James Street Advisory Limited
Unaudited Financial Statements
For the year ended 31 March 2025
Pages for Filing with Registrar
Company Registration No. 15122644 (England and Wales)
James Street Advisory Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
James Street Advisory Limited
Balance Sheet
As at 31 March 2025
Page 1
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
9,099
17,474
Cash at bank and in hand
12,128
7,547
21,227
25,021
Creditors: amounts falling due within one year
4
(15,128)
(19,254)
Net current assets
6,099
5,767
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
6,098
5,766
Total equity
6,099
5,767
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 10 June 2025
J Barlow
Director
Company Registration No. 15122644
James Street Advisory Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 2
1
Accounting policies
Company information
James Street Advisory Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Reporting period
The annual financial statements for the prior period are presented shorter than one year due to the company incorporating on 7 September 2023 and therefore the financial statements are not entirely comparable.
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 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
Atruet the time of approving the financial statements, with the continued support from group companies, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of not less than twleve months following the approval of these financial statements. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
All of the company's financial assets and liabilities are basic and measured at amortised cost.
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.
James Street Advisory Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 3
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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
James Street Advisory Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 4
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Prepayments and accrued income
9,099
17,474
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
507
3,723
Corporation tax
78
1,352
Other taxation and social security
9,414
Other creditors
479
11,179
Accruals and deferred income
4,650
3,000
15,128
19,254
5
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1
1
1
1
6
Directors' transactions
At the year end, included within other creditors is an amount owed to the director for £479 (2024: £11,179), relating to expenses paid on behalf of the business.