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REGISTERED NUMBER: 03855776 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Private Finance Ltd

Private Finance Ltd (Registered number: 03855776)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Private Finance Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr S J Checkley
Mr S Church-Bolger
Mr R Garbett
Mr M J Perrin
Mrs S V Bennett





REGISTERED OFFICE: 29 Lincolns Inn Fields
London
WC2A 3EG





REGISTERED NUMBER: 03855776 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

Private Finance Ltd (Registered number: 03855776)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,225 19,848

CURRENT ASSETS
Debtors 5 338,233 159,792
Cash at bank and in hand 2,055,453 2,489,210
2,393,686 2,649,002
CREDITORS
Amounts falling due within one year 6 311,443 460,590
NET CURRENT ASSETS 2,082,243 2,188,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,101,468

2,208,260

PROVISIONS FOR LIABILITIES 3,248 2,451
NET ASSETS 2,098,220 2,205,809

CAPITAL AND RESERVES
Called up share capital 6,724 6,724
Retained earnings 2,091,496 2,199,085
SHAREHOLDERS' FUNDS 2,098,220 2,205,809

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Private Finance Ltd (Registered number: 03855776)

Balance Sheet - continued
31 December 2023


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 13 February 2024 and were signed on its behalf by:





Mr S J Checkley - Director


Private Finance Ltd (Registered number: 03855776)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Private Finance 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.

Turnover
Turnover represents the net amounts invoiced during the period by the company in respect of commissions and fees and is recognised in the profit and loss account on the following basis:

1. In respect of initial premiums, turnover is recognised on the basis of business transacted and acknowledged by an insurance company. No account is taken of any contingent commission which may be ultimately payable to the company.

2. In respect of renewal premiums, turnover is recognised on the receipt of the commission.


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

Fixtures & Fittings- 15% on cost
Motor Vehicles- 25% on cost
Computer Equipment- 25% 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 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.

Private Finance Ltd (Registered number: 03855776)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2022 - 43 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 2,750 20,628 13,619 69,533 106,530
Additions - - 2,114 6,737 8,851
At 31 December 2023 2,750 20,628 15,733 76,270 115,381
DEPRECIATION
At 1 January 2023 1,948 19,001 12,944 52,789 86,682
Charge for year 687 638 813 7,336 9,474
At 31 December 2023 2,635 19,639 13,757 60,125 96,156
NET BOOK VALUE
At 31 December 2023 115 989 1,976 16,145 19,225
At 31 December 2022 802 1,627 675 16,744 19,848

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 33,779 63,043
Other debtors 304,454 96,749
338,233 159,792

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,523 2,214
Taxation and social security 133,296 225,796
Other creditors 176,624 232,580
311,443 460,590

7. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements 111,805 111,805

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be Mr S J Checkley & Mrs E Checkley by virtue of their shareholding.