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Company No: 07236245 (England and Wales)

JSS (EXETER) LIMITED

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

JSS (EXETER) LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

JSS (EXETER) LIMITED

BALANCE SHEET

As at 31 December 2024
JSS (EXETER) LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 0 1,145
0 1,145
Current assets
Stocks 5 1,250 1,250
Debtors 6 44,468 20,266
Cash at bank and in hand 42,852 136,954
88,570 158,470
Creditors: amounts falling due within one year 7 ( 23,718) ( 41,137)
Net current assets 64,852 117,333
Total assets less current liabilities 64,852 118,478
Creditors: amounts falling due after more than one year 8 ( 18,285) ( 22,170)
Net assets 46,567 96,308
Capital and reserves
Called-up share capital 9 650 650
Capital redemption reserve 350 350
Profit and loss account 45,567 95,308
Total shareholder's funds 46,567 96,308

For the financial year ending 31 December 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 JSS (Exeter) Limited (registered number: 07236245) were approved and authorised for issue by the Director on 14 March 2025. They were signed on its behalf by:

Mr R C Addington
Director
JSS (EXETER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
JSS (EXETER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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 (Exeter) 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 and principal place of business is 13 Southernhay West, Exeter, EX1 1PJ, England, 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. There are no material departures from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.

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.

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 combination 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. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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 basis over its expected useful life, as follows:

Fixtures and fittings 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.

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.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 362,926 362,926
At 31 December 2024 362,926 362,926
Accumulated amortisation
At 01 January 2024 362,926 362,926
At 31 December 2024 362,926 362,926
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 January 2024 24,043 24,043
At 31 December 2024 24,043 24,043
Accumulated depreciation
At 01 January 2024 22,898 22,898
Charge for the financial year 1,145 1,145
At 31 December 2024 24,043 24,043
Net book value
At 31 December 2024 0 0
At 31 December 2023 1,145 1,145

5. Stocks

2024 2023
£ £
Stocks 1,250 1,250

6. Debtors

2024 2023
£ £
Trade debtors 15,957 1,380
Other debtors 28,511 18,886
44,468 20,266

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,886 3,790
Trade creditors 8,980 11,149
Taxation and social security 4,386 20,088
Other creditors 6,466 6,110
23,718 41,137

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

2024 2023
£ £
Bank loans 18,285 22,170

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

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
550 B ordinary shares of £ 1.00 each 550 550
100 C ordinary shares of £ 1.00 each 100 100
650 650

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 17,500 17,500
between one and five years 21,875 39,375
39,375 56,875

11. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Advances to director 22,953 13,762

Interest is charged on the loan at a rate of 2.25% and the loan is repayable on demand. The maximum balance owed during the year was £46,802 (2023 - £51,075)