Caseware UK (AP4) 2023.0.135 2023.0.135 6falsetrue2024-01-01falseMortgage Brokers5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05973830 2024-01-01 2024-12-31 05973830 2023-01-01 2023-12-31 05973830 2024-12-31 05973830 2023-12-31 05973830 c:Director1 2024-01-01 2024-12-31 05973830 d:OfficeEquipment 2024-01-01 2024-12-31 05973830 d:OfficeEquipment 2024-12-31 05973830 d:OfficeEquipment 2023-12-31 05973830 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 05973830 d:CurrentFinancialInstruments 2024-12-31 05973830 d:CurrentFinancialInstruments 2023-12-31 05973830 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 05973830 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 05973830 d:ShareCapital 2024-12-31 05973830 d:ShareCapital 2023-12-31 05973830 d:RetainedEarningsAccumulatedLosses 2024-12-31 05973830 d:RetainedEarningsAccumulatedLosses 2023-12-31 05973830 c:OrdinaryShareClass1 2024-01-01 2024-12-31 05973830 c:OrdinaryShareClass1 2024-12-31 05973830 c:OrdinaryShareClass1 2023-12-31 05973830 c:OrdinaryShareClass2 2024-01-01 2024-12-31 05973830 c:OrdinaryShareClass2 2024-12-31 05973830 c:OrdinaryShareClass2 2023-12-31 05973830 c:OrdinaryShareClass3 2024-01-01 2024-12-31 05973830 c:OrdinaryShareClass3 2024-12-31 05973830 c:OrdinaryShareClass3 2023-12-31 05973830 c:FRS102 2024-01-01 2024-12-31 05973830 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 05973830 c:FullAccounts 2024-01-01 2024-12-31 05973830 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05973830 d:WithinOneYear 2024-12-31 05973830 d:WithinOneYear 2023-12-31 05973830 d:BetweenOneFiveYears 2024-12-31 05973830 d:BetweenOneFiveYears 2023-12-31 05973830 2 2024-01-01 2024-12-31 05973830 e:PoundSterling 2024-01-01 2024-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05973830









MORE CHOICE FINANCIAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 December 2024

 
MORE CHOICE FINANCIAL LTD
Registered number: 05973830

BALANCE SHEET
As at 31 December 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
4,682
4,292

  
4,682
4,292

Current assets
  

Debtors: amounts falling due within one year
 6 
71,699
62,551

Cash at bank and in hand
  
248,974
231,576

  
320,673
294,127

Creditors: amounts falling due within one year
 7 
(200,639)
(167,688)

Net current assets
  
 
 
120,034
 
 
126,439

Total assets less current liabilities
  
124,716
130,731

  

Net assets
  
124,716
130,731


Capital and reserves
  

Called up share capital 
 8 
200
200

Profit and loss account
  
124,516
130,531

  
124,716
130,731


Page 1

 
MORE CHOICE FINANCIAL LTD
Registered number: 05973830
    
BALANCE SHEET (CONTINUED)
As at 31 December 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 January 2025.




J D Myers
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MORE CHOICE FINANCIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024

1.


General information

More Choice Financial Ltd is a private limited liability company with share capital incorporated in England & Wales. The company's registered office and principle place of business is 7 Station Square, Flitwick, Bedford MK45 1DP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The functional and presentational currency is GB£ and the amounts in the financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
MORE CHOICE FINANCIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
MORE CHOICE FINANCIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amounts 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 considered to be 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 revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

Page 5

 
MORE CHOICE FINANCIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024

4.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 5).


5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2024
29,778


Additions
2,300



At 31 December 2024

32,078



Depreciation


At 1 January 2024
25,486


Charge for the year on owned assets
1,910



At 31 December 2024

27,396



Net book value



At 31 December 2024
4,682



At 31 December 2023
4,292

Page 6

 
MORE CHOICE FINANCIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024

6.


Debtors

2024
2023
£
£


Prepayments and accrued income
71,699
62,551

71,699
62,551



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
51,131
32,242

Corporation tax
109,637
103,393

Other taxation and social security
7,504
3,102

Other creditors
10,270
10,744

Accruals and deferred income
22,097
18,207

200,639
167,688



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



95 (2023 - 95) Ordinary A shares of £1 each
95
95
95 (2023 - 95) Ordinary B shares of £1 each
95
95
10 (2023 - 10) Ordinary C shares of £1 each
10
10

200

200



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £15,112 (2023 - £14,357). Contributions totalling £nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.

Page 7

 
MORE CHOICE FINANCIAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2024

10.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
13,000
13,000

Later than 1 year and not later than 5 years
13,000
26,000

26,000
39,000

 
Page 8