Sense Financial Advice Limited 07931576 true 2024-04-01 2024-11-30 2024-11-30 The principal activity of the company is financial advice Digita Accounts Production Advanced 6.30.9574.0 true true 07931576 2024-04-01 2024-11-30 07931576 2024-11-30 07931576 bus:OrdinaryShareClass1 2024-11-30 07931576 bus:OrdinaryShareClass2 2024-11-30 07931576 core:CurrentFinancialInstruments 2024-11-30 07931576 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 07931576 core:FurnitureFittings 2024-11-30 07931576 bus:SmallEntities 2024-04-01 2024-11-30 07931576 bus:AuditExemptWithAccountantsReport 2024-04-01 2024-11-30 07931576 bus:FilletedAccounts 2024-04-01 2024-11-30 07931576 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-11-30 07931576 bus:RegisteredOffice 2024-04-01 2024-11-30 07931576 bus:Director1 2024-04-01 2024-11-30 07931576 bus:OrdinaryShareClass1 2024-04-01 2024-11-30 07931576 bus:OrdinaryShareClass2 2024-04-01 2024-11-30 07931576 bus:EntityNoLongerTradingButTradedInPast 2024-04-01 2024-11-30 07931576 bus:PrivateLimitedCompanyLtd 2024-04-01 2024-11-30 07931576 core:ComputerEquipment 2024-04-01 2024-11-30 07931576 core:FurnitureFittings 2024-04-01 2024-11-30 07931576 countries:England 2024-04-01 2024-11-30 07931576 2024-03-31 07931576 core:FurnitureFittings 2024-03-31 07931576 2023-04-01 2024-03-31 07931576 2024-03-31 07931576 bus:OrdinaryShareClass1 2024-03-31 07931576 bus:OrdinaryShareClass2 2024-03-31 07931576 core:CurrentFinancialInstruments 2024-03-31 07931576 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 07931576 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07931576

Sense Financial Advice Limited

trading as SFA

Unaudited Filleted Financial Statements

for the Period from 1 April 2024 to 30 November 2024

 

Sense Financial Advice Limited

trading as SFA

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Sense Financial Advice Limited

trading as SFA

Company Information

Director

Mr Russell Hirst

Registered office

18 Spencers Holt
Harrogate
HG1 3DL

Accountants

Axiom Accounting 39 Limited
Chartered Certified Accountants
7 Hornbeam Square South
Harrogate
North Yorkshire
HG2 8NB

 

Sense Financial Advice Limited

trading as SFA

(Registration number: 07931576)
Balance Sheet as at 30 November 2024

Note

2024
£

2024
£

Current assets

 

Debtors

5

-

24,452

Creditors: Amounts falling due within one year

6

(14,078)

(39,142)

Net liabilities

 

(14,078)

(14,690)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(14,178)

(14,790)

Shareholders' deficit

 

(14,078)

(14,690)

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

For the financial period ending 30 November 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 December 2024
 

.........................................
Mr Russell Hirst
Director

 

Sense Financial Advice Limited

trading as SFA

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
18 Spencers Holt
Harrogate
HG1 3DL

The principal place of business is:
18 Spencers Holt
Harrogate
HG1 3DL

These financial statements were authorised for issue by the director on 2 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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

 

Sense Financial Advice Limited

trading as SFA

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 November 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% per annum in equal instalments

Fixtures ans fittings

15% per annum in equal instalments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Sense Financial Advice Limited

trading as SFA

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 November 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2024 - 2).

 

Sense Financial Advice Limited

trading as SFA

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 November 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 April 2024

3,285

3,285

At 30 November 2024

3,285

3,285

Depreciation

At 1 April 2024

3,285

3,285

At 30 November 2024

3,285

3,285

Carrying amount

At 30 November 2024

-

-

5

Debtors

Current

Note

2024
£

2024
£

Amounts owed by related parties

-

24,452

   

-

24,452

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2024
£

Due within one year

 

Loans and borrowings

8

-

4,935

Taxation and social security

 

144

-

Other creditors

 

13,934

34,207

 

14,078

39,142

7

Share capital

Allotted, called up and fully paid shares

 

Sense Financial Advice Limited

trading as SFA

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 November 2024

2024

2024

No.

£

No.

£

Ordinary shares of £1 each

95

95

95

95

B Ordinary shares of £1 each

5

5

5

5

100

100

100

100

8

Loans and borrowings

Current loans and borrowings

2024
£

2024
£

Bank overdrafts

-

4,935

9

Dividends

Final dividends paid

2024
£

2024
£

Final dividend of £Nil per each Ordinary shares

-

-