Company Registration No. 09414868 (England and Wales)
JUMP HI LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
JUMP HI LIMITED
COMPANY INFORMATION
Director
Mr J M Farrant
Company number
09414868
Registered office
Dunkeswell Airfield
Dunkeswell
EX14 4LG
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
JUMP HI LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JUMP HI LIMITED
BALANCE SHEET
AS AT
29 FEBRUARY 2024
29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
76,534
83,571
Current assets
Debtors
4
722,253
578,131
Cash at bank and in hand
1,691
9,966
723,944
588,097
Creditors: amounts falling due within one year
5
(755,233)
(620,345)
Net current liabilities
(31,289)
(32,248)
Total assets less current liabilities
45,245
51,323
Creditors: amounts falling due after more than one year
6
(31,837)
(39,961)
Provisions for liabilities
(8,374)
(9,142)
Net assets
5,034
2,220
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
4,934
2,120
Total equity
5,034
2,220

The director 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 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Act 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.

The financial statements were approved and signed by the director and authorised for issue on 20 November 2024
Mr J M Farrant
Director
JUMP HI LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 FEBRUARY 2024
29 February 2024
- 2 -
Company Registration No. 09414868
JUMP HI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 3 -
1
Accounting policies
Company information

Jump Hi Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.

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. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover represents management fees receivable.

1.3
Tangible fixed assets

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

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

Land and buildings Leasehold
5 Years straight line
Plant and machinery
15% reducing balance
Motor vehicles
25% reducing balance

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
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.5
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.6
Taxation

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

JUMP HI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
1
Accounting policies
(Continued)
- 4 -
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 taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account on a straight line basis over the life of the lease.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 0).

3
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 March 2023
30,000
82,106
54,186
166,292
Additions
-
0
-
0
12,495
12,495
At 29 February 2024
30,000
82,106
66,681
178,787
Depreciation and impairment
At 1 March 2023
30,000
37,263
15,458
82,721
Depreciation charged in the year
-
0
6,726
12,806
19,532
At 29 February 2024
30,000
43,989
28,264
102,253
Carrying amount
At 29 February 2024
-
0
38,117
38,417
76,534
At 28 February 2023
-
0
44,843
38,728
83,571
JUMP HI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Unpaid share capital
100
100
Other debtors
714,987
570,311
Prepayments and accrued income
7,166
7,720
722,253
578,131
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,376
3,293
Obligations under finance leases
37,772
15,646
Trade creditors
23,964
49,342
Other taxation and social security
6,008
-
0
Other creditors
682,730
551,514
Accruals and deferred income
1,383
550
755,233
620,345
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,231
14,564
Other creditors
19,606
25,397
31,837
39,961
JUMP HI LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 FEBRUARY 2024
- 6 -
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary share of £1 each
100
100
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