Caseware UK (AP4) 2024.0.164 2024.0.164 2025-06-30 2025-06-30 0 false 2024-07-01 false 32 33 false false 12146925 2024-07-01 2025-06-30 12146925 2023-07-01 2024-06-30 12146925 2025-06-30 12146925 2024-06-30 12146925 c:Director1 2024-07-01 2025-06-30 12146925 c:Director2 2024-07-01 2025-06-30 12146925 c:Director2 2025-06-30 12146925 c:Director3 2024-07-01 2025-06-30 12146925 c:Director4 2024-07-01 2025-06-30 12146925 c:Director4 2025-06-30 12146925 c:RegisteredOffice 2024-07-01 2025-06-30 12146925 d:OfficeEquipment 2024-07-01 2025-06-30 12146925 d:OfficeEquipment 2025-06-30 12146925 d:OfficeEquipment 2024-06-30 12146925 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-07-01 2025-06-30 12146925 d:PatentsTrademarksLicencesConcessionsSimilar 2024-07-01 2025-06-30 12146925 d:ComputerSoftware 2025-06-30 12146925 d:ComputerSoftware 2024-06-30 12146925 d:CurrentFinancialInstruments 2025-06-30 12146925 d:CurrentFinancialInstruments 2024-06-30 12146925 d:CurrentFinancialInstruments d:WithinOneYear 2025-06-30 12146925 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 12146925 d:ShareCapital 2025-06-30 12146925 d:ShareCapital 2024-06-30 12146925 d:RetainedEarningsAccumulatedLosses 2024-07-01 2025-06-30 12146925 d:RetainedEarningsAccumulatedLosses 2025-06-30 12146925 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 12146925 d:RetainedEarningsAccumulatedLosses 2024-06-30 12146925 d:RetainedEarningsAccumulatedLosses 2023-07-01 12146925 c:FRS102 2024-07-01 2025-06-30 12146925 c:Audited 2024-07-01 2025-06-30 12146925 c:FullAccounts 2024-07-01 2025-06-30 12146925 c:PrivateLimitedCompanyLtd 2024-07-01 2025-06-30 12146925 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2024-07-01 2025-06-30 12146925 2 2024-07-01 2025-06-30 12146925 d:ComputerSoftware d:OwnedIntangibleAssets 2024-07-01 2025-06-30 12146925 e:PoundSterling 2024-07-01 2025-06-30 12146925 d:OtherRelatedPartyRelationshipType1ComponentTotalRelatedParties 2024-07-01 2025-06-30 12146925 d:OtherTransactionType1 2025-06-30 12146925 d:OtherTransactionType2 2024-06-30 iso4217:GBP xbrli:pure

| Registered number: 12146925
JUST DIGITAL MARKETPLACE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
JUST DIGITAL MARKETPLACE LIMITED COMPANY INFORMATION
DIRECTORS | J Incles
| J B Waller
| A D Chapman (appointed 14 January 2026)
REGISTERED NUMBER | 12146925
REGISTERED OFFICE | C/O Bishop Fleming LLP
| 10 Temple Back
| Bristol
| BS1 6FL
INDEPENDENT AUDITORS | Bishop Fleming Audit Limited
| Chartered Accountants & Statutory Auditors
| 10 Temple Back
| Bristol
| BS1 6FL
JUST DIGITAL MARKETPLACE LIMITED CONTENTS
| Page
Directors' report | 1
Directors' responsibilities statement | 2
Independent auditors' report | 3 - 6
Statement of income and retained earnings | 7
Statement of financial position | 8
Notes to the financial statements | 9 - 16
JUST DIGITAL MARKETPLACE LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 30 JUNE 2025 The directors present their report and the financial statements for the year ended 30 June 2025.
PRINCIPAL ACTIVITY
The principal activity of Just Digital Marketplace Limited is the provision of High Court debt enforcement and recovery services, with a strong emphasis on technology-driven solutions.
DIRECTORS
The directors who served during the year were: N Tate (resigned 12 November 2024)
J Incles
C Osorio (resigned 14 January 2026)
J B Waller
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
AUDITORS
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
SMALL COMPANIES NOTE
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board and signed on its behalf.
J B Waller Director
Date: 18 March 2026
Page 1
JUST DIGITAL MARKETPLACE LIMITED DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 30 JUNE 2025 The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 2
JUST DIGITAL MARKETPLACE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUST DIGITAL MARKETPLACE LIMITED
OPINION
We have audited the financial statements of Just Digital Marketplace Limited (the 'Company') for the year ended 30 June 2025, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 30 June 2025 and of its loss for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
OTHER INFORMATION
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 3
JUST DIGITAL MARKETPLACE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUST DIGITAL MARKETPLACE LIMITED (CONTINUED)
OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' report has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' report and from the requirement to prepare a Strategic report.
RESPONSIBILITIES OF DIRECTORS
As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 4
JUST DIGITAL MARKETPLACE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUST DIGITAL MARKETPLACE LIMITED (CONTINUED)
AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙We have considered the nature of the industry and sector, control environment and business performance. ∙We have considered the results of our enquiries of management, those charged with governance about their own identification and assessment of the risk of irregularities. ∙For any matters identified we have obtained and reviewed the Company’s documentation of their policies and procedures relating to: °identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; °detecting and responding to the risk of fraud and whether they have any knowledge of actual, suspected, or alleged fraud; and, °the internal controls established to mitigate the risks of fraud or non-compliance with laws and regulations We have considered the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, and identified the greatest potential for fraud as incorrect recognition of revenue. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, FRS 102, and tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Company’s ability to operate or to avoid a material penalty. These included: health and safety, employment legislation, and data protection regulations. Our procedures to respond to risks identified included the following: ∙Performing various substantive tests of detail related to the recognition of revenue. ∙Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; ∙Reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue and purchase cut off; ∙Enquiring of management concerning actual and potential litigation claims; ∙Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement or fraud; and ∙In addressing the risk of fraud through management override of controls, testing the appropriateness of Page 5
JUST DIGITAL MARKETPLACE LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JUST DIGITAL MARKETPLACE LIMITED (CONTINUED) journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
OTHER MATTERS
The comparative figures within these financial statements have not been audited, as the group took advantage of the exemption under s477 of the Companies Act 2006.
USE OF OUR REPORT
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Christian Crawford ACA (Senior statutory auditor) for and on behalf of Bishop Fleming Audit Limited Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL 19 March 2026 Page 6
JUST DIGITAL MARKETPLACE LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 30 JUNE 2025
| 2025 | 2024
Note | £ | £
Turnover |  | 3,849,298 | 3,490,630
Cost of sales |  | (1,636,238) | (1,849,302)
Gross profit |  | 2,213,060 | 1,641,328
Administrative expenses |  | (2,519,822) | (3,285,550)
Operating loss |  | (306,762) | (1,644,222)
Interest receivable and similar income |  | - | 335
Interest payable and similar expenses |  | (3,715) | -
Loss before tax |  | (310,477) | (1,643,887)
Loss after tax |  | (310,477) | (1,643,887)
Retained earnings at the beginning of the year |  | (8,009,965) | (6,366,078)
Loss for the year |  | (310,477) | (1,643,887)
Retained earnings at the end of the year |  | (8,320,442) | (8,009,965)
The notes on pages 9 to 16 form part of these financial statements.
Page 7
JUST DIGITAL MARKETPLACE LIMITED REGISTERED NUMBER:12146925 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets | 4 |  | 1,161,672 |  | 1,134,022
Tangible assets | 5 |  | 6,597 |  | 12,477
|  |  | 1,168,269 |  | 1,146,499
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 6 | 1,693,521 |  | 816,933 |
Cash at bank and in hand |  | 982,004 |  | 377,291 |
|  | 2,675,525 |  | 1,194,224 |
Creditors: amounts falling due within one year | 7 | (12,164,136) |  | (10,350,588) |
Net current liabilities |  |  | (9,488,611) |  | (9,156,364)
Total assets less current liabilities |  |  | (8,320,342) |  | (8,009,865)
Net liabilities |  |  | (8,320,342) |  | (8,009,865)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | (8,320,442) |  | (8,009,965)
|  |  | (8,320,342) |  | (8,009,865)
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2026.
J B Waller
Director
The notes on pages 9 to 16 form part of these financial statements. Page 8
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | GENERAL INFORMATION
Just Digital Marketplace Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is C/O Bishop Fleming LLP, 10 Temple Back, Bristol, United Kingdom, BS1 6FL. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
The directors have assessed the Company’s ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements, in accordance with the requirements of the Companies Act 2006 and FRS 102. In making this assessment, the directors have prepared and reviewed detailed cash flow forecasts and balance sheet projections, which demonstrate that the Company is expected to meet its liabilities as they fall due and maintain adequate working capital throughout the assessment period. The parent company has confirmed, by way of a letter of support, that intercompany balances will not be demanded for repayment for at least twelve months from the date of approval of these financial statements, unless the Company has sufficient resources to settle them. Having considered the forecasts, available facilities and the letter of support, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis. Page 9
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.3 | FOREIGN CURRENCY TRANSLATION
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.
| 2.4 | REVENUE
Revenue 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.
| 2.5 | RESEARCH AND DEVELOPMENT
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years. If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. Page 10
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.6 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.7 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.8 | PENSIONS
DEFINED CONTRIBUTION PENSION PLAN The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.9 | INTANGIBLE ASSETS
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows:
|  |  |  | Computer Software | - |  | 5 - 7 years
Internal costs are capitalised only where they are directly attributable to bringing a tangible or intangible asset into the condition necessary for it to be capable of operating or being used as intended by management. Only those internal costs that form part of the directly attributable expenditure necessary to construct, develop or enhance an asset are recognised. All other internal costs are expensed as incurred.
| 2.10 | TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 11
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.10 | TANGIBLE FIXED ASSETS (CONTINUED)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Office equipment | - | 33% |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
| 2.11 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.12 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
|  | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.13 | FINANCIAL INSTRUMENTS
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash Page 12
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.13 | FINANCIAL INSTRUMENTS (CONTINUED)
equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic 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 the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled. Page 13
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
3. | EMPLOYEES
| The average monthly number of employees, including directors, during the year was 32 (2024:33).
4. | INTANGIBLE ASSETS
|  | Computer software
|  | £
| COST |
| At 1 July 2024 | 1,459,636
| Additions | 255,724
| At 30 June 2025 | 1,715,360
| AMORTISATION |
| At 1 July 2024 | 325,614
| Charge for the year on owned assets | 228,074
| At 30 June 2025 | 553,688
| NET BOOK VALUE |
| At 30 June 2025 | 1,161,672
| At 30 June 2024 | 1,134,022
Page 14
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
5. | TANGIBLE FIXED ASSETS
|  | Office equipment
|  | £
| COST OR VALUATION |
| At 1 July 2024 | 44,744
| Additions | 6,553
| Disposals | (12,617)
| At 30 June 2025 | 38,680
| DEPRECIATION |
| At 1 July 2024 | 32,267
| Charge for the year on owned assets | 9,051
| Disposals | (9,235)
| At 30 June 2025 | 32,083
| NET BOOK VALUE |
| At 30 June 2025 | 6,597
| At 30 June 2024 | 12,477
6. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 535,450 | 373,655
| Prepayments and accrued income | 1,158,071 | 443,278
|  | 1,693,521 | 816,933
Page 15
JUST DIGITAL MARKETPLACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 713,349 | 513,317
| Amounts owed to group undertakings | 10,123,841 | 9,293,596
| Other taxation and social security | 194,503 | 181,586
| Other creditors | 1,000,199 | 275,293
| Accruals and deferred income | 132,244 | 86,796
|  | 12,164,136 | 10,350,588
| Bank overdrafts are secured by a fixed and floating charge over the assets of the company.
8. | PENSION COMMITMENTS
The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £75,387 (2024: £100,683). Contributions totalling £14,860 (2024: £15,277) were payable to the fund at the reporting date and are included in creditors.
9. | RELATED PARTY TRANSACTIONS
| The company maintains loan accounts with entities within the JustNet Group which are unsecured, interest free and repayable on demand. At the balance sheet date the company owed £1,244,957 (2024: £992,674) to a fellow subsidiary Arum Systems Ltd. The amount is included within amounts owed to group undertakings. At the balance sheet date the company owed £8,876,678 (2024: £8,389,342) to the immediate parent JustNet Group. The amount is included within amounts owed to group undertakings.
10. | CONTROLLING PARTY
The immediate parent company is JustNet Group Ltd, a private limited company incorporated in England and Wales. JustNet Group Ltd prepared consolidated financial statements and its registered office is C/O Bishop Fleming, 10 Temple Back, Bristol, BS1 6FL. The ultimate parent undertaking is Love Yellow Limited, a private limited company incorporated in England and Wales. The ultimate controlling party, by virtue of his shareholding, is J B Waller.
Page 16