JRNY Magazine Limited

(Registration number: 13573410)
Balance Sheet as at 31 August 2025

For the financial year ending 31 August 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 July 2026 and signed on its behalf by:
 

......................................... K Dadfar Director

......................................... J G H Banks Director

JRNY Magazine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

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:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
United Kingdom

Principal activity

The principal activity of the Company is to produce and sell travel magazines.

These financial statements were authorised for issue by the Board on 3 July 2026.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

JRNY Magazine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

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.

Financial instruments

Classification
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to/from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
 

Tax

The tax expense for the period comprises current 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.

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.

JRNY Magazine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

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
Office Equipment	4 Years straight line.

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.

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.

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.

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

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

JRNY Magazine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

3	Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4	Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 2 (2024 - 2).

5	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 September 2024	5,582	5,582
Additions	440	440
At 31 August 2025	6,022	6,022
Depreciation
At 1 September 2024	1,389	1,389
Charge for the year	1,478	1,478
At 31 August 2025	2,867	2,867
Carrying amount
At 31 August 2025	3,155	3,155
At 31 August 2024	4,193	4,193

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	21,655	2,888

JRNY Magazine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	75,581	-
Prepayments	7,347	10,038
Other debtors	-	5,111
	82,928	15,149

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	8,546	-
Taxation and social security	12,735	7,535
Accruals and deferred income	34,955	12,000
	56,236	19,535

9	Related party transactions

Transactions with other related parties

K Dadfar:
During the period, K Dadfar loaned the company £Nil (2024: £Nil) and K Dadfar made repayments of £310.74 (2024: £Nil). At the end of the period, the amount owed from K Dadfar was £Nil (2024: £310.74 owed from K Dadfar).

J Banks:
During the period, J Banks loaned the company £Nil (2024: £Nil) and J Banks made repayments of £50.00 (2024: £Nil). At the end of the period, the amount owed from J Banks was £Nil (2024: £50.00 owed from J Banks).

That Wild Idea:
During the year 'That Wild Idea', an unincorporated entity controlled by K Dadfar and J Banks, loaned the company £Nil (2024: £Nil) and and made repayments of £Nil (2024: £17,450.00). The amount outstanding at the balance sheet date was £Nil (2024: £Nil).

JRNY Magazine Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100