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Registered number: 04692908
Caton Fry Financial Services Limited
Financial Statements
For The Year Ended 30 June 2024
AJM Accountancy & Taxation Ltd
21 Goldings Close
Kings Hill
Kent
ME19 4BE
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 04692908
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 31,477 43,944
31,477 43,944
CURRENT ASSETS
Debtors 5 2,779 2,835
Cash at bank and in hand 73,847 98,945
76,626 101,780
Creditors: Amounts Falling Due Within One Year 6 (62,871 ) (54,901 )
NET CURRENT ASSETS (LIABILITIES) 13,755 46,879
TOTAL ASSETS LESS CURRENT LIABILITIES 45,232 90,823
NET ASSETS 45,232 90,823
CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Income Statement 35,232 80,823
SHAREHOLDERS' FUNDS 45,232 90,823
Page 1
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For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr P J Caton
Director
12 August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Caton Fry Financial Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04692908 . The registered office is Essex House 8 The Shrubberies, George Lane, South Woodford, London, E18 1BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the commissions and fees receivable.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% on straight line
Computer Equipment 33.3% on straight line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 July 2023 47,100 10,814 57,914
Additions - 778 778
As at 30 June 2024 47,100 11,592 58,692
Depreciation
As at 1 July 2023 10,401 3,569 13,970
Provided during the period 9,420 3,825 13,245
As at 30 June 2024 19,821 7,394 27,215
Net Book Value
As at 30 June 2024 27,279 4,198 31,477
As at 1 July 2023 36,699 7,245 43,944
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,779 2,835
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 55,418 38,222
Other taxes and social security 1,009 1,001
Other creditors 2,829 367
Accruals and deferred income 1,615 13,311
Directors' loan accounts 2,000 2,000
62,871 54,901
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7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
8. Related Party Transactions
During the year, total dividends of £194,136 (2023: £172,238) were paid to the directors.
The company was under the control of the directors throughout the period.
Included within consultancy fees are payments made in respect of services provided by Elysium Court Ltd, a company in which Mr P J Caton is a director, totalling £60,122 (2023: 19,575).  Also included within consultancy fees are payments made in repect of services totalling £14,700 provided by APC Consultants, a partnership of Mr P J Caton and Mrs A Caton, who is the spouse of Mr P J Caton.
The ultimate controlling party is Mr P J Caton.
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