Jellyfish Solutions Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 05780639

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		702		179

			702		179
CURRENT ASSETS
Stocks	5	-		7,668
Debtors	6	68,408		50,817
Cash at bank and in hand		3,895		3,954

		72,303		62,439
Creditors: Amounts Falling Due Within One Year	7	(1,028,508 )		(1,796,062 )

NET CURRENT ASSETS (LIABILITIES)			(956,205 )		(1,733,623 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(955,503 )		(1,733,444 )

Creditors: Amounts Falling Due After More Than One Year	8		(31,818 )		(95,455 )

NET LIABILITIES			(987,321 )		(1,828,899 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			(987,421 )		(1,828,999 )

SHAREHOLDERS' FUNDS			(987,321)		(1,828,899)

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Jellyfish Solutions Limited

Balance Sheet (continued)

As At 31 December 2024

For the 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.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Richard Ankers

Director

30/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Jellyfish Solutions Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05780639 . The registered office is The Barn Calcot Mount, Calcot Lane, Curdridge, Hampshire, SO32 2BN.

On 7 September 2020, the company entered into a Company Voluntary Arrangement (CVA) with its creditors to restructure its liabilities. The CVA was put in place to allow the company to continue trading while settling its debts over an agreed period.

The CVA was approved by the majority of creditors and has been in effect since its approval. The CVA required the company to make regular payments towards the settlement of its outstanding liabilities.

As at 31 December 2024, the amount of Nil (2023: £1,089,818) was included in other creditors, representing the outstanding balance of the debts subject to the CVA. The company has continued to make payments under the CVA terms, and the arrangement was settled in July 2024.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

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 £.

2.2. Going Concern Disclosure

The financial statements have been prepared on a going concern basis. The directors have considered the company’s current financial position and have assessed the ability of the company to meet its obligations as they fall due.

The successful completion of the CVA in July 2024 has resulted in the discharge of the remaining liabilities under the arrangement. The directors are confident that the company will continue to operate as a going concern.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment

33% Straight Line

2.5. Stocks and Work in Progress

Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

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Jellyfish Solutions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.7. Recharging of Expenses

During its operations, the business incurs expenses on behalf of other entities within the group, which are subsequently recharged at cost. These recharges primarily arise due to administrative errors where invoices have been initially directed to the incorrect entity.

To ensure that the financial statements present a true and fair view without overstating the revenue or expenses of any individual entity, recharged expenses are netted off in the profit and loss account. Specifically, the expense initially recorded in the entity that received the invoice in error is offset by the corresponding recharge to the correct entity.

This policy of netting off is adopted to avoid inflating both income and expenses, thereby providing a more accurate representation of the financial performance of each entity within the Group.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2023: 1)

4. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 January 2024	27,569
Additions	1,006

As at 31 December 2024	28,575

Depreciation
As at 1 January 2024	27,390
Provided during the period	483

As at 31 December 2024	27,873

Net Book Value
As at 31 December 2024	702

As at 1 January 2024	179

There is no elimination of depreciation on disposal of the fixed asset becasue they were purchased in December 2022 and disposed of in January, so had never been depreciated.

5. Stocks

	2024	2023
	£	£
Work in progress	-	7,668

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	33,544	21,929
Other debtors	34,864	28,888

	68,408	50,817

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Jellyfish Solutions Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	404,319	120,330
Bank loans and overdrafts	63,636	63,636
Amounts owed to group undertakings	370,230	437,479
Other creditors	190,323	1,174,617

	1,028,508	1,796,062

8. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	31,818	95,455

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

10. Related Party Transactions

The company has taken the exemption available under FRS 102 section 33.1a, whereby it is not required to disclose transactions with group companies. The directors have reviewed other related party transactions, these are deemed to have been concluded under normal market conditions and do not require additional disclosure in the financial statements.

11. Exceptional Items

CVA Completion

The company entered into a Company Voluntary Arrangenment (CVA) with the creditors in July 2000. The arrangement was successfully completed in June 2024 and the supervisor has issued a certificate of completion. As a resut, the remaining balance of £1,072,519 due to creditors under the CVA has been released. This has been credited to the profit and loss account as an exceptional item.

12. Impact on Liabilities

Other creditors include £1,089,818 (2022: £1,119,818) relating to amounts outstanding under the CVA. These amounts represent the balance of the liabilities that were restructured under the terms of the CVA. The CVA was approved on 7 September 2020 and completed in July 2024.

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