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REGISTERED NUMBER: 04868939 (England and Wales)












Professional Financial Centre (Cornwall)
Limited

Unaudited Financial Statements

for the Year Ended 31st December 2024






Professional Financial Centre (Cornwall)
Limited (Registered number: 04868939)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Professional Financial Centre (Cornwall)
Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: T J Trezise
S Bonney
A R Deacon





SECRETARY: W R Richards





REGISTERED OFFICE: 9 Killigrew Street
Falmouth
Cornwall
TR11 3PG





REGISTERED NUMBER: 04868939 (England and Wales)





ACCOUNTANTS: Hodgsons
Chartered Accountants
48 Arwenack Street
Falmouth
Cornwall
TR11 3JH

Professional Financial Centre (Cornwall)
Limited (Registered number: 04868939)

Statement of Financial Position
31st December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Goodwill 4 - -
Tangible assets 5 5,353 3,432
5,353 3,432

CURRENT ASSETS
Debtors 6 25,568 77,836
Cash at bank and in hand 274,493 232,976
300,061 310,812
CREDITORS
Amounts falling due within one year 7 (39,818 ) (33,574 )
NET CURRENT ASSETS 260,243 277,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

265,596

280,670

PROVISIONS FOR LIABILITIES (1,190 ) (733 )
NET ASSETS 264,406 279,937

CAPITAL AND RESERVES
Called up share capital 9 5,556 6,667
Capital redemption reserve 3,333 2,222
Retained earnings 255,517 271,048
SHAREHOLDERS' FUNDS 264,406 279,937

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Professional Financial Centre (Cornwall)
Limited (Registered number: 04868939)

Statement of Financial Position - continued
31st December 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 11th February 2025 and were signed on its behalf by:





T J Trezise - Director


Professional Financial Centre (Cornwall)
Limited (Registered number: 04868939)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Professional Financial Centre (Cornwall) 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. The financial statements cover a single entity.

The presentation currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements have been rounded to the nearest Pound.

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 represents invoiced sale of services and commission receivable. The company is not registered for VAT and therefore the turnover does not include VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised evenly over its estimated life of 10 years.

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

Pension costs and other post-retirement benefits
The company makes contributions to employees' own personal pensions. The contributions are charged to the profit and loss account in the period to which they relate.

Deferred taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all timing differences.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 12 ) .

Professional Financial Centre (Cornwall)
Limited (Registered number: 04868939)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2024
and 31st December 2024 20,785
AMORTISATION
At 1st January 2024
and 31st December 2024 20,785
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
At 1st January 2024 25,741
Additions 3,787
Disposals (9,594 )
At 31st December 2024 19,934
DEPRECIATION
At 1st January 2024 22,309
Charge for year 1,866
Eliminated on disposal (9,594 )
At 31st December 2024 14,581
NET BOOK VALUE
At 31st December 2024 5,353
At 31st December 2023 3,432

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 14,168 66,109
Prepayments 11,400 11,727
25,568 77,836

Professional Financial Centre (Cornwall)
Limited (Registered number: 04868939)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Tax 19,485 15,293
Other creditors 13 13
Accruals and deferred income 20,320 18,268
39,818 33,574

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.24 31.12.23
£    £   
Within one year 11,556 19,810
Between one and five years - 11,556
11,556 31,366

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
5,551 Ordinary 'A' £1 5,551 6,661
(31.12.23 - 6,661 )
5 Ordinary 'B' £1 5 6
(31.12.23 - 6 )
5,556 6,667