Company registration number 06579409 (England and Wales)
JSB UK AND IRELAND LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
JSB UK AND IRELAND LTD
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
JSB UK AND IRELAND LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
30 September 2024
31 March 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,309
33,234
Tangible assets
4
177,737
175,603
186,046
208,837
Current assets
Stocks
531,065
480,495
Debtors
5
321,999
1,506,161
Cash at bank and in hand
15,985
11,326
869,049
1,997,982
Creditors: amounts falling due within one year
6
(1,593,885)
(2,187,365)
Net current liabilities
(724,836)
(189,383)
Total assets less current liabilities
(538,790)
19,454
Provisions for liabilities
(26,612)
(31,179)
Net liabilities
(565,402)
(11,725)
Capital and reserves
Called up share capital
125
125
Profit and loss reserves
(565,527)
(11,850)
Total equity
(565,402)
(11,725)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial 18 months ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the 18 months in question in accordance with section 476.

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

JSB UK AND IRELAND LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 May 2025 and are signed on its behalf by:
W M Van Raalte
Director
Company Registration No. 06579409
JSB UK AND IRELAND LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 April 2022
125
243,117
243,242
Year ended 31 March 2023:
Loss and total comprehensive income for the year
-
(244,967)
(244,967)
Own shares acquired
-
(10,000)
(10,000)
Balance at 31 March 2023
125
(11,850)
(11,725)
Period ended 30 September 2024:
Loss and total comprehensive income for the period
-
(553,677)
(553,677)
Balance at 30 September 2024
125
(565,527)
(565,402)
JSB UK AND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

JSB UK and Ireland Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite G18 The Innovation Centre, 1 Devon Way, Birmingham, United Kingdom, B31 2TS.

1.1
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.

1.2
Going concern

The company is dependent on the continued support of the parent company. The parent company does not have any intention to remove its support for a period of at least 12 months from the date on which the balance sheet was signed. Atruet the time of approving the financial statements, and taking into consideration the continued parent company support, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, contract value, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.5
Intangible fixed assets other than goodwill

Development expenditure is the cost of research and development of the identifiable asset.

Amortisation 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:

Development costs
5 years
JSB UK AND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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:

Demo equipment
20% straight line
Fixtures and fittings
20% straight line
Computers
20% straight line
Motor vehicles
20% straight line
Service equipment
20% 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.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.

 

1.8
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.

1.9
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.

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. Financial assets classified as receivable within one year are not amortised.

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.

JSB UK AND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
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.

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 income statement 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.

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 income statement, 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
Retirement benefits

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

JSB UK AND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 7 -
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 leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.14

Related party exemption

The company has taken advantage of exemption, under the provisions of section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other 100% group companies.

2
Employees

The average monthly number of persons (including directors) employed by the company during the 18 months was:

2024
2023
Number
Number
Total
6
5
3
Intangible fixed assets
Development costs
£
Cost
At 1 April 2023 and 30 September 2024
316,008
Amortisation and impairment
At 1 April 2023
282,774
Amortisation charged for the 18 months
24,925
At 30 September 2024
307,699
Carrying amount
At 30 September 2024
8,309
At 31 March 2023
33,234
JSB UK AND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
- 8 -
4
Tangible fixed assets
Demo equipment
Fixtures and fittings
Computers
Motor vehicles
Service equipment
Total
£
£
£
£
£
£
Cost
At 1 April 2023
158,134
17,476
12,993
58,660
65,056
312,319
Additions
110,945
3,767
1,545
-
0
1,374
117,631
Disposals
(64,217)
-
0
-
0
-
0
-
0
(64,217)
At 30 September 2024
204,862
21,243
14,538
58,660
66,430
365,733
Depreciation and impairment
At 1 April 2023
35,488
15,898
9,435
11,929
63,966
136,716
Depreciation charged in the 18 months
58,742
1,670
1,473
17,598
1,069
80,552
Eliminated in respect of disposals
(29,272)
-
0
-
0
-
0
-
0
(29,272)
At 30 September 2024
64,958
17,568
10,908
29,527
65,035
187,996
Carrying amount
At 30 September 2024
139,904
3,675
3,630
29,133
1,395
177,737
At 31 March 2023
122,646
1,578
3,558
46,731
1,090
175,603
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
255,858
1,218,717
Gross amounts owed by contract customers
-
0
206,403
Other debtors
6,924
-
0
Prepayments and accrued income
59,217
81,041
321,999
1,506,161
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
1,462,168
1,557,233
Trade creditors
70,672
174,214
Corporation tax
-
0
7,331
Other taxation and social security
6,752
136,794
Other creditors
10,001
10,000
Accruals and deferred income
44,292
301,793
1,593,885
2,187,365
JSB UK AND IRELAND LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 18 MONTHS ENDED 30 SEPTEMBER 2024
- 9 -
7
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
9,455
8,520

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
5,987
5,244
9
Parent company

The company considers that Labizz Management BV, a company registered at Tramstaat 15, 5611 CM Eindhoven, Netherlands, to be the ultimate parent company by virtue of its 100% shareholding.

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