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REGISTERED NUMBER: 07310886 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

INTERESTME FINANCIAL PLANNING LIMITED

INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Income statement 1

Statement of Financial Position 2

Notes to the Financial Statements 4


INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

INCOME STATEMENT
FOR THE YEAR ENDED 31 JANUARY 2024

2024 2023
£    £   

REVENUE 729,323 793,259

Cost of sales 99,032 54,751
GROSS PROFIT 630,291 738,508

Administrative expenses 552,528 663,817
OPERATING PROFIT 77,763 74,691

Amounts written off investments 2,341 -
75,422 74,691

Interest payable and similar expenses 23,503 17,179
PROFIT BEFORE TAXATION 51,919 57,512

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR 51,919 57,512

INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 706
Property, plant and equipment 5 20,068 26,757
20,068 27,463

CURRENT ASSETS
Debtors 6 788,888 792,583
Investments 7 57,048 21,836
Cash at bank 17,265 18,601
863,201 833,020
CREDITORS
Amounts falling due within one year 8 232,685 214,887
NET CURRENT ASSETS 630,516 618,133
TOTAL ASSETS LESS CURRENT
LIABILITIES

650,584

645,596

CREDITORS
Amounts falling due after more than one year 9 195,840 242,771
NET ASSETS 454,744 402,825

CAPITAL AND RESERVES
Called up share capital 933,095 933,095
Share premium 751,195 751,195
Retained earnings (1,229,546 ) (1,281,465 )
SHAREHOLDERS' FUNDS 454,744 402,825

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





Mr C P Long - Director


INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

InterestMe Financial Planning Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07310886

Registered office: Lloyds Avenue House
6 Lloyds Avenue
London
EC3N 3AX

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of work carried out in respect of services provided to customers.

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.

Development costs are being amortised over their estimated useful life of four years.

Goodwill and trademark costs are being amortised over five years.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.


INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued
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 material 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.

Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

Hire purchase and leasing commitments
Assets acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. Rentals payable under operating leases are charged to the profit and loss account 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
and Trade
Mark
£   
COST
At 1 February 2023
and 31 January 2024 81,365
AMORTISATION
At 1 February 2023 80,659
Amortisation for year 706
At 31 January 2024 81,365
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 706

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 February 2023
and 31 January 2024 104,502
DEPRECIATION
At 1 February 2023 77,745
Charge for year 6,689
At 31 January 2024 84,434
NET BOOK VALUE
At 31 January 2024 20,068
At 31 January 2023 26,757

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 23,917 36,158
Amounts owed by group undertakings 674,279 611,103
Other debtors 40,761 95,391
738,957 742,652

Amounts falling due after more than one year:
Other debtors 49,931 49,931

Aggregate amounts 788,888 792,583

INTERESTME FINANCIAL PLANNING LIMITED (REGISTERED NUMBER: 07310886)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Unlisted investments 57,048 21,836

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 63,050 63,050
Hire purchase contracts - 805
Trade creditors 18,475 54,405
Taxation and social security 104,064 52,684
Other creditors 47,096 43,943
232,685 214,887

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 195,840 242,771

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in the other debtors more than one year is an amount of £49,931 (2023: £49,931) due from connected companies with common directorship.

Included in other creditors less than one year is an amount of £Nil (2023: £2,270) due to the directors of the company.