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Company registration number: 07013759
Jove International Limited
Unaudited filleted financial statements
30 September 2024
Jove International Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Jove International Limited
Directors and other information
Directors John R Leigh
Michael Stephen Sherwin
Rachelle Victoria Biernacka
Secretary J R Leigh
Company number 07013759
Registered office 4th Floor
58-59 Great Marlborough Street
London
W1F 7JY
Business address Ground Floor
Union Building, 78 Cornhill
London
EC3V 3QQ
Accountants B.G. Partnership
4th Floor
58-59 Great Marlborough Street
London
W1F 7JY
Jove International Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 94,320 97,646
_______ _______
94,320 97,646
Current assets
Debtors 6 1,812,793 766,771
Cash at bank and in hand 2,924,434 2,687,122
_______ _______
4,737,227 3,453,893
Creditors: amounts falling due
within one year 7 ( 1,387,505) ( 1,132,298)
_______ _______
Net current assets 3,349,722 2,321,595
_______ _______
Total assets less current liabilities 3,444,042 2,419,241
Provisions for liabilities 8 ( 16,792) ( 16,445)
_______ _______
Net assets 3,427,250 2,402,796
_______ _______
Capital and reserves
Called up share capital 900 900
Profit and loss account 3,426,350 2,401,896
_______ _______
Shareholders funds 3,427,250 2,402,796
_______ _______
For the 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.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 November 2024 , and are signed on behalf of the board by:
Rachelle Victoria Biernacka Michael Stephen Sherwin
Director Director
Company registration number: 07013759
Jove International Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.Revenues earned under permanent contracts are recognised at the inceptionof the assignments.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Life of lease
Fittings fixtures and equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 27 (2023: 25 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 October 2023 90,121 77,526 167,647
Additions 8,809 22,678 31,487
_______ _______ _______
At 30 September 2024 98,930 100,204 199,134
_______ _______ _______
Depreciation
At 1 October 2023 4,506 65,495 70,001
Charge for the year 19,879 14,934 34,813
_______ _______ _______
At 30 September 2024 24,385 80,429 104,814
_______ _______ _______
Carrying amount
At 30 September 2024 74,545 19,775 94,320
_______ _______ _______
At 30 September 2023 85,615 12,031 97,646
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 1,798,931 764,507
Other debtors 13,862 2,264
_______ _______
1,812,793 766,771
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 349,760 384,095
Social security and other taxes 162,923 87,612
Other creditors 874,822 660,591
_______ _______
1,387,505 1,132,298
_______ _______
8. Provisions
Deferred tax (note 9) Total
£ £
At 1 October 2023 16,444 16,444
Charges against provisions 348 348
_______ _______
At 30 September 2024 16,792 16,792
_______ _______
9. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 8) 16,792 16,445
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 16,792 16,445
_______ _______
10. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 123,864 92,763
Later than 1 year and not later than 5 years 329,824 453,508
_______ _______
453,688 546,271
_______ _______