IRIS Accounts Production v24.1.0.578 05390216 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Ordinary £1 Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053902162023-03-31053902162024-03-31053902162023-04-012024-03-31053902162022-03-31053902162022-04-012023-03-31053902162023-03-3105390216ns15:EnglandWales2023-04-012024-03-3105390216ns14:PoundSterling2023-04-012024-03-3105390216ns10:Director12023-04-012024-03-3105390216ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105390216ns10:SmallEntities2023-04-012024-03-3105390216ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105390216ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105390216ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105390216ns10:FullAccounts2023-04-012024-03-3105390216ns10:OrdinaryShareClass12023-04-012024-03-3105390216ns10:Director22023-04-012024-03-3105390216ns10:CompanySecretary12023-04-012024-03-3105390216ns10:RegisteredOffice2023-04-012024-03-3105390216ns5:CurrentFinancialInstruments2024-03-3105390216ns5:CurrentFinancialInstruments2023-03-3105390216ns5:ShareCapital2024-03-3105390216ns5:ShareCapital2023-03-3105390216ns5:RetainedEarningsAccumulatedLosses2024-03-3105390216ns5:RetainedEarningsAccumulatedLosses2023-03-3105390216ns5:PlantMachinery2023-04-012024-03-3105390216ns5:FurnitureFittings2023-04-012024-03-3105390216ns5:ComputerEquipment2023-04-012024-03-3105390216ns5:PlantMachinery2023-03-3105390216ns5:FurnitureFittings2023-03-3105390216ns5:ComputerEquipment2023-03-3105390216ns5:PlantMachinery2024-03-3105390216ns5:FurnitureFittings2024-03-3105390216ns5:ComputerEquipment2024-03-3105390216ns5:PlantMachinery2023-03-3105390216ns5:FurnitureFittings2023-03-3105390216ns5:ComputerEquipment2023-03-3105390216ns10:OrdinaryShareClass12024-03-3105390216ns5:RetainedEarningsAccumulatedLosses2023-03-3105390216ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 05390216 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

FINANCIAL SOLUTIONS WALES LIMITED

FINANCIAL SOLUTIONS WALES LIMITED (REGISTERED NUMBER: 05390216)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FINANCIAL SOLUTIONS WALES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P K Phelps
J N Phelps





SECRETARY:





REGISTERED OFFICE: Unit 5
Dragon 24
North Dock
Llanelli
Carmarthenshire
SA15 2LF





REGISTERED NUMBER: 05390216 (England and Wales)





ACCOUNTANTS: Charles & Co
Chartered Certified Accountants
3 Murray Street
Llanelli
Carmarthenshire
SA15 1AQ

FINANCIAL SOLUTIONS WALES LIMITED (REGISTERED NUMBER: 05390216)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,900 7,374

CURRENT ASSETS
Cash at bank and in hand 292,610 202,795

CREDITORS
Amounts falling due within one year 5 26,300 19,001
NET CURRENT ASSETS 266,310 183,794
TOTAL ASSETS LESS CURRENT
LIABILITIES

272,210

191,168

CAPITAL AND RESERVES
Called up share capital 6 80 80
Retained earnings 7 272,130 191,088
SHAREHOLDERS' FUNDS 272,210 191,168

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





J N Phelps - Director


FINANCIAL SOLUTIONS WALES LIMITED (REGISTERED NUMBER: 05390216)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Financial Solutions Wales 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. 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.

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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% 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.

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 (2023 - 3 ) .

FINANCIAL SOLUTIONS WALES LIMITED (REGISTERED NUMBER: 05390216)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023
and 31 March 2024 4,011 27,441 6,463 37,915
DEPRECIATION
At 1 April 2023 4,011 20,479 6,051 30,541
Charge for year - 1,392 82 1,474
At 31 March 2024 4,011 21,871 6,133 32,015
NET BOOK VALUE
At 31 March 2024 - 5,570 330 5,900
At 31 March 2023 - 6,962 412 7,374

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,560
Tax 24,649 16,173
Accrued expenses 1,651 1,268
26,300 19,001

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary £1 Shares £1 80 80

7. RESERVES
Retained
earnings
£   

At 1 April 2023 191,088
Profit for the year 81,042
At 31 March 2024 272,130