Company registration number SC796440 (Scotland)
JF INTERCONNECT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
JF INTERCONNECT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
JF INTERCONNECT LIMITED
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF JF INTERCONNECT LIMITED
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of JF Interconnect Limited for the period ended 28 February 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas-framework-preparation-of-accounts.

This report is made solely to the board of directors of JF Interconnect Limited, as a body, in accordance with the terms of our engagement letter dated 23 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of JF Interconnect Limited and state those matters that we have agreed to state to the board of directors of JF Interconnect Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than JF Interconnect Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that JF Interconnect Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of JF Interconnect Limited. You consider that JF Interconnect Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of JF Interconnect Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

A.J.B. Scholes Ltd
Chartered Accountants
8 Walker Street
Edinburgh
EH3 7LA
15 April 2025
JF INTERCONNECT LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2025
28 February 2025
- 2 -
2025
Notes
£
£
Current assets
Debtors
4
658
Cash at bank and in hand
14,743
15,401
Creditors: amounts falling due within one year
5
(7,729)
Net current assets
7,672
Capital and reserves
Called up share capital
6
100
Profit and loss reserves
7,572
Total equity
7,672

For the financial period ended 28 February 2025 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 of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 15 April 2025 and are signed on its behalf by:
Mr J Francey
Director
Company registration number SC796440 (Scotland)
JF INTERCONNECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 3 -
1
Accounting policies
Company information

JF Interconnect Limited is a private company limited by shares incorporated in Scotland. The registered office is 81/4 Duke Street, Edinburgh, EH6 8HN.

1.1
Reporting period

The company was incorporated on 24 January 2024 and commenced trading on 1 February 2024.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The directors are of the opinion that the company can continue to meet it obligations as they fall due for the foreseeable future. As a consequence, the directors have prepared the financial statements on the going concern basis.true

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for provided in the normal course of business.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet 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.

JF INTERCONNECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

JF INTERCONNECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
Number
Total
2
4
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
221
Other debtors
437
658
5
Creditors: amounts falling due within one year
2025
£
Taxation and social security
6,729
Other creditors
1,000
7,729
6
Called up share capital
2025
2025
Ordinary share capital
Number
£
Issued and fully paid
A ordinary shares of £1 each
50
50
B ordinary shares of £1 each
50
50
100
100
7
Directors' transactions
JF INTERCONNECT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 28 FEBRUARY 2025
7
Directors' transactions
(Continued)
- 6 -

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
J Francey
-
-
327
327
-
327
327

The loans are interest free and have no fixed repayment terms.

2025-02-282024-01-24falsefalsefalse15 April 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr James FranceyMrs Jo-Anne M FranceySC7964402024-01-242025-02-28SC7964402025-02-28SC796440core:CurrentFinancialInstrumentscore:WithinOneYear2025-02-28SC796440core:CurrentFinancialInstruments2025-02-28SC796440core:ShareCapital2025-02-28SC796440core:RetainedEarningsAccumulatedLosses2025-02-28SC796440core:ShareCapitalOrdinaryShares2025-02-28SC796440bus:Director12024-01-242025-02-28SC796440core:WithinOneYear2025-02-28SC796440bus:PrivateLimitedCompanyLtd2024-01-242025-02-28SC796440bus:SmallCompaniesRegimeForAccounts2024-01-242025-02-28SC796440bus:FRS1022024-01-242025-02-28SC796440bus:AuditExemptWithAccountantsReport2024-01-242025-02-28SC796440bus:Director22024-01-242025-02-28SC796440bus:FullAccounts2024-01-242025-02-28xbrli:purexbrli:sharesiso4217:GBP