Silverfin false false 30/06/2024 01/07/2023 30/06/2024 B Anglesea 15/07/2022 N Lewis 15/07/2022 06 September 2024 The company's principal activity during the year continued to be that of web design, internet marketing and e-commerce. 06647307 2024-06-30 06647307 bus:Director1 2024-06-30 06647307 bus:Director2 2024-06-30 06647307 2023-06-30 06647307 core:CurrentFinancialInstruments 2024-06-30 06647307 core:CurrentFinancialInstruments 2023-06-30 06647307 core:Non-currentFinancialInstruments 2024-06-30 06647307 core:Non-currentFinancialInstruments 2023-06-30 06647307 core:ShareCapital 2024-06-30 06647307 core:ShareCapital 2023-06-30 06647307 core:RetainedEarningsAccumulatedLosses 2024-06-30 06647307 core:RetainedEarningsAccumulatedLosses 2023-06-30 06647307 core:PlantMachinery 2023-06-30 06647307 core:Vehicles 2023-06-30 06647307 core:PlantMachinery 2024-06-30 06647307 core:Vehicles 2024-06-30 06647307 2023-07-01 2024-06-30 06647307 bus:FilletedAccounts 2023-07-01 2024-06-30 06647307 bus:SmallEntities 2023-07-01 2024-06-30 06647307 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 06647307 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06647307 bus:Director1 2023-07-01 2024-06-30 06647307 bus:Director2 2023-07-01 2024-06-30 06647307 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 06647307 core:Vehicles core:TopRangeValue 2023-07-01 2024-06-30 06647307 2022-07-01 2023-06-30 06647307 core:PlantMachinery 2023-07-01 2024-06-30 06647307 core:Vehicles 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Company No: 06647307 (England and Wales)

JUST INTERNET SOLUTIONS LTD

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

JUST INTERNET SOLUTIONS LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

JUST INTERNET SOLUTIONS LTD

BALANCE SHEET

As at 30 June 2024
JUST INTERNET SOLUTIONS LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 56,784 12,959
56,784 12,959
Current assets
Stocks 6,500 6,500
Debtors 4 344,231 332,359
Cash at bank and in hand 135,861 67,883
486,592 406,742
Creditors: amounts falling due within one year 5 ( 196,945) ( 116,203)
Net current assets 289,647 290,539
Total assets less current liabilities 346,431 303,498
Creditors: amounts falling due after more than one year 6 ( 264,367) ( 250,333)
Provision for liabilities 7 ( 5,281) 0
Net assets 76,783 53,165
Capital and reserves
Called-up share capital 100 100
Profit and loss account 76,683 53,065
Total shareholder's funds 76,783 53,165

For the financial year ending 30 June 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 Just Internet Solutions Ltd (registered number: 06647307) were approved and authorised for issue by the Board of Directors on 06 September 2024. They were signed on its behalf by:

B Anglesea
Director
JUST INTERNET SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
JUST INTERNET SOLUTIONS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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

Just Internet Solutions 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 Rodney House Suite 46-54 Rodney House, King Street, Wigan, WN1 1BT, 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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Employee benefits

Short term 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 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 as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are hold separately from those of the company in an independently administered fund.

Taxation

Current tax
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measures using tax rates that have been enacted or substantively enacted by the reporting period.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligations to pay more tax, or a right to pay less tax, or a right to receive repayments of tax.

Tangible fixed assets

Tangible fixed assets are stated 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 than their residual values over their useful lives on the following bases:

Plant and machinery 5 years straight line
Vehicles 4 years straight line

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

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.

Basic 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, including trade and other creditors, bank loans, loans form 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.

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

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

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 directors 15 17

3. Tangible assets

Plant and machinery Vehicles Total
£ £ £
Cost
At 01 July 2023 38,871 0 38,871
Additions 11,199 43,490 54,689
At 30 June 2024 50,070 43,490 93,560
Accumulated depreciation
At 01 July 2023 25,912 0 25,912
Charge for the financial year 9,188 1,676 10,864
At 30 June 2024 35,100 1,676 36,776
Net book value
At 30 June 2024 14,970 41,814 56,784
At 30 June 2023 12,959 0 12,959

4. Debtors

2024 2023
£ £
Trade debtors 39,240 21,944
Amounts owed by Group undertakings 282,000 285,833
Other debtors 22,991 24,582
344,231 332,359

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 58,031 60,000
Trade creditors 4,655 3,307
Taxation and social security 111,877 48,632
Obligations under finance leases and hire purchase contracts 6,152 0
Other creditors 16,230 4,264
196,945 116,203

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

2024 2023
£ £
Bank loans 230,255 250,333
Obligations under finance leases and hire purchase contracts 34,112 0
264,367 250,333

7. Provision for liabilities

2024 2023
£ £
Deferred tax 5,281 0

8. Related party transactions

Other related party transactions

As at 30 June 2024 the company owed its parent company, Bang Digital UK Limited, £282,000 (2023:£nil).