Company registration number 09621404 (England and Wales)
JS3 GLOBAL LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
JS3 GLOBAL LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JS3 GLOBAL LTD
COMPANY INFORMATION
Directors
J Lennard
S Price
N Devine
Company number
09621404
Registered office
Imperial House
79-81 Hornsby Street
Bury
United Kingdom
BL9 5BN
Accountants
M J Goldman (Chartered Accountants)
Hollinwood Business Centre
Albert Street
Oldham
Lancashire
OL8 3QL
JS3 GLOBAL LTD
BALANCE SHEET
AS AT
30 OCTOBER 2023
30 October 2023
- 1 -
30 October 2023
31 October 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,790
868
Current assets
Debtors
4
256,277
140,824
Cash at bank and in hand
6,240
65,949
262,517
206,773
Creditors: amounts falling due within one year
5
(231,288)
(169,611)
Net current assets
31,229
37,162
Total assets less current liabilities
33,019
38,030
Creditors: amounts falling due after more than one year
6
(32,203)
(37,537)
Provisions for liabilities
(448)
-
0
Net assets
368
493
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
268
393
Total equity
368
493

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

JS3 GLOBAL LTD
BALANCE SHEET (CONTINUED)
AS AT
30 OCTOBER 2023
30 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 November 2024 and are signed on its behalf by:
N Devine
Director
Company registration number 09621404 (England and Wales)
JS3 GLOBAL LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

JS3 Global Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Imperial House, 79-81 Hornsby Street, Bury, United Kingdom, BL9 5BN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, except for modification to a fair value basis where specified in the accounting policies set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates..

Revenue is recognised at the point in time when a candidate is placed within either a temporary or permanent contract of employment.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings.
25% straight line
Computers
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

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, which include debtors and cash, together with basic financial liabilities, including creditors, are initially recognised at transaction cost and not amortised as they are either receivable or payable within one year.

 

Creditors payable after one year constitutes a commercial business loan with a market rate of interest being applied. This is recognised in full.

JS3 GLOBAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
JS3 GLOBAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 October 2022
4,030
Additions
1,514
At 30 October 2023
5,544
Depreciation and impairment
At 31 October 2022
3,162
Depreciation charged in the year
592
At 30 October 2023
3,754
Carrying amount
At 30 October 2023
1,790
At 30 October 2022
868
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
61,927
52,073
Other debtors
194,350
88,751
256,277
140,824
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
5,344
5,203
Trade creditors
44,045
52,727
Taxation and social security
87,796
81,852
Other creditors
94,103
29,829
231,288
169,611
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
32,203
37,537
JS3 GLOBAL LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2023
- 6 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
24
24
24
24
Ordinary B shares of £1 each
51
51
51
51
Ordinary C shares of £1 each
25
25
25
25
100
100
100
100

 

8
Directors' transactions

During the year Mr N Devine, a director and shareholder, withdrew funds totaling £83,970 (2022: £75,185) from the company. After accounting for net wages and dividends issued during the year, as at the 31 October 2023, he owed the company £73,173 (2022: £33,872). Interest has been charged on this loan. This balance was repaid in full within 9 months of the year end.

 

Mr S Price, a director and shareholder, withdrew funds totaling £70,539 (2022: £61,645) from the company. After accounting for net wages and dividends issued during the year, as at the 31 October 2023, he owed the company £35,762 (2022: £3,803). Interest has been charged on this loan. This balance was repaid in full within 9 months of the year end.

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