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Company No: 04947873 (England and Wales)

MONEY DOCTOR FINANCIAL PLANNING LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

MONEY DOCTOR FINANCIAL PLANNING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

MONEY DOCTOR FINANCIAL PLANNING LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024
MONEY DOCTOR FINANCIAL PLANNING LIMITED

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 31.12.2024 31.12.2023
£ £
Fixed assets
Tangible assets 4 47,221 58,356
Investments 5 16,430 3,483
63,651 61,839
Current assets
Debtors 6 111,455 158,307
Cash at bank and in hand 238,793 175,214
350,248 333,521
Creditors: amounts falling due within one year 7 ( 202,102) ( 209,556)
Net current assets 148,146 123,965
Total assets less current liabilities 211,797 185,804
Creditors: amounts falling due after more than one year 8 ( 4,808) ( 14,949)
Provision for liabilities ( 2,950) ( 4,438)
Net assets 204,039 166,417
Capital and reserves
Called-up share capital 9 800 800
Capital redemption reserve 400 400
Profit and loss account 202,839 165,217
Total shareholders' funds 204,039 166,417

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Money Doctor Financial Planning Limited (registered number: 04947873) were approved and authorised for issue by the Board of Directors on 28 March 2025. They were signed on its behalf by:

Mr N Wright
Director
MONEY DOCTOR FINANCIAL PLANNING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
MONEY DOCTOR FINANCIAL PLANNING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Money Doctor Financial Planning Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Stables 2 Rotten Row Barns, 1957 Warwick Road, Knowle, Solihull, B93 0DX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The company's prior year reporting period was extended by 2 months to 31 December 2023. The comparative amounts presented in the financial statements (including related notes) are not comparable.

Turnover

Turnover is stated gross and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 10 years straight line
Plant and machinery 3 years straight line
Fixtures and fittings 25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Critical accounting judgements and key sources of estimation uncertainty

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

3. Employees

Year ended
31.12.2024
Period from
01.11.2022 to
31.12.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 21 20

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 January 2024 51,825 74,005 16,394 142,224
Additions 0 3,224 0 3,224
At 31 December 2024 51,825 77,229 16,394 145,448
Accumulated depreciation
At 01 January 2024 11,221 60,725 11,922 83,868
Charge for the financial year 5,182 8,059 1,118 14,359
At 31 December 2024 16,403 68,784 13,040 98,227
Net book value
At 31 December 2024 35,422 8,445 3,354 47,221
At 31 December 2023 40,604 13,280 4,472 58,356

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 3,483 3,483
Additions 11,957 11,957
Movement in fair value 990 990
At 31 December 2024 16,430 16,430
Carrying value at 31 December 2024 16,430 16,430
Carrying value at 31 December 2023 3,483 3,483

6. Debtors

31.12.2024 31.12.2023
£ £
Corporation tax 31,558 53,251
Other debtors 79,897 105,056
111,455 158,307

7. Creditors: amounts falling due within one year

31.12.2024 31.12.2023
£ £
Bank overdrafts 17,447 20,073
Trade creditors 13,214 6,723
Corporation tax 19,651 0
Other taxation and social security 16,191 16,264
Other creditors 135,599 166,496
202,102 209,556

The bank loan is secured by a fixed and floating charge over the company’s assets.

8. Creditors: amounts falling due after more than one year

31.12.2024 31.12.2023
£ £
Bank loans 4,808 14,949

The bank loan is secured by a fixed and floating charge over the company’s assets.

9. Called-up share capital

31.12.2024 31.12.2023
£ £
Allotted, called-up and fully-paid
200 Ordinary A shares of £ 1.00 each 200 200
200 Ordinary B shares of £ 1.00 each 200 200
200 Ordinary D shares of £ 1.00 each 200 200
200 Ordinary F shares of £ 1.00 each 200 200
800 800

10. Related party transactions

During the year the company paid rent of £35,750 (period ended December 2023: £41,708) to a pension scheme in which the directors are beneficiaries.

11. Directors' transactions

During the year, consultancy fees amounting to £286,316 (period ended 31 December 2023 : £309,313) were paid to Money Doctor Wealth Management (North) Limited, a company connected with the director, Mr S. Brown.

During the year, consultancy fees amounting to £339,392 (period ended 31 December 2023: £396,470) were paid to Money Doctor Wealth Management (Midlands) Limited, a company connected with the director, Mr N. Wright.

During the year, consultancy fees amounting to £278,405 (period ended 31 December 2023: £469,914) were paid to Money Doctor Wealth Management (South) Limited, a company connected with the director, Mr D. Ford.