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REGISTERED NUMBER: 05050750 (England and Wales)















Financial Statements for the Year Ended 28 February 2023

for

Right-Advice Mortgage Consultancy Ltd

Right-Advice Mortgage Consultancy Ltd (Registered number: 05050750)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Right-Advice Mortgage Consultancy Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: K Hannan





SECRETARY: Mrs M Hannan





REGISTERED OFFICE: 31 Walker Avenue
Wolverton Mill East
Milton Keynes
Buckinghamshire
MK12 5TW





REGISTERED NUMBER: 05050750 (England and Wales)





ACCOUNTANTS: Carrington-May
Chartered Certified Accountants
31 Walker Avenue
Wolverton Mill East
Milton Keynes
Buckinghamshire
MK12 5TW

Right-Advice Mortgage Consultancy Ltd (Registered number: 05050750)

Abridged Statement of Financial Position
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,544 656

CURRENT ASSETS
Debtors 8,346 7,682
Cash at bank 23,870 34,088
32,216 41,770
CREDITORS
Amounts falling due within one year 15,472 22,387
NET CURRENT ASSETS 16,744 19,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,288

20,039

CREDITORS
Amounts falling due after more than one year (12,464 ) (14,419 )

PROVISIONS FOR LIABILITIES (289 ) (119 )
NET ASSETS 5,535 5,501

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 4,995 4,995
Retained earnings 440 406
SHAREHOLDERS' FUNDS 5,535 5,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Right-Advice Mortgage Consultancy Ltd (Registered number: 05050750)

Abridged Statement of Financial Position - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2023 and were signed by:





K Hannan - Director


Right-Advice Mortgage Consultancy Ltd (Registered number: 05050750)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Right-Advice Mortgage Consultancy Ltd 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. ACCOUNTING POLICIES

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

The company's settles its obligations as they fall due . The director has considered the future profitability and cash flow of the business, which remains positive. On this basis the director considers that the going concern basis of preparation to be appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

Right-Advice Mortgage Consultancy Ltd (Registered number: 05050750)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2022 1,950 950 2,900
Additions 642 527 1,169
At 28 February 2023 2,592 1,477 4,069
DEPRECIATION
At 1 March 2022 1,294 950 2,244
Charge for year 145 136 281
At 28 February 2023 1,439 1,086 2,525
NET BOOK VALUE
At 28 February 2023 1,153 391 1,544
At 28 February 2022 656 - 656

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
K Hannan
Balance outstanding at start of year (18 ) 4,436
Amounts advanced 4,276 -
Amounts repaid - (4,454 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,258 (18 )

The sum of £4,258 is owed to the company by the director, ( 2022 - £18 is owed by the company to the director) . No interest has been paid or accrued on the sum outstanding .
£4,258 was the maximum amount outstanding during the period.
This sum has been fully repaid post year end.