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Company No: 05560846 (England and Wales)

JSS (SHAFTESBURY) LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

JSS (SHAFTESBURY) LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

JSS (SHAFTESBURY) LIMITED

BALANCE SHEET

As at 30 September 2024
JSS (SHAFTESBURY) LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 3,751 1,331
Investments 5 0 7,726
3,751 9,057
Current assets
Debtors 6 139,433 253,851
Cash at bank and in hand 65,515 42,848
204,948 296,699
Creditors: amounts falling due within one year 7 ( 43,435) ( 55,399)
Net current assets 161,513 241,300
Total assets less current liabilities 165,264 250,357
Net assets 165,264 250,357
Capital and reserves
Called-up share capital 2,000 2,000
Fair value reserve 0 3,828
Profit and loss account 163,264 244,529
Total shareholders' funds 165,264 250,357

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.

Directors' responsibilities:

The financial statements of JSS (Shaftesbury) Limited (registered number: 05560846) were approved and authorised for issue by the Board of Directors on 16 January 2025. They were signed on its behalf by:

T J A Wilson
Director
JSS (SHAFTESBURY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
JSS (SHAFTESBURY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

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.

General information and basis of accounting

JSS (Shaftesbury) 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 6 The Commons, Shaftesbury, Dorset, SP7 8JU, United Kingdom.

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 £.

Turnover

The company recognises turnover earned from acting as estate agents when contracts have been exchanged. Work completed but not invoiced is accrued in the period to which it relates. Turnover is recorded at the value of the consideration due.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 10

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 40,000 40,000
At 30 September 2024 40,000 40,000
Accumulated amortisation
At 01 October 2023 40,000 40,000
At 30 September 2024 40,000 40,000
Net book value
At 30 September 2024 0 0
At 30 September 2023 0 0

4. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 October 2023 24,412 15,995 40,407
Additions 0 3,271 3,271
Disposals ( 9,667) 0 ( 9,667)
At 30 September 2024 14,745 19,266 34,011
Accumulated depreciation
At 01 October 2023 23,372 15,704 39,076
Charge for the financial year 213 137 350
Disposals ( 9,166) 0 ( 9,166)
At 30 September 2024 14,419 15,841 30,260
Net book value
At 30 September 2024 326 3,425 3,751
At 30 September 2023 1,040 291 1,331

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 7,726 7,726
Disposals ( 7,726) ( 7,726)
At 30 September 2024 0 0
Carrying value at 30 September 2024 0 0
Carrying value at 30 September 2023 7,726 7,726

6. Debtors

2024 2023
£ £
Trade debtors 30,075 90,590
Other debtors 109,358 163,261
139,433 253,851

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 7,734 3,436
Corporation tax 4,036 9,479
Other taxation and social security 19,532 34,953
Other creditors 12,133 7,531
43,435 55,399

8. Related party transactions

Transactions with the entity's directors

Advances

The joint directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 per director at the official HMRC rates.

At 1 October 2023, the balance owed by the directors was £92,903. During the year, £82,771 was advanced to the directors, and £117,520 was repaid by the directors. At 30 September 2024, the balance owed by the directors was £58,154.

At 1 October 2022, the balance owed by the directors was £109,198. During the year, £110,985 was advanced to the directors, and £127,280 was repaid by the directors. At 30 September 2023, the balance owed by the directors was £92,903.