Registered number
04992573
MORTGAGE ADVICE SERVICE LTD
Filleted Accounts
31 March 2024
MORTGAGE ADVICE SERVICE LTD
Registered number: 04992573
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,923 4,013
Current assets
Cash at bank and in hand 38,574 51,388
Creditors: amounts falling due within one year 4 (2,888) (7,140)
Net current assets 35,686 44,248
Net assets 39,609 48,261
Capital and reserves
Called up share capital 2 2
Profit and loss account 39,607 48,259
Shareholder's funds 39,609 48,261
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Elias
Director
Approved by the board on 2 November 2024
MORTGAGE ADVICE SERVICE LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 or 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 9,023
Additions 1,078
Disposals (999)
At 31 March 2024 9,102
Depreciation
At 1 April 2023 5,010
Charge for the year 981
On disposals (812)
At 31 March 2024 5,179
Net book value
At 31 March 2024 3,923
At 31 March 2023 4,013
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,698 5,388
Other creditors 1,190 1,752
2,888 7,140
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Elias
Directors loan account (881) 40,521 (39,960) (320)
(881) 40,521 (39,960) (320)
6 Controlling party
The company is ultimately controlled by the director by virtue of his shareholding.
7 Other information
MORTGAGE ADVICE SERVICE LTD is a private company limited by shares and incorporated in England. Its registered office is:
28 Newport Road
Risca
Newport
Gwent
NP11 6LW
MORTGAGE ADVICE SERVICE LTD 04992573 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr A Elias No description of principal activity 04992573 2022-04-01 2023-03-31 04992573 core:WithinOneYear 2023-03-31 04992573 core:ShareCapital 2023-03-31 04992573 core:RetainedEarningsAccumulatedLosses 2023-03-31 04992573 2023-04-01 2024-03-31 04992573 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04992573 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04992573 bus:Director40 2023-04-01 2024-03-31 04992573 1 2023-04-01 2024-03-31 04992573 2 2023-04-01 2024-03-31 04992573 core:PlantMachinery 2023-04-01 2024-03-31 04992573 bus:Director1 2023-04-01 2024-03-31 04992573 bus:Director1 1 2023-04-01 2024-03-31 04992573 countries:England 2023-04-01 2024-03-31 04992573 bus:FRS102 2023-04-01 2024-03-31 04992573 bus:FilletedAccounts 2023-04-01 2024-03-31 04992573 2024-03-31 04992573 core:WithinOneYear 2024-03-31 04992573 core:ShareCapital 2024-03-31 04992573 core:RetainedEarningsAccumulatedLosses 2024-03-31 04992573 core:PlantMachinery 2024-03-31 04992573 bus:Director1 1 2024-03-31 04992573 2023-03-31 04992573 core:PlantMachinery 2023-03-31 04992573 bus:Director1 1 2023-03-31 iso4217:GBP xbrli:pure