Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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0 | 10,689 | |||
Current assets | ||||
Debtors | 4 |
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12 | 78 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (125,860) | (131,914) | ||
Total assets less current liabilities | (125,860) | (121,225) | ||
Creditors: amounts falling due after more than one year | 6 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholder's deficit | (
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Directors' responsibilities:
The financial statements of Jump 4 South West Limited (registered number:
Mr R Kujawski
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Jump 4 South West Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom. The principal place of business is Wilson Way, Pool, Redruth, Cornwall, TR15 3RT.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £133,860. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Revenue from services is recognised as they are delivered.
Plant and machinery |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 01 July 2023 |
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At 30 June 2024 |
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Accumulated depreciation | |||
At 01 July 2023 |
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Charge for the financial year |
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At 30 June 2024 |
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Net book value | |||
At 30 June 2024 |
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At 30 June 2023 |
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2024 | 2023 | ||
£ | £ | ||
Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans and overdrafts |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
2024 | 2023 | ||
£ | £ | ||
Less 4 Spares Limited | (112,296) | (102,770) |
The company's share capital is 100% owned by Less 4 Spares Limited. There is an ongoing intercompany loan between the two entities, for which the balances at the year end date is shown above. Jump 4 South West Limited is not charged any interest on the outstanding loan balance with Less 4 Spares Limited.