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REGISTERED NUMBER: 05245856 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

ALLIED FINANCIAL SERVICES LIMITED

ALLIED FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05245856)






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


ALLIED FINANCIAL SERVICES LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: Mr A J Lindley
Mrs A L Taylor





Registered office: Allied House
98 Standishgate
Wigan
Lancashire
WN1 1XA





Registered number: 05245856 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

ALLIED FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05245856)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 5,927 6,741
Investments 6 18 1,776,929
5,945 1,783,670

CURRENT ASSETS
Debtors 7 257,149 51,648
Cash at bank and in hand 347,684 107,769
604,833 159,417
CREDITORS
Amounts falling due within one year 8 173,023 1,017,550
NET CURRENT ASSETS/(LIABILITIES) 431,810 (858,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

437,755

925,537

PROVISIONS FOR LIABILITIES 10 1,158 1,064
NET ASSETS 436,597 924,473

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 436,497 924,373
SHAREHOLDERS' FUNDS 436,597 924,473

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.

ALLIED FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05245856)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2024 and were signed on its behalf by:





Mr A J Lindley - Director


ALLIED FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05245856)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Allied Financial Services 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 comprises of the commission earned on business written by the company during the year once the premium has been accepted, with provision being made for any policies which may subsequently be cancelled.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance and 15% on reducing balance
Computer equipment - 33% 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 Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 8 ) .

ALLIED FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05245856)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 749,655
AMORTISATION
At 1 January 2023
and 31 December 2023 749,655
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 14,913 50,878 65,791
Additions - 1,530 1,530
At 31 December 2023 14,913 52,408 67,321
DEPRECIATION
At 1 January 2023 12,774 46,276 59,050
Charge for year 321 2,023 2,344
At 31 December 2023 13,095 48,299 61,394
NET BOOK VALUE
At 31 December 2023 1,818 4,109 5,927
At 31 December 2022 2,139 4,602 6,741

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 1,776,929
Impairments (1,776,911 )
At 31 December 2023 18
NET BOOK VALUE
At 31 December 2023 18
At 31 December 2022 1,776,929

ALLIED FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05245856)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 49,938 39,161
Other debtors 207,211 12,487
257,149 51,648

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Amounts owed to associates - 82,109
Taxation and social security 149,541 52,716
Other creditors 23,482 882,725
173,023 1,017,550

9. SECURED DEBTS

A legal charge exists, dated 21 November 2019, in favour of Mr G Edgerton, who acts on behalf of the settlement trustees following the sale of Fairhurst Financial Planning Limited to Allied Financial Services Limited. The debenture covers all monies due or to become due from the company in line with the SPA.

A debenture exists placing a fixed and floating charge over the undertaking and all property and assets present and future, on all monies due or to become due from the company to the chargee, dated 21 November 2019 in favour of Clydesdale Bank plc.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 1,158 1,064

Deferred
tax
£   
Balance at 1 January 2023 1,064
Provided during year 94
Balance at 31 December 2023 1,158

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100