Financial Guardian (UK) Ltd 07906605 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Financial Intermediation Digita Accounts Production Advanced 6.30.9574.0 true false 07906605 2022-07-01 2023-06-30 07906605 2023-06-30 07906605 bus:OrdinaryShareClass1 2023-06-30 07906605 core:CurrentFinancialInstruments 2023-06-30 07906605 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 07906605 core:Non-currentFinancialInstruments 2023-06-30 07906605 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 07906605 core:FurnitureFittingsToolsEquipment 2023-06-30 07906605 bus:SmallEntities 2022-07-01 2023-06-30 07906605 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07906605 bus:FullAccounts 2022-07-01 2023-06-30 07906605 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 07906605 bus:RegisteredOffice 2022-07-01 2023-06-30 07906605 bus:Director1 2022-07-01 2023-06-30 07906605 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 07906605 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07906605 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 07906605 countries:AllCountries 2022-07-01 2023-06-30 07906605 2022-06-30 07906605 core:CostValuation 2022-06-30 07906605 core:FurnitureFittingsToolsEquipment 2022-06-30 07906605 2021-07-01 2022-06-30 07906605 2022-06-30 07906605 bus:OrdinaryShareClass1 2022-06-30 07906605 core:CurrentFinancialInstruments 2022-06-30 07906605 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 07906605 core:Non-currentFinancialInstruments 2022-06-30 07906605 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 07906605 core:FurnitureFittingsToolsEquipment 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07906605

Financial Guardian (UK) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Financial Guardian (UK) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Financial Guardian (UK) Ltd

Company Information

Director

Mr Mark Hollinshead

Registered office

Second Floor, Coppull Enterprise Centre
Mill Lane
Coppull
Chorley
PR7 5BW

Accountants

APL Accountants Limited
Chartered Accountants

 

Financial Guardian (UK) Ltd

(Registration number: 07906605)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,412

12,912

Investments

5

100

100

 

12,512

13,012

Current assets

 

Debtors

6

58,094

72,894

Cash at bank and in hand

 

28,199

31,905

 

86,293

104,799

Creditors: Amounts falling due within one year

7

(38,351)

(40,612)

Net current assets

 

47,942

64,187

Total assets less current liabilities

 

60,454

77,199

Creditors: Amounts falling due after more than one year

7

(8,722)

(32,566)

Net assets

 

51,732

44,633

Capital and reserves

 

Called up share capital

8

10,000

10,000

Retained earnings

41,732

34,633

Shareholders' funds

 

51,732

44,633

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 March 2024
 

 

Financial Guardian (UK) Ltd

(Registration number: 07906605)
Balance Sheet as at 30 June 2023

.........................................
Mr Mark Hollinshead
Director

 

Financial Guardian (UK) Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Second Floor, Coppull Enterprise Centre
Mill Lane
Coppull
Chorley
PR7 5BW

The principal place of business is:
Second Floor, Coppull Enterprise Centre
Mill Lane
Coppull
Chorley
PR7 5BW

These financial statements were authorised for issue by the director on 6 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Financial Guardian (UK) Ltd

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

15% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Financial Guardian (UK) Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 4).

 

Financial Guardian (UK) Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2022

37,118

37,118

At 30 June 2023

37,118

37,118

Depreciation

At 1 July 2022

24,206

24,206

Charge for the year

500

500

At 30 June 2023

24,706

24,706

Carrying amount

At 30 June 2023

12,412

12,412

At 30 June 2022

12,912

12,912

5

Investments

2023
£

2022
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 July 2022

100

Provision

Carrying amount

At 30 June 2023

100

At 30 June 2022

100

6

Debtors

Current

2023
£

2022
£

Trade debtors

27,300

23,800

Other debtors

30,794

49,094

 

58,094

72,894

 

Financial Guardian (UK) Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

26,844

26,844

Taxation and social security

 

2,137

13,408

Other creditors

 

9,370

360

 

38,351

40,612

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

8,722

32,566

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

10,000

10,000

10,000

10,000

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

8,722

32,566

2023
£

2022
£

Current loans and borrowings

Other borrowings

26,844

26,844