Registration number: SC289146

JLS Associates Independent Financial Advisers Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

JLS Associates Independent Financial Advisers Limited

Company Information

Director

David Kelly

Registered office

3 Eagle Street Glasgow G4 9XA

Accountants

Ross McConnell Chartered Accountant3 High Street Kinross KY13 8AW

JLS Associates Independent Financial Advisers Limited

(Registration number: SC289146)
Balance Sheet as at 31 March 2025

	Note	2025 £	2023 £
Fixed Assets
Tangible Assets	5	-	1,595
Current assets
Debtors	6	701,558	140,100
Cash at bank and in hand		-	556,896
		701,558	696,996
Creditors: Amounts falling due within one year	7	-	(69,923)
Net current assets		701,558	627,073
Net assets		701,558	628,668
Capital and reserves
Called up share capital	8	100	100
Retained earnings		701,458	628,568
Shareholders' funds		701,558	628,668

JLS Associates Independent Financial Advisers Limited

(Registration number: SC289146)
Balance Sheet as at 31 March 2025

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 December 2025
 

......................................... David Kelly Director

JLS Associates Independent Financial Advisers Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
3 Eagle Street
Glasgow
G4 9XA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

The turnover shown in the profit and loss account represents commissions and fee income received in the year.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

JLS Associates Independent Financial Advisers Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office furniture	15% reducing balance
Computer equipment	33% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

JLS Associates Independent Financial Advisers Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 3 (2023 - 3).

JLS Associates Independent Financial Advisers Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2024 and 29 October 2024	160,000	160,000
Amortisation
At 1 January 2024 and 29 October 2024	160,000	160,000
Carrying amount
At 31 December 2023 and 31 March 2025	-	-

5	Tangible Assets

	Equipment  £	Total £
Cost or valuation
Depreciation
Carrying amount
At 31 March 2025	-	-
At 31 December 2023	1,595	1,595

6

Debtors

Current	Note	2025 £	2023 £
Amounts owed by related parties	9	701,558	-
Other debtors		-	140,100
		701,558	140,100

JLS Associates Independent Financial Advisers Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2023 £
Due within one year
Directors current accounts	-	24,319
Taxation and social security	-	1,017
Corporation tax	-	43,294
Accruals and deferred income	-	1,293
	-	69,923

8	Share capital

Allotted, called up and fully paid shares

	2025		2023
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

JLS Associates Independent Financial Advisers Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 31 March 2025

9	Related party transactions

Ultimate parent company and parent company of the larger group.

The Company is a subsidiary undertaking of Wren Sterling Financial Planning Limited. The immediate controlling party is Ensco 1084 Limited.
The largest group in which the results of the Company are consolidated is that headed by Ensco 1084 Limited, incorporated in the UK.
The consolidated financial statements of these groups are available to the public and may be obtained from 13-19 Derby Road, Nottingham NG1 5AA.
The ultimate controlling party is Lightyear Capital LLC.