Company registration number 08446827 (England and Wales)
THE JUICE ACADEMY LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
THE JUICE ACADEMY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
THE JUICE ACADEMY LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
31 July 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
561
2,629
Current assets
Debtors
5
5,082
66,357
Cash at bank and in hand
708
11,393
5,790
77,750
Creditors: amounts falling due within one year
6
(2,502)
(10,574)
Net current assets
3,288
67,176
Total assets less current liabilities
3,849
69,805
Provisions for liabilities
7
-
0
(41)
Net assets
3,849
69,764
Capital and reserves
Called up share capital
9
118
118
Profit and loss reserves
3,731
69,646
Total equity
3,849
69,764

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 3 March 2025 and are signed on its behalf by:
J Fitchew
Director
Company registration number 08446827 (England and Wales)
THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024
- 2 -
1
Accounting policies
Company information

The Juice Academy Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 25 Water Lane, First Floor, Wilmslow, Cheshire, SK9 5AR.

1.1
Reporting period

During the current period the company changed its accounting reference date to 31 July. These financial statements are for the 17 month period to 31 July 2024. The prior year period represents a 12 month period.

1.2
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 principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. The company can rely on support from their parent entity, Apprentify Group Limited.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for training services provided in the normal course of business, and is shown net of VAT.

1.5
Tangible fixed assets

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

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

Fixtures and fittings
50% per annum on a straight line basis

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

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.

THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss 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 leased asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2023
Number
Number
Total
3
5
3
Dividends
2024
2023
£
£
Interim paid
25,343
-
0
THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2023 and 31 July 2024
3,764
Depreciation and impairment
At 1 March 2023
1,135
Depreciation charged in the period
2,068
At 31 July 2024
3,203
Carrying amount
At 31 July 2024
561
At 28 February 2023
2,629
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
8,640
Unpaid share capital
-
0
118
Other debtors
1,685
8,207
Prepayments and accrued income
-
0
49,392
1,685
66,357
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 8)
3,397
-
0
Total debtors
5,082
66,357
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
525
Amounts owed to group undertakings
500
-
0
Corporation tax
-
0
124
Other creditors
2,002
9,925
2,502
10,574
THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 7 -
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
8
-
0
41
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Balances:
£
£
£
£
Accelerated capital allowances
-
41
-
-
Tax losses
-
-
3,397
-
-
41
3,397
-
2024
Movements in the period:
£
Liability at 1 March 2023
41
Credit to profit or loss
(3,438)
Asset at 31 July 2024
(3,397)

The deferred tax asset set out above is expected to reverse within two years and relates to the utilisation of tax losses against future expected profits of the same period.

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary class A shares of 10p each
860
860
86
86
Ordinary class B shares of 10p each
140
140
14
14
Ordinary class C shares of 10p each
60
60
6
6
Ordinary class D shares of 10p each
60
60
6
6
Ordinary class E shares of 10p each
60
60
6
6
1,180
1,180
118
118
THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 8 -
10
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Christopher Moss BSc F.C.A.
Statutory Auditor:
JS. Audit Limited
Date of audit report:
10 March 2025
THE JUICE ACADEMY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2024
- 9 -
11
Parent company

Since 17 July 2023, the ultimate parent company is Apprentify Group Limited, a company registered in England and Wales. The parent company is preparing consolidated group accounts, which include those of The Juice Academy Ltd. Copies of the consolidated financial statements of Apprentify Group Limited can be obtained from Companies House, Crown Way, Maindy, Cardiff CF14 3UZ.

2024-07-312023-03-01falsefalsefalse10 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityJ FitchewJ BygraveMr P DrewS P GregoryS H HaltonM L HardingH R LeeS LindsayC S R Tattam084468272023-03-012024-07-31084468272024-07-31084468272023-02-2808446827core:OtherPropertyPlantEquipment2024-07-3108446827core:OtherPropertyPlantEquipment2023-02-2808446827core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3108446827core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2808446827core:CurrentFinancialInstruments2024-07-3108446827core:CurrentFinancialInstruments2023-02-2808446827core:ShareCapital2024-07-3108446827core:ShareCapital2023-02-2808446827core:RetainedEarningsAccumulatedLosses2024-07-3108446827core:RetainedEarningsAccumulatedLosses2023-02-2808446827core:ShareCapitalOrdinaryShares2024-07-3108446827core:ShareCapitalOrdinaryShares2023-02-2808446827bus:Director12023-03-012024-07-3108446827core:FurnitureFittings2023-03-012024-07-31084468272022-03-012023-02-2808446827core:OtherPropertyPlantEquipment2023-02-2808446827core:OtherPropertyPlantEquipment2023-03-012024-07-3108446827core:Non-currentFinancialInstruments2024-07-3108446827core:Non-currentFinancialInstruments2023-02-2808446827bus:PrivateLimitedCompanyLtd2023-03-012024-07-3108446827bus:SmallCompaniesRegimeForAccounts2023-03-012024-07-3108446827bus:FRS1022023-03-012024-07-3108446827bus:Audited2023-03-012024-07-3108446827bus:Director22023-03-012024-07-3108446827bus:Director32023-03-012024-07-3108446827bus:Director42023-03-012024-07-3108446827bus:Director52023-03-012024-07-3108446827bus:Director62023-03-012024-07-3108446827bus:Director72023-03-012024-07-3108446827bus:Director82023-03-012024-07-3108446827bus:CompanySecretary12023-03-012024-07-3108446827bus:FullAccounts2023-03-012024-07-31xbrli:purexbrli:sharesiso4217:GBP