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REGISTERED NUMBER: 01829773 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Trevor Downing Financial Management
(IFA) Limited

Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Trevor Downing Financial Management
(IFA) Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T J Downing
T Woolley





REGISTERED OFFICE: Market Square House
Market Square
Westerham
Kent
TN16 1SR





REGISTERED NUMBER: 01829773 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 215,255 -
Tangible assets 5 220,436 174,283
435,691 174,283

CURRENT ASSETS
Debtors 6 654,103 606,566
Cash at bank 256,215 107,999
910,318 714,565
CREDITORS
Amounts falling due within one year 7 893,731 369,770
NET CURRENT ASSETS 16,587 344,795
TOTAL ASSETS LESS CURRENT
LIABILITIES

452,278

519,078

CREDITORS
Amounts falling due after more than one
year

8

(82,973

)

(25,000

)

PROVISIONS FOR LIABILITIES (45,833 ) (33,114 )
NET ASSETS 323,472 460,964

CAPITAL AND RESERVES
Called up share capital 9 1,500 1,000
Capital redemption reserve 250 250
Retained earnings 321,722 459,714
SHAREHOLDERS' FUNDS 323,472 460,964

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.

Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)

Balance Sheet - continued
30 April 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





T J Downing - Director


Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)

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

1. STATUTORY INFORMATION

Trevor Downing Financial Management (IFA) Limited 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 received or receivable of the company financial intermediation activities and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are 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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.


Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 224,614
At 30 April 2024 224,614
AMORTISATION
Charge for year 9,359
At 30 April 2024 9,359
NET BOOK VALUE
At 30 April 2024 215,255

Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 223,311
Additions 70,996
At 30 April 2024 294,307
DEPRECIATION
At 1 May 2023 49,028
Charge for year 24,843
At 30 April 2024 73,871
NET BOOK VALUE
At 30 April 2024 220,436
At 30 April 2023 174,283

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 101,580 48,487
Other debtors 552,523 558,079
654,103 606,566

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 10,000 7,500
Hire purchase contracts 848 -
Trade creditors 2,693 2,367
Other creditors 880,190 359,903
893,731 369,770

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 12,500 25,000
Hire purchase contracts 17,973 -
Other creditors 52,500 -
82,973 25,000

Trevor Downing Financial Management
(IFA) Limited (Registered number: 01829773)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
135,000 Ordinary A shares 0.01 1,350 900
15,000 Ordinary B shares 0.01 150 100
1,500 1,000

The following shares were allotted and fully paid for cash at par during the year:

45,000 Ordinary A shares shares of 0.01 each
5,000 Ordinary B shares shares of 0.01 each

10. RELATED PARTY DISCLOSURES

Included in debtors at the balance sheet date are amounts of £485,114, £8,792 and £9,228 (2023 - £488,433, £8,162 and £4,373) due from a companies in which the director has a material interest.