BrightAccountsProduction v1.0.0 v1.0.0 2023-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is to carry on business as a Financial Solutions Provider. 5 November 2024 NI056386 2024-09-30 NI056386 2023-09-30 NI056386 2022-09-30 NI056386 2023-10-01 2024-09-30 NI056386 2022-10-01 2023-09-30 NI056386 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI056386 uk-curr:PoundSterling 2023-10-01 2024-09-30 NI056386 uk-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI056386 uk-bus:FullAccounts 2023-10-01 2024-09-30 NI056386 uk-bus:Director1 2023-10-01 2024-09-30 NI056386 uk-bus:CompanySecretary1 2023-10-01 2024-09-30 NI056386 uk-bus:RegisteredOffice 2023-10-01 2024-09-30 NI056386 uk-bus:Agent1 2023-10-01 2024-09-30 NI056386 uk-core:ShareCapital 2024-09-30 NI056386 uk-core:ShareCapital 2023-09-30 NI056386 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI056386 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI056386 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-09-30 NI056386 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI056386 uk-bus:FRS102 2023-10-01 2024-09-30 NI056386 uk-core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI056386 uk-core:WithinOneYear 2024-09-30 NI056386 uk-core:WithinOneYear 2023-09-30 NI056386 uk-core:AfterOneYear 2024-09-30 NI056386 uk-core:AfterOneYear 2023-09-30 NI056386 2023-10-01 2024-09-30 NI056386 uk-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI056386
 
 
M Reynolds Financial Solutions Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 September 2024
M Reynolds Financial Solutions Limited
DIRECTOR AND OTHER INFORMATION

 
Director Mark Reynolds
 
 
Company Secretary Janette Reynolds
 
 
Company Registration Number NI056386
 
 
Registered Office and Business Address Suite 3
A:Tek Building
Edenaveys Road
Armagh
Co. Armagh
BT60 1HS
United Kingdom
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
 
 
Bankers Santander
  Business Banking Centre
  Abbey National House
  301 St Vincent Street
  Galsgow



M Reynolds Financial Solutions Limited
Company Registration Number: NI056386
BALANCE SHEET
as at 30 September 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 2,091 3,501
───────── ─────────
 
Current Assets
Debtors 5 1,274 1,340
Cash and cash equivalents 94,923 80,927
───────── ─────────
96,197 82,267
───────── ─────────
Creditors: amounts falling due within one year 6 (19,754) (20,611)
───────── ─────────
Net Current Assets 76,443 61,656
───────── ─────────
Total Assets less Current Liabilities 78,534 65,157
 
Creditors:
amounts falling due after more than one year 7 (43,949) (35,949)
───────── ─────────
Net Assets 34,585 29,208
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 34,584 29,207
───────── ─────────
Equity attributable to owners of the company 34,585 29,208
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 5 November 2024
           
           
________________________________          
Mark Reynolds          
Director          
           



M Reynolds Financial Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
M Reynolds Financial Solutions Limited is a company limited by shares incorporated in Northern Ireland.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 September 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2023 - 1).
 
  2024 2023
  Number Number
 
Director 1 1
  ───────── ─────────
  1 1
  ═════════ ═════════
       
4. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost or Valuation
At 1 October 2023 13,219 13,219
  ───────── ─────────
 
At 30 September 2024 13,219 13,219
  ───────── ─────────
Depreciation
At 1 October 2023 9,718 9,718
Charge for the financial year 1,410 1,410
  ───────── ─────────
At 30 September 2024 11,128 11,128
  ───────── ─────────
Net book value
At 30 September 2024 2,091 2,091
  ═════════ ═════════
At 30 September 2023 3,501 3,501
  ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Prepayments and accrued income 1,274 1,340
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Taxation  (Note 8) 8,160 6,895
Director's current account 9,694 11,816
Accruals 1,900 1,900
  ───────── ─────────
  19,754 20,611
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Director's loan accounts 43,949 35,949
  ═════════ ═════════
 
       
8. Taxation 2024 2023
  £ £
 
Creditors:
Corporation tax 8,160 6,895
  ═════════ ═════════