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Registration number: 04715116

Jarrang Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Jarrang Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 10

 

Jarrang Limited

Company Information

Director

Mr Stafford Sumner

Company secretary

Mr Samuel Normington

Registered office

Maritime House
Discovery Quay
Falmouth
Cornwall
TR11 3XA

Accountants

Harland Accountants
Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

 

Jarrang Limited

Director's Report for the Year Ended 30 September 2024

The director presents his report and the financial statements for the year ended 30 September 2024.

Director of the company

The director who held office during the year was as follows:

Mr Stafford Sumner

Principal activity

The principal activity of the company is electronic marketing consultancy.

Going concern

The entity is viewed as continuing in business for the foreseeable future with neither the intention nor the necessity of liquidation, ceasing trading or seeking protection from creditors pursuant to laws or regulations.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr Stafford Sumner
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Jarrang Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jarrang Limited for the year ended 30 September 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Jarrang Limited, as a body, in accordance with the terms of our engagement letter dated 29 May 2018. Our work has been undertaken solely to prepare for your approval the accounts of Jarrang Limited and state those matters that we have agreed to state to the Board of Directors of Jarrang Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jarrang Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jarrang Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jarrang Limited. You consider that Jarrang Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Jarrang Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Harland Accountants
Ground Floor, Unit 3 Southview House
St Austell Enterprise Park
Carclaze Down
St Austell
Cornwall
PL25 4EJ

28 November 2024

 

Jarrang Limited

(Registration number: 04715116)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

9,975

12,970

Tangible assets

5

20,743

16,110

Investments

36,000

36,000

 

66,718

65,080

Current assets

 

Debtors

144,866

186,890

Cash at bank and in hand

 

74,388

20,559

 

219,254

207,449

Creditors: Amounts falling due within one year

(225,339)

(228,132)

Net current liabilities

 

(6,085)

(20,683)

Total assets less current liabilities

 

60,633

44,397

Creditors: Amounts falling due after more than one year

(109,386)

(156,265)

Provisions for liabilities

(3,407)

(2,493)

Net liabilities

 

(52,160)

(114,361)

Capital and reserves

 

Called up share capital

88

88

Share premium reserve

988

988

Revaluation reserve

50,822

50,822

Retained earnings

(104,058)

(166,259)

Shareholders' deficit

 

(52,160)

(114,361)

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Jarrang Limited

(Registration number: 04715116)
Balance Sheet as at 30 September 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 November 2024
 

.........................................
Mr Stafford Sumner
Director

 

Jarrang Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Maritime House
Discovery Quay
Falmouth
Cornwall
TR11 3XA
England

These financial statements were authorised for issue by the director on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company has the continued support of the director.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Jarrang Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Asset class

Depreciation method and rate

Short Leasehold

Straight line over the life of the lease

Furniture

Straight line over the life of the lease

Fittings and equipment

20% straight line

Development costs

Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects.
In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

Over 3 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Jarrang Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2023 - 10).

 

Jarrang Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 October 2023

75,240

75,240

At 30 September 2024

75,240

75,240

Amortisation

At 1 October 2023

62,270

62,270

Amortisation charge

2,995

2,995

At 30 September 2024

65,265

65,265

Carrying amount

At 30 September 2024

9,975

9,975

At 30 September 2023

12,970

12,970

 

Jarrang Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Short Leasehold property
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

17,725

99,468

117,193

Additions

-

12,545

12,545

Disposals

-

(1,006)

(1,006)

At 30 September 2024

17,725

111,007

128,732

Depreciation

At 1 October 2023

15,185

85,898

101,083

Charge for the year

2,491

5,108

7,599

Eliminated on disposal

-

(693)

(693)

At 30 September 2024

17,676

90,313

107,989

Carrying amount

At 30 September 2024

49

20,694

20,743

At 30 September 2023

2,540

13,570

16,110