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REGISTERED NUMBER: 02585129 (England and Wales)















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: P G Page





SECRETARY: Mrs C Page





REGISTERED OFFICE: Ellerbeck House
71 Woodland Road
Darlington
Co. Durham
DL3 7BH





REGISTERED NUMBER: 02585129 (England and Wales)





AUDITORS: Xeinadin Audit Limited
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 78,896 75,069
Investments 5 60,103 38,746
138,999 113,815

CURRENT ASSETS
Debtors 6 43,094 51,181
Cash at bank and in hand 115,561 101,563
158,655 152,744
CREDITORS
Amounts falling due within one year 7 96,725 82,356
NET CURRENT ASSETS 61,930 70,388
TOTAL ASSETS LESS CURRENT
LIABILITIES

200,929

184,203

CREDITORS
Amounts falling due after more than one year 8 5,948 8,671
NET ASSETS 194,981 175,532

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 900 900
Fair value reserve 9 11,712 2,971
Retained earnings 182,269 171,561
SHAREHOLDERS' FUNDS 194,981 175,532

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 Profit and Loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2025 and were signed by:





P G Page - Director


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 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 presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance and over the term of the lease
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 87,611 132,785 30,028 250,424
Additions 579 26,029 790 27,398
Disposals (8,695 ) (14,855 ) - (23,550 )
At 31 October 2024 79,495 143,959 30,818 254,272
DEPRECIATION
At 1 November 2023 67,733 80,758 26,864 175,355
Charge for year 4,051 14,468 2,341 20,860
Eliminated on disposal (8,628 ) (12,211 ) - (20,839 )
At 31 October 2024 63,156 83,015 29,205 175,376
NET BOOK VALUE
At 31 October 2024 16,339 60,944 1,613 78,896
At 31 October 2023 19,878 52,027 3,164 75,069

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 38,746
Additions 10,091
Disposals (159 )
Revaluations 11,425
At 31 October 2024 60,103
NET BOOK VALUE
At 31 October 2024 60,103
At 31 October 2023 38,746

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 17,751 24,449
Other debtors 25,343 26,732
43,094 51,181

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases 2,723 2,723
Taxation and social security 59,533 40,438
Other creditors 34,469 39,195
96,725 82,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases 5,948 8,671

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 2,971
Investment revaluation in year 8,741

At 31 October 2024 11,712

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Gardner (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

11. RELATED PARTY DISCLOSURES

Dividends of £20,000 were owed to the director at the Balance Sheet date. (2023: £20,000)