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Registered Number: 10349177
England and Wales

 

 

 

JRS FUTURES LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 238,800    253,725 
Tangible fixed assets 4 53,690    55,041 
292,490    308,766 
Current assets      
Stocks 5 67,006    60,685 
Debtors 6 192,173    189,561 
Cash at bank and in hand 122,828    163,828 
382,007    414,074 
Creditors: amount falling due within one year 7 (333,294)   (501,784)
Net current assets 48,713    (87,710)
 
Total assets less current liabilities 341,203    221,056 
Provisions for liabilities 8 (16,018)   (14,577)
Net assets 325,185    206,479 
 

Capital and reserves
     
Called up share capital 300    300 
Profit and loss account 324,885    206,179 
Shareholders' funds 325,185    206,479 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 27 June 2025 and were signed on its behalf by:


-------------------------------
Mr J Wong
Director
1
General Information
JRS Futures Ltd is a private company, limited by shares, registered in England and Wales, registration number 10349177, registration address 2 Manor Court, Manor Mill Lane, Leeds, LS11 8LQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 20 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 15% Straight Line
Fixtures and Fittings 15% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 18 (2023 : 18).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 October 2023 298,500    298,500 
Additions  
Disposals  
At 30 September 2024 298,500    298,500 
Amortisation
At 01 October 2023 44,775    44,775 
Charge for year 14,925    14,925 
On disposals  
At 30 September 2024 59,700    59,700 
Net book values
At 30 September 2024 238,800    238,800 
At 30 September 2023 253,725    253,725 


4.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Land and Buildings   Total
  £   £   £   £
At 01 October 2023   89,819    1,962    91,781 
Additions 8,491    2,405      10,896 
Disposals   (3,260)     (3,260)
At 30 September 2024 8,491    88,964    1,962    99,417 
Depreciation
At 01 October 2023   35,858    882    36,740 
Charge for year 1,274    8,039    162    9,475 
On disposals   (488)     (488)
At 30 September 2024 1,274    43,409    1,044    45,727 
Net book values
Closing balance as at 30 September 2024 7,217    45,555    918    53,690 
Opening balance as at 01 October 2023   53,961    1,080    55,041 

The net book value of Land and Buildings includes £ 918 (2023 £1,080) in respect of assets leased under finance leases or hire purchase contracts.

5.

Stocks

2024
£
  2023
£
Stocks 67,006    60,685 
67,006    60,685 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 148,272    140,255 
Other Debtors 43,901    49,306 
192,173    189,561 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 170,548    170,690 
Taxation and Social Security 63,581    57,446 
Other Creditors 99,165    273,648 
333,294    501,784 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 13,193    13,490 
Pension Provisions 2,825    1,087 
16,018    14,577 

9.

Control Note

The company is controlled by the shareholders
2