Erin Mortgage and Protection Limited 14648151 false 2023-02-08 2024-02-28 2024-02-28 The principal activity of the company is mortgage brokers Digita Accounts Production Advanced 6.30.9574.0 true true 14648151 2023-02-08 2024-02-28 14648151 2024-02-28 14648151 bus:OrdinaryShareClass1 2024-02-28 14648151 core:CurrentFinancialInstruments 2024-02-28 14648151 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 14648151 core:Goodwill 2024-02-28 14648151 core:FurnitureFittingsToolsEquipment 2024-02-28 14648151 bus:SmallEntities 2023-02-08 2024-02-28 14648151 bus:AuditExemptWithAccountantsReport 2023-02-08 2024-02-28 14648151 bus:FilletedAccounts 2023-02-08 2024-02-28 14648151 bus:SmallCompaniesRegimeForAccounts 2023-02-08 2024-02-28 14648151 bus:RegisteredOffice 2023-02-08 2024-02-28 14648151 bus:Director1 2023-02-08 2024-02-28 14648151 bus:OrdinaryShareClass1 2023-02-08 2024-02-28 14648151 bus:PrivateLimitedCompanyLtd 2023-02-08 2024-02-28 14648151 core:Goodwill 2023-02-08 2024-02-28 14648151 core:FurnitureFittingsToolsEquipment 2023-02-08 2024-02-28 14648151 countries:AllCountries 2023-02-08 2024-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14648151

Erin Mortgage and Protection Limited

Unaudited Filleted Financial Statements

for the Period from 8 February 2023 to 28 February 2024

 

Erin Mortgage and Protection Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Erin Mortgage and Protection Limited

Company Information

Director

Mrs Catherine Teresa Garbutt

Registered office

C/o HMB Accountants 18A Manor Way
Belasis Hall Technology Park
Billingham
Durham
TS23 4HN

Accountants

HMB Accountants Limited
18a Manor Way
Belasis Hall Technology Park
Billingham
TS23 4HN

 

Erin Mortgage and Protection Limited

(Registration number: 14648151)
Balance Sheet as at 28 February 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

27,000

Tangible assets

5

3,508

 

30,508

Current assets

 

Debtors

6

2,679

Creditors: Amounts falling due within one year

7

(22,943)

Net current liabilities

 

(20,264)

Net assets

 

10,244

Capital and reserves

 

Called up share capital

8

100

Retained earnings

10,144

Shareholders' funds

 

10,244

For the financial period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 her 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 7 February 2025
 

.........................................
Mrs Catherine Teresa Garbutt
Director

 

Erin Mortgage and Protection Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 28 February 2024

1

General information

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

The address of its registered office is:
C/o HMB Accountants 18A Manor Way
Belasis Hall Technology Park
Billingham
Durham
TS23 4HN
England

These financial statements were authorised for issue by the director on 7 February 2025.

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.

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.

 

Erin Mortgage and Protection Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 28 February 2024

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:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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

 

Erin Mortgage and Protection Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 28 February 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Erin Mortgage and Protection Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 28 February 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

30,000

30,000

At 28 February 2024

30,000

30,000

Amortisation

Amortisation charge

3,000

3,000

At 28 February 2024

3,000

3,000

Carrying amount

At 28 February 2024

27,000

27,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

4,678

4,678

At 28 February 2024

4,678

4,678

Depreciation

Charge for the period

1,170

1,170

At 28 February 2024

1,170

1,170

Carrying amount

At 28 February 2024

3,508

3,508

6

Debtors

Current

2024
£

Other debtors

2,679

 

2,679

7

Creditors

Creditors: amounts falling due within one year

 

Erin Mortgage and Protection Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 28 February 2024

Note

2024
£

Due within one year

 

Loans and borrowings

9

2,566

Taxation and social security

 

17,500

Accruals and deferred income

 

2,146

Other creditors

 

731

 

22,943

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares of £1 each

100

100

   

9

Loans and borrowings

Current loans and borrowings

2024
£

Bank overdrafts

2,566

10

Dividends

2024

£

 

11

Related party transactions

 

Erin Mortgage and Protection Limited

Notes to the Unaudited Financial Statements for the Period from 8 February 2023 to 28 February 2024

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

Remuneration

6,000