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REGISTERED NUMBER: 07577842 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Low Fell Mortgage Services Ltd

Low Fell Mortgage Services Ltd (Registered number: 07577842)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Low Fell Mortgage Services Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr C A Armstrong
Mr L R Wright





REGISTERED OFFICE: 429 Durham Road
Lowfell
Gateshead
Tyne and Wear
NE9 5AN





REGISTERED NUMBER: 07577842 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Low Fell Mortgage Services Ltd (Registered number: 07577842)

Balance Sheet
31 October 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 9,568 6,268
Cash at bank 10,715 20,422
20,283 26,690
CREDITORS
Amounts falling due within one year 6 (9,995 ) (12,337 )
NET CURRENT ASSETS 10,288 14,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,288

14,353

CREDITORS
Amounts falling due after more than one
year

7

(4,928

)

(7,950

)
NET ASSETS 5,360 6,403

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Profit and loss account 360 1,403
SHAREHOLDERS' FUNDS 5,360 6,403

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr C A Armstrong - Director


Low Fell Mortgage Services Ltd (Registered number: 07577842)

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

1. STATUTORY INFORMATION

Low Fell Mortgage Services Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents
amounts receivable for services rendered.

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

Rendering of services:
The company provides financial services. When the outcome of a transaction for the rendering of the services can be estimated reliably the company recognises revenue on the sale of services in the reporting period in which the services are rendered.

Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.

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 and other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Current and deferred tax assets and liabilities are not discounted.

Financial instruments
The company only enters into basic financial instrument transactions 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, loans to related parties and investments on non-puttable ordinary shares.

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.

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,875 1,300
Other debtors 7,693 4,968
9,568 6,268

Low Fell Mortgage Services Ltd (Registered number: 07577842)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,022 2,958
Taxation and social security 4,708 6,265
Other creditors 2,265 3,114
9,995 12,337

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 4,928 7,950

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£    £   
Mr C A Armstrong
Balance outstanding at start of year - -
Amounts advanced 2,753 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,753 -

Mr L R Wright
Balance outstanding at start of year - -
Amounts advanced 1,100 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,100 -

The director's loans are interest free and repayable on demand.