Caseware UK (AP4) 2023.0.135 2023.0.135 The principal activity of the company during the year was marine insurance broking.2023-05-01false0true0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07611425 2023-05-01 2024-04-30 07611425 2024-04-30 07611425 2022-05-01 2023-04-30 07611425 2023-04-30 07611425 c:Director1 2023-05-01 2024-04-30 07611425 d:FurnitureFittings 2023-05-01 2024-04-30 07611425 d:FurnitureFittings 2024-04-30 07611425 d:FurnitureFittings 2023-04-30 07611425 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07611425 d:OfficeEquipment 2023-05-01 2024-04-30 07611425 d:OfficeEquipment 2024-04-30 07611425 d:OfficeEquipment 2023-04-30 07611425 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07611425 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07611425 d:CurrentFinancialInstruments 2024-04-30 07611425 d:CurrentFinancialInstruments 2023-04-30 07611425 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07611425 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07611425 d:ShareCapital 2024-04-30 07611425 d:ShareCapital 2023-04-30 07611425 d:RetainedEarningsAccumulatedLosses 2024-04-30 07611425 d:RetainedEarningsAccumulatedLosses 2023-04-30 07611425 c:OrdinaryShareClass1 2023-05-01 2024-04-30 07611425 c:OrdinaryShareClass1 2024-04-30 07611425 c:OrdinaryShareClass1 2023-04-30 07611425 c:OrdinaryShareClass2 2023-05-01 2024-04-30 07611425 c:OrdinaryShareClass2 2024-04-30 07611425 c:OrdinaryShareClass2 2023-04-30 07611425 c:FRS102 2023-05-01 2024-04-30 07611425 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07611425 c:FullAccounts 2023-05-01 2024-04-30 07611425 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07611425 6 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07611425













Justships Ltd

Financial statements
Information for filing with the registrar

30 April 2024




 
Justships Ltd


Balance sheet
At 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
5,993
4,240

Investments
 5 
224,406
100,002

  
230,399
104,242

Current assets
  

Debtors
 6 
2,169,649
1,496,011

Cash at bank and in hand
  
4,136,376
2,239,743

  
6,306,025
3,735,754

Creditors: amounts due within one year
 7 
(1,454,804)
(895,069)

Net current assets
  
 
 
4,851,221
 
 
2,840,685

Total assets less current liabilities
  
5,081,620
2,944,927

Provisions for liabilities
  

Deferred tax
  
(1,057)
(471)

  
 
 
(1,057)
 
 
(471)

Net assets
  
5,080,563
2,944,456


Capital and reserves
  

Called up share capital 
 8 
110
110

Profit and loss account
  
5,080,453
2,944,346

Shareholders' funds
  
5,080,563
2,944,456


1

 
Justships Ltd

    
Balance sheet (continued)
At 30 April 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 August 2024.




Mr S Purvis
Director

Company registered number: 07611425
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Justships Ltd
 
 

Notes to the financial statements
Year ended 30 April 2024

1.


General information

Justships Limited ('the company') is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is 5 Shawwell Business Centre, Stagshaw Road, Corbridge, Northumberland, NE45 5PE.

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.3

Revenue recognition

The turnover shown in the statement of comprehensive income represents amounts invoiced and recognised in the period to which it relates.

 
2.4

Finance costs

Finance costs are charged to profit or 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.

3

 
Justships Ltd
 

 
Notes to the financial statements
Year ended 30 April 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 balance sheet 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 balance sheet 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 differences 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 balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
straight line
Office equipment
-
20%
straight line

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

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

4

 
Justships Ltd
 

 
Notes to the financial statements
Year ended 30 April 2024

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The company has no employees other than the directors, who did not receive any remuneration.



4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost


At 1 May 2023
33,648
14,279
47,927


Additions
-
3,634
3,634



At 30 April 2024

33,648
17,913
51,561



Depreciation


At 1 May 2023
31,967
11,719
43,686


Charge for the year
579
1,303
1,882



At 30 April 2024

32,546
13,022
45,568



Net book value



At 30 April 2024
1,102
4,891
5,993



At 30 April 2023
1,681
2,559
4,240

5

 
Justships Ltd
 
 

Notes to the financial statements
Year ended 30 April 2024

5.


Fixed asset investments





Unlisted investments

£



Cost


At 1 May 2023
100,002


Additions
124,404



At 30 April 2024
224,406





6.


Debtors

2024
2023
£
£


Trade debtors
1,995,061
1,267,280

Other debtors
168,035
216,642

Prepayments and accrued income
6,553
12,089

2,169,649
1,496,011



7.


Creditors: amounts due within one year

2024
2023
£
£

Trade creditors
12,321
12,389

Corporation tax
845,538
371,009

Accruals and deferred income
596,945
511,671

1,454,804
895,069


6

 
Justships Ltd
 
 

Notes to the financial statements
Year ended 30 April 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 -100) Ordinary shares shares of £1 each
100
100
10 (2023 -10) A Ordinary shares shares of £1 each
10
10

110

110


 
7