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North West Financial Advisers Limited

(formerly NORTH WEST IFA LIMITED)

Registered Number
SC573516
(Scotland)

Unaudited Financial Statements for the Year ended
31 August 2024

North West Financial Advisers Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

Meldrum, Alexander Macgregor

Registered Address

Flat 3/2, 57 Hughenden Lane
Glasgow
G12 9XN

Registered Number

SC573516 (Scotland)
North West Financial Advisers Limited
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,7144,760
3,7144,760
Current assets
Debtors418,695237
Cash at bank and on hand9,00529,335
27,70029,572
Creditors amounts falling due within one year5(18,043)(23,561)
Net current assets (liabilities)9,6576,011
Total assets less current liabilities13,37110,771
Creditors amounts falling due after one year6(13,248)-
Net assets12310,771
Capital and reserves
Called up share capital100100
Profit and loss account2310,671
Shareholders' funds12310,771
The financial statements were approved and authorised for issue by the Director on 8 January 2025, and are signed on its behalf by:
Meldrum, Alexander Macgregor
Director
Registered Company No. SC573516
North West Financial Advisers Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
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.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings-6.5
Vehicles25-
Office Equipment-3
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 September 235003,1347,14510,779
Additions--1,6131,613
At 31 August 245003,1348,75812,392
Depreciation and impairment
At 01 September 233371,8793,8036,019
Charge for year414702,1482,659
At 31 August 243782,3495,9518,678
Net book value
At 31 August 241227852,8073,714
At 31 August 231631,2553,3424,760
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables14,200-
Other debtors4,495237
Total18,695237
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables993-
Taxation and social security16,14622,544
Other creditors9041,017
Total18,04323,561
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,248-
Total13,248-