Company Registration No. 12693226 (England and Wales)
JDP Jungle Limited
Unaudited financial statements
for the year ended 30 June 2024
Pages for filing with the registrar
JDP Jungle Limited
Contents
Page
Accountants' report
1
Statement of financial position
2
Notes to the financial statements
3 - 7
JDP Jungle Limited
Accountants' report to the Board of Directors on the preparation of the unaudited statutory financial statements of JDP Jungle Limited for the year ended 30 June 2024
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JDP Jungle Limited for the year ended 30 June 2024 set out on pages 2 to 7 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulation.
This report is made solely to the Board of Directors of JDP Jungle Limited, as a body, in accordance with the terms of our engagement letter dated 31 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of JDP Jungle Limited and state those matters that we have agreed to state to the Board of Directors of JDP Jungle Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JDP Jungle Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that JDP Jungle Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JDP Jungle Limited. You consider that JDP Jungle Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of JDP Jungle Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
5 June 2025
JDP Jungle Limited
Statement of financial position
As at 30 June 2024
30 June 2024
2
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
756,278
101,687
Cash at bank and in hand
3,248
545,975
759,526
647,662
Creditors: amounts falling due within one year
6
(60,094)
(46,672)
Net current assets
699,432
600,990
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
699,431
600,989
Total equity
699,432
600,990
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 June 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 members have not required the company to obtain an audit of its financial statements for the year 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.
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:
Mr John Downer
Director
Company Registration No. 12693226
JDP Jungle Limited
Notes to the financial statements
For the year ended 30 June 2024
3
1
Accounting policies
Company information
JDP Jungle Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Barn, Kennel Lodge Road, Bower Ashton, Bristol, BS3 2JT.
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 £1.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue from television productions 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
1.3
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.
1.4
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.
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.
JDP Jungle Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
1
Accounting policies (continued)
4
Basic financial assets
Basic financial assets, which include debtors, 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. 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.
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.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
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. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. 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.
JDP Jungle Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
5
2
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
High end television tax credit
The key accounting estimate within the financial statements for this Company is the valuation of the high end television tax credit available. The estimate is based on the assessment of the value of qualifying expenditure as per HMRC legislations and guidance plus assessment of the qualification of the underlying production as eligible for the tax relief.
In the director's opinion, there were no other critical judgements or other estimation uncertainties in these financial statements.
3
Employees
The company has no employees. Production staff costs are recharged to the company by its parent.
2024
2023
Number
Number
Total
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
(113,527)
(315,191)
Adjustments in respect of prior periods
(872,021)
Total current tax
(985,548)
(315,191)
JDP Jungle Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
4
Taxation (continued)
6
The actual credit for the year can be reconciled to the expected (credit)/charge for the year based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
(Loss)/profit before taxation
(887,107)
156,444
Expected tax (credit)/charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
(221,777)
29,724
Other permanent differences
(77,459)
Enhanced losses arising from the television tax credit
20,913
Tax credits claimed in prior years
(871,464)
(315,191)
Losses carried forward
86,780
47,735
Taxation credit for the year
(985,548)
(315,191)
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
717,546
Other debtors
38,732
101,687
756,278
101,687
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,296
10,973
Amounts owed to group undertakings
10,000
3,198
Other creditors
48,798
32,501
60,094
46,672
7
Related party transactions
The company has taken advantage of the exemption under paragraph 33.1a of FRS 102 from disclosing transactions entered into between two or more members of a group, where any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.
The company has also taken advantage of the exemption under paragraph 1AC.35 of FRS 102 from disclosing transactions with related parties that have been carried out on an arm's length basis.
JDP Jungle Limited
Notes to the financial statements (continued)
For the year ended 30 June 2024
7
8
Parent company
The company's immediate parent is John Downer Productions Limited, a company registered in England and Wales.
The directors do not consider there to be an ultimate controlling party.