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Registration number: 08665799

JBSI Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

JBSI Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

JBSI Limited

Company Information

Director

Mr BD Simpson

Registered office

2 Thorp House
Thorp Street
Macclesfield
SK10 1LJ

 

JBSI Limited

(Registration number: 08665799)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

903,713

1,043,967

Tangible assets

5

124,985

127,352

Other financial assets

6

160,000

162,749

 

1,188,698

1,334,068

Current assets

 

Stocks

7

388

139,642

Debtors

8

48,544

193,103

Cash at bank and in hand

 

122,122

24,606

 

171,054

357,351

Creditors: Amounts falling due within one year

9

(580,042)

(645,765)

Net current liabilities

 

(408,988)

(288,414)

Total assets less current liabilities

 

779,710

1,045,654

Creditors: Amounts falling due after more than one year

9

(7,500)

(17,500)

Provisions for liabilities

(2,321)

(2,506)

Net assets

 

769,889

1,025,648

Capital and reserves

 

Called up share capital

10

1

1

Retained earnings

769,888

1,025,647

Shareholders' funds

 

769,889

1,025,648

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

JBSI Limited

(Registration number: 08665799)
Balance Sheet as at 31 August 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 August 2025
 

.........................................
Mr BD Simpson
Director

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Thorp House
Thorp Street
Macclesfield
SK10 1LJ

These financial statements were authorised for issue by the director on 20 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

20% on cost

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 September 2023

1,071,898

1,071,898

Revaluations

(633,048)

(633,048)

Additions acquired separately

464,863

464,863

At 31 August 2024

903,713

903,713

Amortisation

Carrying amount

At 31 August 2024

903,713

903,713

At 31 August 2023

1,043,967

1,043,967

Intangible assets carried at revalued amounts

The fair value of the company's Crypto currency was revalued on 31 August 2024. An independent valuer was not involved.
The Crypto currency was valued by the director at the current market value.
Had this class of asset been measured on a historical cost basis, their carrying amount would have been £1,536,761 (2023 - £1,071,898).

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 September 2023

115,702

1,102

22,690

139,494

Additions

-

-

800

800

At 31 August 2024

115,702

1,102

23,490

140,294

Depreciation

At 1 September 2023

-

441

11,701

12,142

Charge for the year

-

220

2,947

3,167

At 31 August 2024

-

661

14,648

15,309

Carrying amount

At 31 August 2024

115,702

441

8,842

124,985

At 31 August 2023

115,702

661

10,989

127,352

Included within the net book value of land and buildings above is £115,702 (2023 - £115,702) in respect of freehold land and buildings.
 

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

162,749

162,749

Revaluations

(18,699)

(18,699)

Additions

15,950

15,950

At 31 August 2024

160,000

160,000

Impairment

Carrying amount

At 31 August 2024

160,000

160,000

7

Stocks

2024
£

2023
£

Other inventories

388

139,642

8

Debtors

Current

2024
£

2023
£

Trade debtors

43,345

193,103

Other debtors

5,199

-

 

48,544

193,103

9

Creditors

Creditors: amounts falling due within one year

 

JBSI Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11

10,000

10,000

Trade creditors

 

112,478

329,003

Taxation and social security

 

421,786

268,040

Accruals and deferred income

 

4,478

4,097

Other creditors

 

31,300

34,625

 

580,042

645,765

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

7,500

17,500

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

11

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,500

17,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000