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Company No: 12011354 (England and Wales)

JURASSIC BEES LTD
(Formerly ICA Electrical Services Limited)

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

JURASSIC BEES LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

JURASSIC BEES LTD

BALANCE SHEET

As at 31 May 2024
JURASSIC BEES LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 2,046 0
Tangible assets 4 30,095 84,222
32,141 84,222
Current assets
Stocks 0 30,000
Debtors 5 4,821 57,138
Cash at bank and in hand 3,556 967
8,377 88,105
Creditors: amounts falling due within one year 6 ( 79,034) ( 104,837)
Net current liabilities (70,657) (16,732)
Total assets less current liabilities (38,516) 67,490
Creditors: amounts falling due after more than one year 7 ( 11,111) ( 23,520)
Provision for liabilities 0 ( 26,825)
Net (liabilities)/assets ( 49,627) 17,145
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 49,727 ) 17,045
Total shareholders' (deficit)/funds ( 49,627) 17,145

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Jurassic Bees Ltd (registered number: 12011354) were approved and authorised for issue by the Director on 21 February 2025. They were signed on its behalf by:

Mr C E Taylor
Director
JURASSIC BEES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
JURASSIC BEES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 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

Jurassic Bees Ltd (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 2 Chilbury Gardens, Owermoigne, Dorchester, DT2 8HR, 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 £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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:

Other intangible assets 5 years straight line
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:

Plant and machinery 15 % reducing balance
5 years straight line
Vehicles 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Office 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.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 June 2023 0 0
Additions 2,232 2,232
At 31 May 2024 2,232 2,232
Accumulated amortisation
At 01 June 2023 0 0
Charge for the financial year 186 186
At 31 May 2024 186 186
Net book value
At 31 May 2024 2,046 2,046
At 31 May 2023 0 0

4. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 June 2023 69,621 42,941 1,000 8,084 121,646
Disposals ( 62,185) 0 ( 1,000) ( 4,295) ( 67,480)
At 31 May 2024 7,436 42,941 0 3,789 54,166
Accumulated depreciation
At 01 June 2023 21,505 12,204 59 3,656 37,424
Charge for the financial year 7,172 4,611 141 1,854 13,778
Disposals ( 24,289) 0 ( 200) ( 2,642) ( 27,131)
At 31 May 2024 4,388 16,815 0 2,868 24,071
Net book value
At 31 May 2024 3,048 26,126 0 921 30,095
At 31 May 2023 48,116 30,737 941 4,428 84,222

5. Debtors

2024 2023
£ £
Trade debtors 0 54,364
Other debtors 4,821 2,774
4,821 57,138

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 2,223 2,222
Other taxation and social security 3,223 15,749
Obligations under finance leases and hire purchase contracts 10,186 3,285
Other creditors 63,402 83,581
79,034 104,837

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 11,111 13,334
Obligations under finance leases and hire purchase contracts 0 10,186
11,111 23,520

There are no amounts included above in respect of which any security has been given by the small entity.

8. Related party transactions

During the year the director maintained an interest free loan which is repayable on demand. At the balance sheet date the amount due to the director was £61,765 (2023 - £74,987).