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REGISTERED NUMBER: 03940326 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Financial Advice Centre (South West)
Limited

The Financial Advice Centre (South West)
Limited (Registered number: 03940326)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


The Financial Advice Centre (South West)
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A J S Harvey
K J Cook





SECRETARY: P H Harvey





REGISTERED OFFICE: 40 Par Green
Par
Cornwall
PL24 2AF





REGISTERED NUMBER: 03940326 (England and Wales)

The Financial Advice Centre (South West)
Limited (Registered number: 03940326)

Abridged Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 1,803
Investments 5 2 2
2 1,805

CURRENT ASSETS
Debtors 668,746 599,186
Cash at bank and in hand 23,138 57,386
691,884 656,572
CREDITORS
Amounts falling due within one year 131,845 101,532
NET CURRENT ASSETS 560,039 555,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

560,041

556,845

CREDITORS
Amounts falling due after more than one
year

-

(31,205

)

PROVISIONS FOR LIABILITIES - (171 )
NET ASSETS 560,041 525,469

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 559,041 524,469
SHAREHOLDERS' FUNDS 560,041 525,469

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.

The Financial Advice Centre (South West)
Limited (Registered number: 03940326)

Abridged Statement of Financial Position - 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 23 September 2024 and were signed on its behalf by:





A J S Harvey - Director


The Financial Advice Centre (South West)
Limited (Registered number: 03940326)

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

1. STATUTORY INFORMATION

The Financial Advice Centre (South West) 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 represents amounts invoiced by the company in respect of services provided during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer and office equipment - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 4 (2022 - 7 ) .

The Financial Advice Centre (South West)
Limited (Registered number: 03940326)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 January 2023 4,933
Disposals (4,933 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 3,130
Charge for year 181
Eliminated on disposal (3,311 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 1,803

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2023
and 31 December 2023 2
NET BOOK VALUE
At 31 December 2023 2
At 31 December 2022 2

The company owns the whole of the ordinary share capital of FAC Properties Limited, which provide management for rental accommodation.