REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 October 2024 |
for |
JULIAN BELFRAGE ASSOCIATES LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5th Floor |
Palladium House |
1-4 Argyll Street |
London |
W1F 7TA |
BANKERS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents commissions (excluding value added tax) collected in respect of monies received into clients' accounts. |
Tangible fixed assets |
Furniture and equipment | - |
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 |
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 |
Additions |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors and prepayments |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Other investments |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors | ( |
) |
Corporation tax |
Social security and other taxes |
Other creditors |
Accruals and deferred income |
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. |