CMIS Independent Financial Advisors Limited
Unaudited Financial Statements
For the year ended 31 March 2025
Pages for Filing with Registrar
Company Registration No. 11677393 (England and Wales)
CMIS Independent Financial Advisors Limited
Company Information
Directors
D.W. Boone
S.R. Dean
Company number
11677393
Registered office
5 London Hill
Rayleigh
Essex
SS6 7HW
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
CMIS Independent Financial Advisors Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CMIS Independent Financial Advisors Limited
Balance Sheet
As at 31 March 2025
Page 1
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,877
5,753
Current assets
Debtors
4
2,288
121,865
Cash at bank and in hand
142,199
17,777
144,487
139,642
Creditors: amounts falling due within one year
5
(91,813)
(83,842)
Net current assets
52,674
55,800
Net assets
55,551
61,553
Capital and reserves
Called up share capital
6
8,000
8,000
Profit and loss reserves
47,551
53,553
Total equity
55,551
61,553
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 May 2025 and are signed on its behalf by:
D.W. Boone
S.R. Dean
Director
Director
Company Registration No. 11677393
CMIS Independent Financial Advisors Limited
Notes to the Financial Statements
For the year ended 31 March 2025
Page 2
1
Accounting policies
Company information
CMIS Independent Financial Advisors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 London Hill, Rayleigh, Essex, SS6 7HW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office Equipment
3 year straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The Company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
CMIS Independent Financial Advisors Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
Page 3
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 8 (2024: 8).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024 and 31 March 2025
19,724
Depreciation and impairment
At 1 April 2024
13,971
Depreciation charged in the year
2,876
At 31 March 2025
16,847
Carrying amount
At 31 March 2025
2,877
At 31 March 2024
5,753
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
-
78,000
Prepayments and accrued income
2,288
43,865
2,288
121,865
CMIS Independent Financial Advisors Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
Page 4
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
22,141
Trade creditors
123
1,630
Corporation tax
83,546
56,764
Other taxation and social security
2,130
1,807
Other creditors
2,514
-
Accruals and deferred income
3,500
1,500
91,813
83,842
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
8,000
8,000
8,000
8,000
7
Related party transactions
Included in other debtors are amounts due from the directors of £nil (2024: £78,000).
Included in other creditors are amounts due to the directors of £2,514 (2024: £nil).
During the period the company paid dividends of £254,000 (2024: £158,144) to the directors.
During the period the company paid £4,000 (2024: £4,000) to Filedot Limited, a company related by virtue of common control.