| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 October 2024 |
| for |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 October 2024 |
| for |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED (REGISTERED NUMBER: 02585129) |
| Contents of the Financial Statements |
| for the year ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED |
| Company Information |
| for the year ended 31 October 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 31-33 Victoria Road |
| Darlington |
| Co. Durham |
| DL1 5SB |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED (REGISTERED NUMBER: 02585129) |
| Balance Sheet |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Fair value reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED (REGISTERED NUMBER: 02585129) |
| Notes to the Financial Statements |
| for the year ended 31 October 2024 |
| 1. | STATUTORY INFORMATION |
| Research Independent Financial Services Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents advisor charges receivable from insurance companies which are taken into account on the inception or renewal of the relevant policy. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Items of property, plant and equipment are measured at cost, less accumulated depreciation and any accumulated impairment losses. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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. |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED (REGISTERED NUMBER: 02585129) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid or received under operating leases are charged or credited to the profit and loss account on a straight line basis over the period of the lease. |
| 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. |
| Investments |
| Fixed asset investments are stated at market value. The unrealised surplus less related deferred tax is transferred to a non-distributable fair value reserve. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 November 2023 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 October 2024 |
| DEPRECIATION |
| At 1 November 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| The net book value of tangible fixed assets includes £ 8,795 (2023 - £ 11,518 ) in respect of assets held under finance leases. |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED (REGISTERED NUMBER: 02585129) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 November 2023 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| Cost or valuation at 31 October 2024 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2024 | 60,103 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Finance leases |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Finance leases |
| RESEARCH INDEPENDENT FINANCIAL |
| SERVICES LIMITED (REGISTERED NUMBER: 02585129) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 November 2023 |
| Investment revaluation in year | 8,741 |
| At 31 October 2024 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | RELATED PARTY DISCLOSURES |
| Dividends of £20,000 were owed to the director at the Balance Sheet date. (2023: £20,000) |