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REGISTERED NUMBER: SC683892 (Scotland)




















SJF2501 Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024






SJF2501 Ltd (Registered number: SC683892)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SJF2501 Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: S J Fairfield
M Casson





REGISTERED OFFICE: 7 Wardie Avenue
Edinburgh
EH5 2AB





REGISTERED NUMBER: SC683892 (Scotland)





ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT

SJF2501 Ltd (Registered number: SC683892)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 19,768 26,945

CURRENT ASSETS
Debtors 5 39,146 32,182
Cash at bank 4,421 39,654
43,567 71,836
CREDITORS
Amounts falling due within one year 6 15,802 49,995
NET CURRENT ASSETS 27,765 21,841
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,533

48,786

PROVISIONS FOR LIABILITIES 3,756 5,120
NET ASSETS 43,777 43,666

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 43,767 43,656
43,777 43,666

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

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

The directors acknowledge their 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.

SJF2501 Ltd (Registered number: SC683892)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2025 and were signed on its behalf by:





M Casson - Director


SJF2501 Ltd (Registered number: SC683892)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

SJF2501 Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents invoiced sales of services, net of Value Added Tax in respect of the provision of audiology services and the dispensing of hearing aids. Revenue is recognised when the service has been supplied to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 20% on cost

Tenants improvements will be depreciated over the term of the lease. No depreciation has been provided as the lease has not yet been finalised.

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.

SJF2501 Ltd (Registered number: SC683892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company ceased trading in January 2025. The going concern basis has therefore not been applied and these accounts are prepared on the break-up basis. No modifications have been required in recognition of any asset or liability under the break-up basis as compared to the going concern basis.

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Property machinery
improvements etc Totals
£    £    £   
COST
At 1 January 2024 8,040 30,580 38,620
Additions - 249 249
At 31 December 2024 8,040 30,829 38,869
DEPRECIATION
At 1 January 2024 893 10,782 11,675
Charge for year 894 6,532 7,426
At 31 December 2024 1,787 17,314 19,101
NET BOOK VALUE
At 31 December 2024 6,253 13,515 19,768
At 31 December 2023 7,147 19,798 26,945

SJF2501 Ltd (Registered number: SC683892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,173 29,061
Other debtors 6,973 3,121
39,146 32,182

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,236 1,854
Amounts owed to group undertakings 7,768 31,381
Taxation and social security 4,752 12,140
Other creditors 2,046 4,620
15,802 49,995

7. POST BALANCE SHEET EVENTS

On 20 January 2025, SJF2501 Limited ceased trading. As a result, all assets held by SJF2501 Limited will be transferred to its parent company, Fairfield Hearing Limited. This transfer includes all tangible assets, such as property improvements, plant and machinery and any other financial assets. The cessation of trading and subsequent asset transfer are part of a strategic restructuring plan aimed at consolidating operations and improving overall efficiency within the Olemda Limited group.

8. ULTIMATE CONTROLLING PARTY

The controlling party is Fairfield Hearing Ltd.

The ultimate controlling party is S J Fairfield.