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JR PRIVATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
JR Private Finance Limited is a private company limited by shares and incorporated in England and Wales (registered number 13749764). The registered office address is 48 Queen Anne Street, London, W1G 9JJ.
The financial statements are presented in Sterling, which is the functional currency of the Company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis. The company is dependent on the director and shareholder for financial support, which the director is confident will continue for a period of at least another 12 months following the approval of these financial statements.
As at 31 December 2024, the company had net liabilities of £36,047. The director and shareholder has indicated their present intention to provide adequate finance to enable the company to continue in operational existence, and on this basis the director considers it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the director and shareholder.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
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