Junction37 Limited Financials - SC608466

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These financial statements and reports have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the statement of comprehensive income has been taken.

For the 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 member has not required the company to obtain an audit of its accounts for the year ended 31 March 2025 in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The financial statements were approved and authorised for issue by the Board of Directors on 17 December 2025.

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Financial Statements for the year ended 31 March 2025

NOTES TO THE FINANCIAL STATEMENTS

Summary of significant accounting policies

1.1

General information and basis of preparation

Junction37 Limited is a private company limited by shares, registered in Scotland. The address of the registered office and registration number are as below:

These financial statements have been prepared in accordance with FRS 102 the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland as adapted by Section 1A of FRS 102 and the Companies Act 2006.

The nature of the company's operations and principal activities are was involved in property investment during the year.

The financial statements are prepared in sterling which is the functional currency of the company.

The financial statements are prepared on a going concern basis and comply with the financial reporting standards of FRC including FRS102, "The Financial Reporting Standards applicable in the UK and Ireland" as adapted by Section 1A.

The company continues to receive financial support from the director and associated companies in order to meet its liabilities as they fall due as the company is currently in a net liabilities position of £85,883 (2024: £31,227). The director will not seek repayment of the loan within 12 months of the accounts signing date. On this basis, taking into account the aforementioned assessment and assurances, the director continues to adopt the going concern basis of accounting in preparing these financial statements.

1.2

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

1.3

Investment property

Investment properties have been held at cost in line with fair value, which the director has determined by reference to similar properties in comparable locations.

1.4

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Financial Statements for the year ended 31 March 2025

NOTES TO THE FINANCIAL STATEMENTS

1.5

Financial instruments

The Company has chosen to adopt Section 11 of FRS102 in respect of financial instruments.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Other financial assets

Other financial assets, including trade debtors for goods sold to customers on short-term credit, are initially measured at the transaction price including transaction costs, and are subsequently measured at the transaction price plus transaction costs not yet recognised, cumulative interest income less repayments and impairment, where there is evidence of impairment.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Loans and borrowings are classified as current assets or liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least twelve months after the financial year end date.

Other financial liabilities

Other financial liabilities, including trade creditors, are initially measured at transaction price less transaction costs, and are subsequently measured at the transaction price less transaction costs not yet recognised in profit or loss and repayments plus cumulative interest expenses incurred.

Impairment of financial assets

At the end of each reporting period, the company assesses whether there is evidence of impairment of any financial assets, including investments, loans, trade debtors and cash. If there is evidence of impairment, impairment losses are recognised in the Profit and Loss account in that financial year.

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Where the circumstances causing an impairment of an asset, other than goodwill, no longer apply, then the impairment is reversed through the profit and loss account. An impairment loss recognised for goodwill is not reversed in subsequent periods.

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

1.7

Turnover and other income

Revenue from rental income is recognised in the period in which the service is provided.

Financial Statements for the year ended 31 March 2025

NOTES TO THE FINANCIAL STATEMENTS

1.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Interest on bank loans and overdrafts

31,542

32,126

Balances at year end and movements for the year

Investment property £

At 01 April 2024 and 31 March 2025

1,277,888

At 01 April 2024 and 31 March 2025

At 01 April 2024

1,277,888

At 31 March 2025

1,277,888

Amounts falling due within one year

Trade debtors

4,947

Prepayments

511

478

Creditors: amounts falling due within one year

Creditors: amounts falling due within one year comprise:

Other creditors

948,080

915,470

Deferred income

9,167

Accruals

12,628

10,444

Loans from directors

Financial Statements for the year ended 31 March 2025

NOTES TO THE FINANCIAL STATEMENTS

Creditors: amounts falling due after more than one year

Creditors: amounts falling due after more than one year comprise:

Bank loans

400,000

The bank loan is secured by a fixed charge over the Broadwood property.

The company has an unrecognised deferred tax asset of £19,437 (2024: £6,997) which has arisen from losses carried forward. Its recoverability is dependent upon future profits arising, the likelihood of which cannot at this stage be determined with reasonable certainty.