliance with accounting standards
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". The financial statements have been prepared under the historical cost convention.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 accounts have been prepared under the historical cost convention.
Preparation of consolidated financial statements
The financial statements present information about the company as an individual undertaking and not about its group which comprise a small-sized group.
The group has taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts and not to disclose related party transactions with wholly owned subsidiaries within the group.
The accounts are presented in £ sterling.
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 rates of exchange ruling at the date of the transaction.
Exchange differences are taken into account in arriving at the operating profit.
Turnover is measured at the fair value of the consideration received or receivable for services rendered, excluding discounts, rebates, value added tax and other sales taxes.
Intellectual property is initially capitalised at cost and is subsequently carried at cost less accumulated amortisation and accumulated impairment losses.
Intangible fixed assets are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives, normally taken as 10 years.
Impairment of intangible fixed assets is reviewed annually and provided for within the financial statements where circumstances indicate that the carrying value of an asset is likely to not be fully recoverable.
Jumptech Limited
Notes to the Accounts
for the year ended 31 December 2023
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Annual Reducing Balance
Computer equipment
3 Years Straight Line
Expenditure incurred on the development of internally generated products is capitalised if it can be demonstrated that:
- it is technically feasible to develop the product for it to be sold;
- adequate resources are available to complete the development;
- there is an intention to complete and sell the product;
- the company is able to sell the product;
- sale of the product will generate future economic benefits; and
- expenditure on the project can be measured reliably.
Capitalised development costs are amortised from their commercial completion over the periods in which the Company expects to benefit from selling the products developed.
The useful life and the value of the capitalised development cost are assessed for impairment annually.
Current tax liabilities are recognised for the amount of corporation tax payable in respect of the taxable profit for the current or past reporting periods, using tax rates that have been enacted by the reporting date.
Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
No deferred tax asset is recognised in respect of available taxation losses.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when they fall due and once contributions have been paid the Company has no further payment
obligations.
The assets of the plan are held separately from the Company in independently administered funds.
Investments in subsidiaries are measured at cost less accumulated impairment.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Government grants in relation to expenditure are credited when the expenditure is charged to profit and loss.
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Basic financial assets and liabilities are recognised at transaction price.
Jumptech Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Intangible fixed assets
Other
At 1 January 2023
1,724,787
At 31 December 2023
2,241,028
Charge for the year
175,024
At 31 December 2023
324,439
At 31 December 2023
1,916,589
At 31 December 2022
1,561,372
5
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
62,600
45,788
108,388
At 31 December 2023
62,600
64,223
126,823
At 1 January 2023
21,975
22,770
44,745
Charge for the year
10,156
15,716
25,872
At 31 December 2023
32,131
38,486
70,617
At 31 December 2023
30,469
25,737
56,206
At 31 December 2022
40,625
23,018
63,643
6
Investments
Subsidiary undertakings
Valuation at 1 January 2023
-
Valuation at 31 December 2023
22,185
The following subsidiaries are trading 100% direct subsidiaries of the Company:
Jumptech GMBH
registered in Germany with its Registered Office at Kuhlenwall 20, 47051 Duisburg, Germany;
Jumptech USA, Inc
registered in the United States of America with its Registered Office at 9 East Loockerman Street, Suite 311, Dover, County of Kent, DE 19901, USA.
Jumptech Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
257,619
307,536
Accrued income and prepayments
129,960
32,385
Other debtors
266,496
119,161
Amounts falling due after more than one year
Amounts due from group undertakings etc.
400,999
-
8
Creditors: amounts falling due within one year
2023
2022
Trade creditors
89,742
49,883
Taxes and social security
139,266
69,774
Loans from directors
279,257
279,372
Deferred income
114,769
9,430
The Director's Loan Account is interest-free and repayable on demand.
9
Creditors: amounts falling due after more than one year
2023
2022
Non-equity preference shares
1,375,000
250,000
10
Average number of employees
During the year the average number of employees was 47 (2022: 26).