Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-309231054truetruetruefalse2023-07-01falsetruefalse 07054337 2023-07-01 2024-06-30 07054337 2022-07-01 2023-06-30 07054337 2024-06-30 07054337 2023-06-30 07054337 2022-07-01 07054337 1 2023-07-01 2024-06-30 07054337 1 2022-07-01 2023-06-30 07054337 d:CompanySecretary1 2023-07-01 2024-06-30 07054337 d:Director2 2023-07-01 2024-06-30 07054337 d:Director3 2023-07-01 2024-06-30 07054337 d:RegisteredOffice 2023-07-01 2024-06-30 07054337 e:Buildings e:ShortLeaseholdAssets 2023-07-01 2024-06-30 07054337 e:Buildings e:ShortLeaseholdAssets 2024-06-30 07054337 e:Buildings e:ShortLeaseholdAssets 2023-06-30 07054337 e:FurnitureFittings 2023-07-01 2024-06-30 07054337 e:FurnitureFittings 2024-06-30 07054337 e:FurnitureFittings 2023-06-30 07054337 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07054337 e:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 07054337 e:ComputerSoftware 2024-06-30 07054337 e:ComputerSoftware 2023-06-30 07054337 e:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 07054337 e:CurrentFinancialInstruments 2024-06-30 07054337 e:CurrentFinancialInstruments 2023-06-30 07054337 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 07054337 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 07054337 e:ReportableOperatingSegment1 2023-07-01 2024-06-30 07054337 e:ReportableOperatingSegment1 2022-07-01 2023-06-30 07054337 e:UKTax 2023-07-01 2024-06-30 07054337 e:UKTax 2022-07-01 2023-06-30 07054337 e:ShareCapital 2024-06-30 07054337 e:ShareCapital 2023-06-30 07054337 e:ShareCapital 2022-07-01 07054337 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 07054337 e:RetainedEarningsAccumulatedLosses 2024-06-30 07054337 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 07054337 e:RetainedEarningsAccumulatedLosses 2023-06-30 07054337 e:RetainedEarningsAccumulatedLosses 2022-07-01 07054337 e:AcceleratedTaxDepreciationDeferredTax 2024-06-30 07054337 e:AcceleratedTaxDepreciationDeferredTax 2023-06-30 07054337 e:TaxLossesCarry-forwardsDeferredTax 2024-06-30 07054337 e:TaxLossesCarry-forwardsDeferredTax 2023-06-30 07054337 d:OrdinaryShareClass1 2023-07-01 2024-06-30 07054337 d:OrdinaryShareClass1 2024-06-30 07054337 d:OrdinaryShareClass1 2023-06-30 07054337 d:FRS102 2023-07-01 2024-06-30 07054337 d:Audited 2023-07-01 2024-06-30 07054337 d:FullAccounts 2023-07-01 2024-06-30 07054337 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07054337 e:WithinOneYear 2024-06-30 07054337 e:WithinOneYear 2023-06-30 07054337 e:BetweenOneFiveYears 2024-06-30 07054337 e:BetweenOneFiveYears 2023-06-30 07054337 2 2023-07-01 2024-06-30 07054337 7 2023-07-01 2024-06-30 07054337 e:ComputerSoftware e:OwnedIntangibleAssets 2023-07-01 2024-06-30 07054337 f:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07054337










JUNIOR ADVENTURES GROUP UK LTD










ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
COMPANY INFORMATION


Directors
C Jones 
M Clare 




Registered number
07054337



Registered office
5a Millars Brook Business Park
Molly Millars Lane

Wokingham

England

RG41 2AD




Independent auditors
HaysMac LLP

10 Queen Street Place

London

EC4R 1AG





 
JUNIOR ADVENTURES GROUP UK LTD
 

CONTENTS



Page
Strategic Report
1 - 2
Directors' Report
3 - 4
Independent Auditors' Report
5 - 8
Statement of Comprehensive Income
9
Statement of Financial Position
10
Statement of Changes in Equity
11
Notes to the Financial Statements
12 - 24


 
JUNIOR ADVENTURES GROUP UK LTD
 
 
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

Introduction
 
The directors present their Strategic Report and financial statements for the year ended 30 June 2024.

Business review
 
Junior Adventures Group UK Ltd (previously Energy Kidz Ltd), is a wholly owned subsidiary of JAG UK Bidco Limited, and whose ultimate parent is JAG UK Topco Limited. Throughout the year, the business continued to demonstrate organic growth in attendances with the first full year of the rebrand as ‘Junior Adventures Group’, and also via business development.  
Management prioritisation and focus in the year have shown significant improvement on key strategic enablers:
 
People Stability: Absence and Labour Turnover
Recruitment and Retention
Initial integration of newly-acquired fellow subsidiary businesses (Pioneer Childcare Limited and Dawn Until Dusk Ltd) into the JAG UK Group

These initiatives have enabled growth in the number of school and leisure centre settings, and average attendance levels. There has been a steady improvement in people capability and leadership, which in turn has improved the quality of the delivery (96% Ofsted compliance) culminating in much stronger financial performance.

Future developments

The Company continues to follow its strategic objectives of organic attendance growth within existing sites as well as the nationwide launch of new sites as it further entrenches its position as the UK’s leading holiday camp and wraparound childcare provider. Operational efficiencies at both a delivery and support office level continue to be a critical focus for the business. High service quality and product delivery remain the cornerstone of the business model.
Historically the ‘School-Aged Childcare’ sector in the UK has not benefited from long standing funding similar to other markets including Early Years. However, over the past year, the Department of Education has developed and announced a National Wraparound Fund, with a commitment of £289 million over the next 2 years to create new provision and expand spaces in current clubs. This provides Junior Adventures Group with a good opportunity to build capacity, secure funding for existing clubs and provide more spaces for families through investment in workforce and training, as well as providing additional support for Special Educational Needs and Disability (SEND) children.
No other matter or circumstance has arisen since 30 June 2024 that has significantly affected, or may significantly affect the entity's operations, the results of those operations, or the entity's situation in future financial years.

Principal risks and uncertainties
 
The Company's operations are subject to a variety of financial and non-financial risks. Operational risks are mitigated by comprehensive insurance policies in place within each entity. The key financial risk to the business is cash flow, which is monitored regularly by management and further reviewed in detail as part of the monthly reporting process. Cashflows are carefully managed and when necessary, further funds are available through capital raises and group financial support.
Other than the risks identified above, the directors see minimal risk within this area of the business.

Page 1

 
JUNIOR ADVENTURES GROUP UK LTD
 

STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Financial key performance indicators
 
The Company continues to be assessed on a range of KPIs, with primary focus being on revenue, gross profit margin, EBITDA, and EBITDA margin.
 
   Year to  Year to
   30 June 2024 30 June 2023
Revenue   £13,415,820  £12,722,562  
Gross profit margin  38.1%   38.1%  
EBITDA   £544,911  (£290,348) 
EBITDA margin  4.06%   (2.28%) 
Sustainability and corporate social responsibility
The Company is fully aware of its environmental, social, and economic responsibilities to its and those of its employees, shareholders, customers, suppliers and the wider public and will continue to develop and evolve policies and procedures to ensure these responsibilities are met.


This report was approved by the board and signed on its behalf.



................................................
A Crocker
Secretary

Date: 21 March 2025

Page 2

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors' responsibilities statement

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The Company's principal activity is to facilitate child day-care activities.

Results and dividends

The profit for the year, after taxation, amounted to £425,043 (2023: loss £456,601).

Directors

The directors who served during the year were:

C Jones 
M Clare
A Crocker (resigned 5 December 2023)
 

Future developments

The Company has chosen, in accordance with Companies Act 2006, s.414C(11), to set out in the Company's Strategic Report, the information relating to future development and financial risk management.

Page 3

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024

Qualifying third party indemnity provisions

Director's liability and indemnity insurance was in force throughout the year and prior period to cover the directors and officers of the Company against actions brought against them in their personal capacity. Neither the insurance nor the indemnity provide cover where the individual has acted fraudulently or dishonestly.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

On 18 November 2024 the Company’s auditor changed its name from haysmacintyre LLP to HaysMac LLP. 
The auditors, HaysMac LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
A Crocker
Secretary

Date: 21 March 2025

Page 4

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUNIOR ADVENTURES GROUP UK LTD
 

Opinion


We have audited the financial statements of Junior Adventures Group UK LTD (the 'Company') for the year ended 30 June 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 June 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 5

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUNIOR ADVENTURES GROUP UK LTD (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 6

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUNIOR ADVENTURES GROUP UK LTD (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Based on our understanding of the Company and industry, we identified that the principal risks of non- compliance with laws and regulations related to regulatory requirements for the business and trade regulations, and we have considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, income tax, payroll tax and sales tax.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:
 
inspecting correspondence with regulators and tax authorities;
discussion with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
evaluating management's controls designed to prevent and detect irregularities;
identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
challenging assumptions and judgements made by management in their critical accounting estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Page 7

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUNIOR ADVENTURES GROUP UK LTD (CONTINUED)


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Michael Crowson (Senior Statutory Auditor)
for and on behalf of
HaysMac LLP
Statutory Auditors
10 Queen Street Place
London
EC4R 1AG

24 March 2025
Page 8

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

Turnover
 4 
13,415,820
12,722,562

Cost of sales
  
(8,303,405)
(7,877,463)

Gross profit
  
5,112,415
4,845,099

Administrative expenses
  
(4,711,585)
(5,312,278)

Other operating income
 5 
31,430
45,213

Operating profit/(loss)
  
432,260
(421,966)

Interest receivable and similar income
 9 
696
-

Interest payable and similar expenses
 10 
(185)
-

Profit/(loss) before tax
  
432,771
(421,966)

Tax on profit/(loss)
 11 
(7,728)
(34,635)

Profit/(loss) for the financial year
  
425,043
(456,601)

There was no other comprehensive income for 2024 (2023: £nil).

The notes on pages 12 to 24 form part of these financial statements.

Page 9

 
JUNIOR ADVENTURES GROUP UK LTD
REGISTERED NUMBER: 07054337

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 12 
49,524
103,550

Tangible assets
 13 
116,677
92,273

  
166,201
195,823

Current assets
  

Debtors
 14 
2,269,203
2,050,126

Cash at bank and in hand
 15 
374,789
344,935

  
2,643,992
2,395,061

Creditors: amounts falling due within one year
 16 
(2,972,582)
(3,178,316)

Net current liabilities
  
 
 
(328,590)
 
 
(783,255)

Net liabilities
  
(162,389)
(587,432)


Capital and reserves
  

Called up share capital 
 18 
100
100

Profit and loss account
 19 
(162,489)
(587,532)

  
(162,389)
(587,432)


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 March 2025.




................................................
M Clare
Director

The notes on pages 12 to 24 form part of these financial statements.

Page 10

 
JUNIOR ADVENTURES GROUP UK LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
100
(130,931)
(130,831)



Loss for the year
-
(456,601)
(456,601)



At 1 July 2023
100
(587,532)
(587,432)



Profit for the year
-
425,043
425,043


At 30 June 2024
100
(162,489)
(162,389)


The notes on pages 12 to 24 form part of these financial statements.

Page 11

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Junior Adventures Group UK Ltd is a private company, limited by shares, and incorporated in England and Wales. The Company's registered number is 07054337 and registered office address is 5a Millars Brook Business Park, Molly Millars Lane, Wokingham, England, RG41 2AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Panther Topco Pty Ltd as at 30 June 2024 and these financial statements may be obtained from 126-130 Phillip Street, Sydney, New South Wales, Australia.

 
2.3

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of a state other than the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 401 of the Companies Act 2006.

Page 12

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Going concern

The Company has net current liabilities of £328,590 (2023: £783,255) and total net liabilities of £162,389 (2023: £587,432) at the Statement of Financial Position date.
The financial statements have been prepared on a going concern basis which the Director considers to be appropriate for the following reasons.
The Director has performed an evaluation of going concern which is comprised of quantitative and qualitative analyses and includes such factors as current financial condition, and that the intercompany debt will not be recalled within the going concern period.
That assessment is dependant on Junior Adventures Pty Ltd and Panther Topco Pty Ltd providing additional financial support during the going concern assessment period and not recalling intercompany loans. Junior Adventures Pty Ltd and Panther Topco Pty Ltd have indicated their intention to continue to make such funds available as are needed by the Company through the going concern period. As with any company placing reliance on other group entities for financial support, the director acknowledges that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so.
Consequently, the Director is confident that the company will have sufficient funds to continue to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on a going concern basis.

 
2.5

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 13

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 14

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.11

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Computer software
-
5
years

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 15

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Short-term leasehold property
-
33%
straight line
Fixtures and fittings
-
33%
and 50% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Equipment is expensed to profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.14

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.15

Creditors

Short-term creditors are measured at the transaction price.

 
2.16

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 16

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the Company's accounting policies, which are described above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.


4.


Turnover

An analysis of turnover by class of business is as follows:


2024
2023
£
£

Sales
13,415,820
12,722,562


All turnover arose within the United Kingdom.


5.


Other operating income

2024
2023
£
£

Other operating income
31,430
45,213



6.


Operating profit/(loss)

The operating profit/(loss) is stated after charging/(crediting):

2024
2023
£
£

Irrecoverable VAT write off
312,753
365,468

Exchange differences
3,603
1,889

Amortisation of intangible fixed assets
54,026
54,026

Depreciation of tangible fixed assets
58,625
77,592

Research and development expenditure
1,013
-

Donations
3,321
685

Bad debt (reversal)/expense
(93,456)
42,073

Page 17

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2024
2023
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
14,740
13,400


8.


Employees

Staff costs were as follows:


2024
2023
£
£

Wages and salaries
8,696,130
8,665,534

Social security costs
235,198
298,624

Cost of defined contribution scheme
38,364
56,907

8,969,692
9,021,065


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
1,054
923


9.


Interest receivable

2024
2023
£
£


Other interest receivable
696
-


10.


Interest payable and similar expenses

2024
2023
£
£


Bank interest payable
185
-

Page 18

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Taxation


2024
2023
£
£


Current tax on profit/(loss) for the year
-
-

Total current tax
-
-

Deferred tax


Origination and reversal of timing differences
7,728
34,635

Total deferred tax
7,728
34,635

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2023: higher than) the standard rate of corporation tax in the UK of 25% (2023: 20.5%). The differences are explained below:

2024
2023
£
£


Profit/(loss) on ordinary activities before tax
432,771
(421,966)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023: 20.5%)
142,710
(80,174)

Effects of:


Expenses not deductible for tax purposes
1,487
-

Adjustments to tax charge in respect of prior periods
6,875
-

Deferred tax not provided
(243,780)
-

Unrelieved tax losses carried forward
-
114,809

Effects of group relief/other reliefs
100,436
-

Total tax charge for the year
7,728
34,635


Factors that may affect future tax charges

There were no factors that may affect future tax charges.


Page 19

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

12.


Intangible assets




Computer software

£



Cost


At 1 July 2023
157,576



At 30 June 2024

157,576



Amortisation


At 1 July 2023
54,026


Charge for the year
54,026



At 30 June 2024

108,052



Net book value



At 30 June 2024
49,524



At 30 June 2023
103,550



Page 20

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

13.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost


At 1 July 2023
1,934
285,740
287,674


Additions
-
83,590
83,590



At 30 June 2024

1,934
369,330
371,264



Depreciation


At 1 July 2023
1,934
193,467
195,401


Charge for the year
-
59,186
59,186



At 30 June 2024

1,934
252,653
254,587



Net book value



At 30 June 2024
-
116,677
116,677



At 30 June 2023
-
92,273
92,273


14.


Debtors

2024
2023
£
£

Trade debtors
487,781
459,583

Amounts owed by group undertakings
1,351,744
1,110,813

Other debtors
8,152
186,357

Prepayments and accrued income
327,387
184,938

Tax receivable
39,509
46,077

Deferred taxation
54,630
62,358

2,269,203
2,050,126


Amounts owed by group undertakings are interest free, and payable on demand.

Page 21

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

15.


Cash

2024
2023
£
£

Cash at bank and in hand
374,789
344,935



16.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
338,045
271,004

Amounts owed to group undertakings
320,870
77,901

Other taxation and social security
228,741
300,065

Other creditors
614,172
653,697

Accruals and deferred income
1,470,754
1,875,649

2,972,582
3,178,316


Amounts owed to group undertakings are interest free, and payable on demand.


17.


Deferred taxation




2024


£



At beginning of year
62,358


Charged to profit or loss
(7,728)



At end of year
54,630

The deferred tax asset is made up as follows:

2024
2023
£
£


Fixed asset timing differences
1,487
1,926

Short term timing differences - trading
53,143
60,432

54,630
62,358

Page 22

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

18.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023: 100) ordinary shares of £1.00 each
100
100



19.


Reserves

Profit and loss account

Includes accumulated profits and losses less dividends paid.


20.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totalling £154,578 (2022: £162,376) were payable to the fund at the Statement of Financial Position date and are included in other creditors.


21.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
23,615
53,552

Later than 1 year and not later than 5 years
18,902
39,523

42,517
93,075

Page 23

 
JUNIOR ADVENTURES GROUP UK LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

22.


Controlling party

The Company's immediate parent company is JAG UK Bidco Limited, a company incorporated in England and Wales. Its registered office address is 5a Millars Brook Business Park, Molly Millars Lane, Wokingham, England, RG41 2AD.
The smallest group in which the results of the Company are consolidated is that headed by JAG UK Topco Limited, a company incorporated in England and Wales. The consolidated accounts can be obtained from Companies House.
The largest group in which the results of the Company are consolidated is that headed by Panther Topco Pty Ltd, a company incorporated in Australia. Panther TopCo Pty Ltd is the Company's ultimate parent company. The consolidated financial statements can be obtained from its registered office address, which is 126-130 Phillip Street, Sydney, New South Wales, Australia.
The directors confirm there to be no single ultimate controlling party.

Page 24