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REGISTERED NUMBER: 07535053 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 March 2024

for

Finance Shop Limited

Finance Shop Limited (Registered number: 07535053)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Report of the Directors 2

Chartered Certified Accountants' Report 3

Statement of Income and Retained Earnings 4

Balance Sheet 5

Notes to the Financial Statements 7


Finance Shop Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr N J Buchan
Mr A D Parkes





REGISTERED OFFICE: North Wood Place
Octagon Business Park
Little Plumstead
Norwich
NR13 5FH





REGISTERED NUMBER: 07535053 (England and Wales)





ACCOUNTANTS: Steve Pye & Co.
Chartered Certified Accountants
Unit 8
Home Farm
Norwich Road
Norwich
Norfolk
NR10 5PQ

Finance Shop Limited (Registered number: 07535053)

Report of the Directors
for the Year Ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of financial advisors.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report.

Mr N J Buchan
Mr A D Parkes

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr N J Buchan - Director


22 April 2024

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Finance Shop Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Finance Shop Limited for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Finance Shop Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Finance Shop Limited and state those matters that we have agreed to state to the Board of Directors of Finance Shop Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Finance Shop Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Finance Shop Limited. You consider that Finance Shop Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Finance Shop Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Steve Pye & Co.
Chartered Certified Accountants
Unit 8
Home Farm
Norwich Road
Norwich
Norfolk
NR10 5PQ


22 April 2024

Finance Shop Limited (Registered number: 07535053)

Statement of Income and Retained Earnings
for the Year Ended 31 March 2024

2024 2023
£    £   

TURNOVER 7,531,351 7,525,129

Cost of sales 1,654,119 1,449,198
GROSS PROFIT 5,877,232 6,075,931

Administrative expenses 2,883,036 2,904,718
2,994,196 3,171,213

Other operating income 500 4,500
OPERATING PROFIT 2,994,696 3,175,713

Interest receivable and similar income 57,929 (28,968 )
PROFIT BEFORE TAXATION 3,052,625 3,146,745

Tax on profit 768,570 616,654
PROFIT FOR THE FINANCIAL YEAR 2,284,055 2,530,091

Retained earnings at beginning of year 3,546,079 3,536,532

Dividends (2,267,904 ) (2,520,544 )

RETAINED EARNINGS AT END OF YEAR 3,562,230 3,546,079

Finance Shop Limited (Registered number: 07535053)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 38,983 37,487
Investments 7 336,116 343,697
375,099 381,184

CURRENT ASSETS
Debtors 8 1,297,140 1,149,252
Cash at bank and in hand 2,992,374 3,069,445
4,289,514 4,218,697
CREDITORS
Amounts falling due within one year 9 987,749 941,418
NET CURRENT ASSETS 3,301,765 3,277,279
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,676,864

3,658,463

PROVISIONS FOR LIABILITIES 9,372 7,122
NET ASSETS 3,667,492 3,651,341

CAPITAL AND RESERVES
Called up share capital 10 105,262 105,262
Retained earnings 3,562,230 3,546,079
SHAREHOLDERS' FUNDS 3,667,492 3,651,341

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.

Finance Shop Limited (Registered number: 07535053)

Balance Sheet - continued
31 March 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 22 April 2024 and were signed on its behalf by:





Mr N J Buchan - Director


Finance Shop Limited (Registered number: 07535053)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Finance Shop 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

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

Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful life of the goodwill of 10 years.

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 etc - 33% on cost and 15% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Finance Shop Limited (Registered number: 07535053)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Finance Shop Limited (Registered number: 07535053)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 47 (2023 - 47 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 4,500,000
AMORTISATION
At 1 April 2023
and 31 March 2024 4,500,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Finance Shop Limited (Registered number: 07535053)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 148,246
Additions 16,710
At 31 March 2024 164,956
DEPRECIATION
At 1 April 2023 110,759
Charge for year 15,214
At 31 March 2024 125,973
NET BOOK VALUE
At 31 March 2024 38,983
At 31 March 2023 37,487

7. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST
At 1 April 2023 105,254 238,443 343,697
Additions - (7,581 ) (7,581 )
At 31 March 2024 105,254 230,862 336,116
NET BOOK VALUE
At 31 March 2024 105,254 230,862 336,116
At 31 March 2023 105,254 238,443 343,697

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,211,299 1,064,960
Other debtors 85,841 84,292
1,297,140 1,149,252

Finance Shop Limited (Registered number: 07535053)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 432,483 389,528
Amounts owed to group undertakings 406,139 501,415
Taxation and social security 141,381 41,209
Other creditors 7,746 9,266
987,749 941,418

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
19,000 A Ordinary £1 19,000 19,000
20,000 B Ordinary £1 20,000 20,000
20,000 C Ordinary £1 20,000 20,000
19,000 D Ordinary £1 19,000 19,000
19,000 E Ordinary £1 19,000 19,000
3,000 F Ordinary £1 3,000 3,000
5,262 G Ordinary £1 5,262 5,262
105,262 105,262