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REGISTERED NUMBER: 04407302 (England and Wales)















Paul Cliff Financial Management Ltd

Unaudited Financial Statements for the Year Ended 30 April 2024






Paul Cliff Financial Management Ltd (Registered number: 04407302)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Paul Cliff Financial Management Ltd

Company Information
for the Year Ended 30 April 2024







Directors: P E Cliff
P N Cliff





Registered office: 35 Copperfields
Chew Moor
Lostock
Bolton
Greater Manchester
BL6 4HZ





Registered number: 04407302 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Paul Cliff Financial Management Ltd (Registered number: 04407302)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 180,000 180,000
Tangible assets 5 869 1,260
180,869 181,260

Current assets
Debtors 6 247,944 191,046
Cash at bank 5,722 -
253,666 191,046
Creditors
Amounts falling due within one year 7 81,561 72,399
Net current assets 172,105 118,647
Total assets less current liabilities 352,974 299,907

Creditors
Amounts falling due after more than
one year

8

(11,665

)

(22,499

)

Provisions for liabilities 9 (35,250 ) (20,674 )
Net assets 306,059 256,734

Paul Cliff Financial Management Ltd (Registered number: 04407302)

Statement of Financial Position - continued
30 April 2024

2024 2023
Notes £    £    £    £   
Capital and reserves
Called up share capital 10 100 100
Retained earnings 305,959 256,634
Shareholders' funds 306,059 256,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





P N Cliff - Director


Paul Cliff Financial Management Ltd (Registered number: 04407302)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Paul Cliff Financial Management Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
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
Turnover is measured at the fair value of the consideration receivable for commissions after adjusting for potential lapses.

Goodwill
Amortisation of goodwill has not been provided for by the company as in the opinion of the directors it has an indefinite useful economic life. This accounting policy departs from the requirements of FRS 102 to amortise goodwill over a finite period. The effect of the departure is that amortisation as required by the requirements of FRS 102 has not been accounted for. If amortisation had been accounted for the charge for the year would have amounted to £18,000 and the profit for the year reduced accordingly.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% Straight line on cost

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Paul Cliff Financial Management Ltd (Registered number: 04407302)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 May 2023
and 30 April 2024 180,000
Net book value
At 30 April 2024 180,000
At 30 April 2023 180,000

5. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 May 2023
and 30 April 2024 2,600
Depreciation
At 1 May 2023 1,340
Charge for year 391
At 30 April 2024 1,731
Net book value
At 30 April 2024 869
At 30 April 2023 1,260

Paul Cliff Financial Management Ltd (Registered number: 04407302)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 9,630 7,937
Other debtors 238,314 183,109
247,944 191,046

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loan and overdrafts 10,000 14,469
Trade creditors 2,835 4,005
Taxation and social security 64,799 49,559
Other creditors 3,927 4,366
81,561 72,399

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 11,665 22,499

9. Provisions for liabilities
2024 2023
£    £   
Other provisions 35,250 20,674

Other
provisions
£   
Balance at 1 May 2023 20,674
Charge to Statement of Income and Retained Earnings during year 14,576
Balance at 30 April 2024 35,250

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

Paul Cliff Financial Management Ltd (Registered number: 04407302)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
P N Cliff and P E Cliff
Balance outstanding at start of year 136,665 157,988
Amounts advanced 167,163 107,765
Amounts repaid (116,871 ) (129,088 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 186,957 136,665