REGISTERED NUMBER: 01947359 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

JULIAN BELFRAGE ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs V M Belfrage

SECRETARY:

Mrs V M Belfrage

REGISTERED OFFICE:

3rd Floor

9 Argyll Street

London

W1F 7TG

REGISTERED NUMBER:

01947359 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

5th Floor

Palladium House

1-4 Argyll Street

London

W1F 7TA

BANKERS:

Lloyds Bank plc

39 Old Bond Street

London

W1X 4BH

FIXED ASSETS

Property, plant and equipment

5

7,019

8,878

CURRENT ASSETS

Debtors

6

187,318

179,984

Investments

7

1,016

1,016

Cash at bank and in hand

969,153

650,023

1,157,487

831,023

CREDITORS

Amounts falling due within one year

8

(745,353

)

(566,212

)

NET CURRENT ASSETS

412,134

264,811

TOTAL ASSETS LESS CURRENT LIABILITIES

419,153

273,689

PROVISIONS FOR LIABILITIES

(1,755

)

(2,220

)

NET ASSETS

417,398

271,469

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

417,298

271,369

SHAREHOLDERS' FUNDS

417,398

271,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2026 and were signed by:

Mrs V M Belfrage - Director

1.	STATUTORY INFORMATION

Julian Belfrage Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents commissions (excluding value added tax) collected in respect of monies received into clients' accounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and equipment

-

25% on reducing balance

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as incurred.

Assets purchased under Lease and Hire Purchase Contracts are included in fixed assets and depreciated in accordance with the policy above. The liabilities, net of finance charges allocated to future periods, are included in creditors. The finance charges are taken to the profit and loss account in the period in which they are paid.

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.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Financial instruments

The company has the following basic financial instruments.

Basic financial assets

Other debtors and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial assets are derecognised when (a) the contractual rights to the cash flows from the assets expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Basic financial liabilities

Other creditors and accruals are initially recognised at transaction price and subsequently carried at amortised cost, using the effective interest rate method.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Furniture

and

equipment

£

COST

At 1 November 2024

139,308

Additions

480

At 31 October 2025

139,788

DEPRECIATION

At 1 November 2024

130,430

Charge for year

2,339

At 31 October 2025

132,769

NET BOOK VALUE

At 31 October 2025

7,019

At 31 October 2024

8,878

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors and prepayments

187,318

179,984

7.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Other investments

1,016

1,016

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

-

(1

)

Corporation tax

283,923

129,583

Social security and other taxes

67,229

55,161

Other creditors

17,551

24,579

Accruals and deferred income

376,650

356,890

745,353

566,212

9.	FINANCIAL INSTRUMENTS

The company has the following financial instruments:

Financial assets that are debt instruments measured at

amortised cost:-

2025

2024

£

£

- Other debtors and prepayments

187,318

179,984

2025

2024

£

£

- Other investments

1,016

1,016

Financial liabilities measured at amortised cost:-

2025

2024

£

£

- Trade creditors

-

(1

)

- Corporation tax

283,923

129,583

- Social security and other taxes

67,229

55,161

- Other creditors

17,551

24,579

- Accruals and deferred income

376,650

356,890

745,353

566,212

10.	ULTIMATE CONTROLLING PARTY

Mrs V Belfrage, the sole director, controls the company by virtue of a controlling interest of 100% of the issued ordinary share capital.