REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
Moneyweb Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2024 |
for |
Moneyweb Limited |
Moneyweb Limited (Registered number: 03485003) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Moneyweb Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Hallgarth |
Pickering |
North Yorkshire |
YO18 7AW |
Moneyweb Limited (Registered number: 03485003) |
Abridged Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Moneyweb Limited (Registered number: 03485003) |
Abridged Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Moneyweb Limited (Registered number: 03485003) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Moneyweb Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with applicable United Kingdom Financial Reporting Standards. |
Turnover |
Turnover comprises the value of commissions earned during the year. Provision is made for the repayment of indemnity commission based upon the level of such commission repaid during the year. |
Goodwill |
Goodwill is amortised over its estimated useful economic life of 10 years, on a straight line basis. |
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 |
Short leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Moneyweb Limited (Registered number: 03485003) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Operating lease agreements |
Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease. |
Provisions |
Provision for repayments of indemnity commissions and claims are calculated based upon the level of clawback and the amount of work written, and the expected outcome of uninsured claims at current market values. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
AMORTISATION |
At 1 January 2024 |
Amortisation for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Moneyweb Limited (Registered number: 03485003) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
Additions |
At 31 December 2024 |
DEPRECIATION |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
6. | FIXED ASSET INVESTMENTS |
In the year to 31st December 2023, Moneyweb Limited purchased 100% of the shares in ABC Financial Planning Limited which are held at the cost value of £86,200. |
7. | CAPITAL COMMITMENTS |
31.12.24 | 31.12.23 |
£ | £ |
Contracted but not provided for in the |
financial statements |
Moneyweb Limited (Registered number: 03485003) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
8. | RELATED PARTY DISCLOSURES |
There was an amount outstanding at the end of the year of £45,287 (2023: £43,942) repayable by the director Mr PA Robinson. Interest at the rate of 2.5% is chargeable by the company on the loan. |
There was also an amount outstanding at the year end of £49,922 (2023: £47,550) repayable by the director, Mrs RM Robinson. Interest at the rate of 2.5% is chargeable by the company on the loan. |
As at the 31 December 2024, the company was owed £100,000 (2023: £100,000) from its parent company, Moneyweb 123 Ltd. |
On the 12th February 2024, the company made a loan to its subsidiary, ABC Financial Planning Limited, for £20,000. This loan remained outstanding at the year end. It is interest free and repayable on demand. |