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Company No: 05256810 (England and Wales)

JUMBOCRUISER LIMITED

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

JUMBOCRUISER LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

JUMBOCRUISER LIMITED

BALANCE SHEET

As at 31 December 2024
JUMBOCRUISER LIMITED

BALANCE SHEET (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 14,412
Tangible assets 4 1,983,517 2,329,916
1,983,517 2,344,328
Current assets
Stocks 84,375 112,500
Debtors 5 604,869 341,540
Investments 103,377 112,578
Cash at bank and in hand 303,328 518,868
1,095,949 1,085,486
Creditors: amounts falling due within one year 6 ( 685,562) ( 1,111,073)
Net current assets/(liabilities) 410,387 (25,587)
Total assets less current liabilities 2,393,904 2,318,741
Creditors: amounts falling due after more than one year 7 ( 57,806) ( 58,265)
Provision for liabilities 110,549 153,058
Net assets 2,446,647 2,413,534
Capital and reserves
Called-up share capital 8 1,200 1,200
Profit and loss account 2,445,447 2,412,334
Total shareholders' funds 2,446,647 2,413,534

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.

Directors' responsibilities:

The financial statements of Jumbocruiser Limited (registered number: 05256810) were approved and authorised for issue by the Board of Directors on 29 April 2025. They were signed on its behalf by:

Mr S A Lee
Director
JUMBOCRUISER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
JUMBOCRUISER 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

Jumbocruiser 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 is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

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, returns, rebates and discounts, and after eliminating sales within the company.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- It is probable that future economic benefits will flow to the entity;
- And specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 20 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 20 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 or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 15 % reducing balance
Vehicles 10 years straight line
Office equipment 25 % reducing balance

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

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.

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

Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 16 20

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 January 2024 346,000 346,000
At 31 December 2024 346,000 346,000
Accumulated amortisation
At 01 January 2024 331,588 331,588
Charge for the financial year 14,412 14,412
At 31 December 2024 346,000 346,000
Net book value
At 31 December 2024 0 0
At 31 December 2023 14,412 14,412

4. Tangible assets

Land and buildings Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 January 2024 25,420 45,401 5,699,461 6,479 5,776,761
Additions 0 0 85,641 2,666 88,307
At 31 December 2024 25,420 45,401 5,785,102 9,145 5,865,068
Accumulated depreciation
At 01 January 2024 25,420 21,898 3,395,286 4,241 3,446,845
Charge for the financial year 0 3,527 430,327 852 434,706
At 31 December 2024 25,420 25,425 3,825,613 5,093 3,881,551
Net book value
At 31 December 2024 0 19,976 1,959,489 4,052 1,983,517
At 31 December 2023 0 23,503 2,304,175 2,238 2,329,916

5. Debtors

2024 2023
£ £
Trade debtors 537,606 280,105
Other debtors 67,263 61,435
604,869 341,540

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 42,649 439,739
Trade creditors 34,426 47,774
Other taxation and social security 27,427 35,519
Obligations under finance leases and hire purchase contracts (secured) 58,256 85,195
Other creditors 522,804 502,846
685,562 1,111,073

Hire purchase liabilities are secured over the assets they are taken out for.

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

2024 2023
£ £
Other loans 57,806 0
Obligations under finance leases and hire purchase contracts (secured) 0 58,265
57,806 58,265

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,200 Ordinary shares of £ 1.00 each 1,200 1,200