Registered number
06946506
Jellyworks Healthcare Ltd
Filleted Accounts
30 June 2024
Jellyworks Healthcare Ltd
Registered number: 06946506
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 4 17,065 16,788
Tangible assets 5 31,752 41,029
48,817 57,817
Current assets
Stocks 104,279 92,446
Debtors 6 184,596 204,079
Investments held as current assets 2 88,896 74,413
Cash at bank and in hand 324,732 265,760
702,503 636,698
Creditors: amounts falling due within one year 7 (93,996) (71,279)
Net current assets 608,507 565,419
Total assets less current liabilities 657,324 623,236
Provisions for liabilities (2,293) -
Net assets 655,031 623,236
Capital and reserves
Called up share capital 100 100
Profit and loss account 654,931 623,136
Shareholders' funds 655,031 623,236
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Groom
Director
Approved by the board on 22 October 2024
Jellyworks Healthcare Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Intangible fixed assets
NFTs are treated as intangible fixed assets initially measured at cost then revalued each year using the available quoted values for such assets.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & fittings 20% reducing balance
Computer equipment 1/3 straight line
Motor vehicles 25% reducing balance
Investments
Unlisted investments within current assets are measured at fair value using market rates which are readily available to value such assets. Unrealised changes in fair value are included in the profit and loss account along with the association deferred tax provision.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Current asset investments 2024 2023
£ £
Brought forward valuation 74,413 71,941
Addition in year
Unrealised surplus on revaluation 14,483 2,472
88,896 74,413
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
4 Intangible fixed assets £
NFTs: 2024 2023
Valuation
At 1 July 2023 16,788 15,724
Revaluation intangibles 277 1,064
At 30 June 2024 17,065 16,788
NFTs are revalued annually based on the available quoted values for such assets at each year end.
5 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 7,746 67,714 75,460
Additions 1,249 - 1,249
At 30 June 2024 8,995 67,714 76,709
Depreciation
At 1 July 2023 4,806 29,625 34,431
Charge for the year 1,004 9,522 10,526
At 30 June 2024 5,810 39,147 44,957
Net book value
At 30 June 2024 3,185 28,567 31,752
At 30 June 2023 2,940 38,089 41,029
6 Debtors 2024 2023
£ £
Trade debtors 159,678 114,808
Deferred tax asset - 242
Other debtors 24,918 89,029
184,596 204,079
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,337 24,333
Taxation and social security costs 54,492 38,777
Other creditors 28,167 8,169
93,996 71,279
8 Controlling party
The company is controlled by Mr A Groom
9 Other information
Jellyworks Healthcare Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 St John's Lane
London
EC1M 4BH
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