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REGISTERED NUMBER: 01140032 (England and Wales)















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD

BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD (REGISTERED NUMBER: 01140032)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD

Company Information
for the Year Ended 30 June 2023







Directors: S R Backhouse
J S W Backhouse
G R Tracey
S L Collinge





Secretary: S L Collinge





Registered office: Oakmount House
9 Carrside
Nelson
Lancashire
BB9 6EX





Registered number: 01140032 (England and Wales)





Accountants: Haines Watts Manchester Limited
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD (REGISTERED NUMBER: 01140032)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 3,339 15,748

Current assets
Debtors 6 712,626 751,346
Cash at bank 265,102 200,352
977,728 951,698
Creditors
Amounts falling due within one year 7 803,446 728,584
Net current assets 174,282 223,114
Total assets less current liabilities 177,621 238,862

Provisions for liabilities 600 600
Net assets 177,021 238,262

Capital and reserves
Called up share capital 8 85,000 85,000
Retained earnings 92,021 153,262
Shareholder funds 177,021 238,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2023 and were signed on its behalf by:





J S W Backhouse - Director


BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD (REGISTERED NUMBER: 01140032)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

Backhouse Independent Financial Services 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. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Commission income is recognised once remittance has been received in full.

Any other income is recognised on completion of the service provided.

Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor vehicles - 25% straight line
Computer equipment - 25% straight line

Financial instruments
a) Financial assets

Basic financial assets, including trade and other debtors and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method. There are no assets which are initially measured at fair value.

b) Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.


BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD (REGISTERED NUMBER: 01140032)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

4. Employees and directors

The average number of employees during the year was 5 (2022 - 6 ) .

5. Tangible fixed assets
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 July 2022 20,999 16,480 37,479
Disposals (20,999 ) - (20,999 )
At 30 June 2023 - 16,480 16,480
Depreciation
At 1 July 2022 11,000 10,731 21,731
Charge for year - 2,410 2,410
Eliminated on disposal (11,000 ) - (11,000 )
At 30 June 2023 - 13,141 13,141
Net book value
At 30 June 2023 - 3,339 3,339
At 30 June 2022 9,999 5,749 15,748

BACKHOUSE INDEPENDENT
FINANCIAL SERVICES LTD (REGISTERED NUMBER: 01140032)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 1,250 758
Amounts owed by group undertakings 709,144 748,841
Other debtors 2,232 1,747
712,626 751,346

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors - 182
Amounts owed to group undertakings 718,546 644,586
Taxation and social security 5,847 9,581
Other creditors 79,053 74,235
803,446 728,584

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
85,000 Ordinary £1 85,000 85,000