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Registered Number: 11796746
England and Wales

 

 

 

MONEY ADVICE LTD


Abridged Accounts
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 30,889    33,256 
Tangible fixed assets 4 44,154    45,076 
75,043    78,332 
Current assets      
Debtors 671,695    778,822 
Cash at bank and in hand 9,331    327 
681,026    779,149 
Creditors: amount falling due within one year (355,256)   (432,844)
Net current assets 325,770    346,305 
 
Total assets less current liabilities 400,813    424,637 
Creditors: amount falling due after more than one year (61,375)   (80,084)
Provisions for liabilities (759)   (724)
Net assets 338,679    343,829 
 

Capital and reserves
     
Called up share capital 5 100    100 
Profit and loss account 338,579    343,729 
Shareholders' funds 338,679    343,829 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 30 September 2024 and were signed on its behalf by:


-------------------------------
Joshua Rice
Director
-------------------------------
Haley Beeley
Director
1
General Information
Money Advice Ltd is a private company, limited by shares, registered in England and Wales, registration number 11796746, registration address Metropolitan House, Station Road, Cheadle Hulme, Cheadle, SK8 7AZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with
FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of
Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Website
Website is stated at cost less amortization. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the Website of 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leashold property 10% Straight Line
Fixtures and Fittings 15% Reducing Balance
Computer Equipment 25% Reducing Balance
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 6).
3.

Intangible fixed assets

Cost Website   Total
  £   £
At 01 February 2023 39,928    39,928 
Additions 1,787    1,787 
Disposals  
At 31 January 2024 41,715    41,715 
Amortisation
At 01 February 2023 6,672    6,672 
Charge for year 4,154    4,154 
On disposals  
At 31 January 2024 10,826    10,826 
Net book values
At 31 January 2024 30,889    30,889 
At 31 January 2023 33,256    33,256 


4.

Tangible fixed assets

Cost or valuation Leashold property   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 February 2023 33,702    7,150    8,447    49,299 
Additions     6,654    6,654 
Disposals      
At 31 January 2024 33,702    7,150    15,101    55,953 
Depreciation
At 01 February 2023 596    2,077    1,550    4,223 
Charge for year 3,370    761    3,445    7,576 
On disposals      
At 31 January 2024 3,966    2,838    4,995    11,799 
Net book values
Closing balance as at 31 January 2024 29,736    4,312    10,106    44,154 
Opening balance as at 01 February 2023 33,106    5,073    6,897    45,076 


5.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2