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REGISTERED NUMBER: 01947359 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

JULIAN BELFRAGE ASSOCIATES LIMITED

JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Contents of the Financial Statements
for the year ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JULIAN BELFRAGE ASSOCIATES LIMITED

Company Information
for the year ended 31 October 2024







DIRECTOR: Mrs V M Belfrage



SECRETARY: Mrs V M Belfrage



REGISTERED OFFICE: 3rd Floor
9 Argyll Street
London
W1F 7TG



REGISTERED NUMBER: 01947359 (England and Wales)



ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA



BANKERS: Lloyds Bank plc
39 Old Bond Street
London
W1X 4BH

JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 5 8,878 7,324

CURRENT ASSETS
Debtors 6 179,984 187,445
Investments 7 1,016 1,016
Cash at bank and in hand 650,023 661,201
831,023 849,662
CREDITORS
Amounts falling due within one year 8 (566,212 ) (368,461 )
NET CURRENT ASSETS 264,811 481,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

273,689

488,525

PROVISIONS FOR LIABILITIES (2,220 ) (1,246 )
NET ASSETS 271,469 487,279

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 271,369 487,179
SHAREHOLDERS' FUNDS 271,469 487,279

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Balance Sheet - continued
31 October 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 April 2025 and were signed by:





Mrs V M Belfrage - Director


JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Notes to the Financial Statements
for the year ended 31 October 2024


1. STATUTORY INFORMATION

Julian Belfrage Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents commissions (excluding value added tax) collected in respect of monies received into clients' accounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as incurred.

Assets purchased under Lease and Hire Purchase Contracts are included in fixed assets and depreciated in accordance with the policy above. The liabilities, net of finance charges allocated to future periods, are included in creditors. The finance charges are taken to the profit and loss account in the period in which they are paid.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Financial instruments
The company has the following basic financial instruments.

Basic financial assets

Other debtors and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic 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.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Other creditors and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


5. PROPERTY, PLANT AND EQUIPMENT
Furniture
and
equipment
£   
COST
At 1 November 2023 132,295
Additions 7,013
At 31 October 2024 139,308
DEPRECIATION
At 1 November 2023 124,971
Charge for year 5,459
At 31 October 2024 130,430
NET BOOK VALUE
At 31 October 2024 8,878
At 31 October 2023 7,324

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors and prepayments 179,984 187,445

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other investments 1,016 1,016

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1 ) -
Corporation tax 129,583 66,745
Social security and other taxes 55,161 27,893
Other creditors 24,579 34,408
Accruals and deferred income 356,890 239,415
566,212 368,461

JULIAN BELFRAGE ASSOCIATES LIMITED (REGISTERED NUMBER: 01947359)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


9. FINANCIAL INSTRUMENTS

The company has the following financial instruments:

Financial assets that are debt instruments measured at
amortised cost:-

2024 2023
£ £
- Other debtors and prepayments 179,984 187,445

2024 2023
£ £
- Other investments 1,016 1,016

Financial liabilities measured at amortised cost:-
2024 2023
£ £
- Trade creditors (1 ) -
- Corporation tax 129,583 66,745
- Social security and other taxes 55,161 27,893
- Other creditors 24,579 34,408
- Accruals and deferred income 356,890 239,415
566,212 368,461




10. ULTIMATE CONTROLLING PARTY

Mrs V Belfrage, the sole director, controls the company by virtue of a controlling interest of 100% of the issued ordinary share capital.