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REGISTERED NUMBER: 04643439 (England and Wales)


















Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 January 2025

for

Landmark IFA Limited

Landmark IFA Limited (Registered number: 04643439)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Landmark IFA Limited

Company Information
for the Year Ended 31 January 2025







DIRECTORS: K A Mullins
R G Peace
P J Tordoff
M Clark





REGISTERED OFFICE: Wardens House
4 Broad Street
Stamford
Lincolnshire
PE9 1PB





REGISTERED NUMBER: 04643439 (England and Wales)





AUDITORS: Xeinadin Audit Limited
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

Landmark IFA Limited (Registered number: 04643439)

Strategic Report
for the Year Ended 31 January 2025

The directors present their strategic report for the year ended 31 January 2025.

REVIEW OF BUSINESS
The Company continues to offer independent financial advice to private clients and businesses. Fees are generated for providing such advice, which is delivered by qualified advisers. The firm took the decision to cease discretionary fund management activities in March 2025.

KEY PERFORMANCE INDICATORS
Gross revenue, client numbers and adviser numbers are key performance indicators for the business. All KPIs demonstrated robust and realistic business plan.

FUTURE DEVELOPMENTS
Due to an increasing regulatory burden, many small firms will need to consider joining larger firms in the near future. Landmark is particularly well placed to take advantage of this circumstance and the business will continue to seek high quality firms for acquisition. In April 2025, Landmark completed the acquisition of BBI Financial Planning Ltd. Recruitment of advisers working presently in restricted advice firms will become an area of focus. Several acquisition targets and recruitment opportunities are currently in the pipeline.

PRINCIPAL RISKS AND UNCERTAINTIES
Business performance is contingent on the confidence shown by our investors in the advice and service we provide, as much as it is in their confidence that investment markets will continue to offer value. If this confidence was eroded, then business performance could suffer.

Reputational damage caused by large (national) firms' failure to deliver ongoing service, and potential redress fees of £400m plus, cause great scrutiny to be placed on all regulated firms, which could result in a lack of confidence in financial advice more widely. Firms will need to provide evidence that an ongoing service is justified and is being delivered, otherwise they may face regulatory scrutiny and loss of client confidence.

Potential new, low cost entrants, such as tech giants with a loyal client base, and automated advice, supported by artificial intelligence, could see traditional firms' margins reduced in order to compete with these potential new entrants.


Landmark IFA Limited (Registered number: 04643439)

Strategic Report
for the Year Ended 31 January 2025

SECTION 172(1) STATEMENT
The Landmark Board have considered the requirements of Section 172(1) reporting in the preparation of these financial statements. In making any key decision, the Board will always take into consideration the following factors:

a) the likely consequences of any decision in the short, mid and long term,
b) the interests of the company's employees are measured and considered,
c) the need to foster the company's business relationships with suppliers, clients, and any interaction with third
party business partners,
d) the impact of the company's operations on the local community and general environment,
e) the desirability of the company and its officers maintaining a strong reputation for high standards of business
conduct and ethics,
f) the need to act fairly and without favour, and to be seen to do so, with all employees.

The Board consider key decisions in the context of the above areas and record how these decisions have been made. Key decisions are defined as those listed as principal agenda items at Landmark Board meetings.

The Landmark Board meet regularly throughout the year, both in person when appropriate, but also by zoom meeting. Therefore, all decisions are discussed in depth and considerations and conclusions recorded in the minutes. Landmark will continue to operate within all regulatory guidelines.

The following are some examples of the Landmark Board engagements that have taken place during the current financial year:

Our People
Our team are critical to the delivery of a positive client experience across all aspects of our business. This has been recognised for a long period of time but has been brought more into focus because of the pandemic. The business has significantly increased engagement with team members, through multiple communications channels, frequent business updates and through regular team meetings. Wherein not only are business decisions influenced, but where the contribution of each team member is recognised and encouraged. The cascading of business plans and initiatives are tabled, and increased value of 'listening sessions' are at the forefront to focus on increased health and wellbeing support for team members.

Our Directors
Our Directors have been associated with the Landmark Group and business for over 20 years and their experience and industry knowledge are critical to shaping the future of their company. Their views are of paramount importance and value in all decision making. The initiatives and considerations are tabled to the Landmark Board and create the backbone for all future strategic and directional decision making. Our previous Compliance and Ops director retired and was replaced in that role by an existing director. A further appointment to the board was made on 11 November 2024.

Our Clients
Our clients show great confidence in allowing the firm to manage their wealth, which can be substantial. We fully understand the importance of open, honest and transparent dealings with our investor clients.

Premises
Landmark continues to operate form Warden's House.

ON BEHALF OF THE BOARD:





K A Mullins - Director


28 May 2025

Landmark IFA Limited (Registered number: 04643439)

Report of the Directors
for the Year Ended 31 January 2025

The directors present their report with the financial statements of the company for the year ended 31 January 2025.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of independent financial advisers.

DIVIDENDS
An interim dividend of £55.45 per share was paid on 30 October 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 January 2025 will be £ 150,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 February 2024 to the date of this report.

K A Mullins
R G Peace
P J Tordoff

Other changes in directors holding office are as follows:

R C Martin - resigned 24 July 2024
M Clark - appointed 11 November 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-state whether applicable accounting standards have been followed, subject to any material departures disclosed and
explained in the financial statements;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Landmark IFA Limited (Registered number: 04643439)

Report of the Directors
for the Year Ended 31 January 2025


AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





K A Mullins - Director


28 May 2025

Report of the Independent Auditors to the Members of
Landmark IFA Limited

Opinion
We have audited the financial statements of Landmark IFA Limited (the 'company') for the year ended 31 January 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 January 2025 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Landmark IFA Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- enquiry of management, those charged with governance and the entity’s solicitors around actual and potential
litigation and claims;
- enquiry of entity staff in tax and compliance functions to identify any instances of non-compliance with laws and
regulations;
- reviewing minutes of meetings of those charged with governance;
- reviewing financial statement disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations;
- performing audit work over the risk of management override of controls, including testing of journal entries and
other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the
normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Landmark IFA Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Jeffrey Stanley FCA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

28 May 2025

Landmark IFA Limited (Registered number: 04643439)

Statement of Comprehensive
Income
for the Year Ended 31 January 2025

31.1.25 31.1.24
Notes £    £   

TURNOVER 6,191,030 5,747,524

Cost of sales 4,960,036 4,692,813
GROSS PROFIT 1,230,994 1,054,711

Administrative expenses 1,071,019 945,597
OPERATING PROFIT 4 159,975 109,114

Interest receivable and similar income 10,583 3,814
170,558 112,928

Interest payable and similar expenses 5 31,625 28,728
PROFIT BEFORE TAXATION 138,933 84,200

Tax on profit 6 33,023 21,212
PROFIT FOR THE FINANCIAL YEAR 105,910 62,988

Landmark IFA Limited (Registered number: 04643439)

Balance Sheet
31 January 2025

31.1.25 31.1.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 8 41,597 45,319

CURRENT ASSETS
Debtors 9 1,083,051 845,906
Cash at bank 373,472 661,967
1,456,523 1,507,873
CREDITORS
Amounts falling due within one year 10 983,355 966,958
NET CURRENT ASSETS 473,168 540,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

514,765

586,234

CREDITORS
Amounts falling due after more than one
year

11

(69,517

)

(96,154

)

PROVISIONS FOR LIABILITIES 15 (9,541 ) (10,283 )
NET ASSETS 435,707 479,797

CAPITAL AND RESERVES
Called up share capital 16 2,705 2,705
Share premium 17 39,710 39,710
Capital redemption reserve 17 195 195
Retained earnings 17 393,097 437,187
SHAREHOLDERS' FUNDS 435,707 479,797

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





K A Mullins - Director


Landmark IFA Limited (Registered number: 04643439)

Statement of Changes in Equity
for the Year Ended 31 January 2025

Called up Capital
share Retained Share redemption Total
capital earnings premium reserve equity
£    £    £    £    £   
Balance at 1 February 2023 2,705 705,814 39,710 195 748,424

Changes in equity
Dividends - (331,615 ) - - (331,615 )
Total comprehensive income - 62,988 - - 62,988
Balance at 31 January 2024 2,705 437,187 39,710 195 479,797

Changes in equity
Dividends - (150,000 ) - - (150,000 )
Total comprehensive income - 105,910 - - 105,910
Balance at 31 January 2025 2,705 393,097 39,710 195 435,707

Landmark IFA Limited (Registered number: 04643439)

Cash Flow Statement
for the Year Ended 31 January 2025

31.1.25 31.1.24
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 65,353 341,490
Interest paid (31,625 ) (28,728 )
Tax paid (20,479 ) (50,221 )
Net cash from operating activities 13,249 262,541

Cash flows from investing activities
Purchase of tangible fixed assets (8,605 ) (2,147 )
Interest received 10,583 3,814
Net cash from investing activities 1,978 1,667

Cash flows from financing activities
New loans in year - 100,000
Loan repayments in year (24,562 ) (14,904 )
Amount introduced by directors - 249,592
Amount withdrawn by directors (129,160 ) -
Equity dividends paid (150,000 ) (331,615 )
Net cash from financing activities (303,722 ) 3,073

(Decrease)/increase in cash and cash equivalents (288,495 ) 267,281
Cash and cash equivalents at beginning of
year

2

661,967

394,686

Cash and cash equivalents at end of year 2 373,472 661,967

Landmark IFA Limited (Registered number: 04643439)

Notes to the Cash Flow Statement
for the Year Ended 31 January 2025

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.1.25 31.1.24
£    £   
Profit before taxation 138,933 84,200
Depreciation charges 12,327 12,304
Loss on disposal of fixed assets - 87
Finance costs 31,625 28,728
Finance income (10,583 ) (3,814 )
172,302 121,505
(Increase)/decrease in trade and other debtors (107,985 ) 161,785
Increase in trade and other creditors 1,036 58,200
Cash generated from operations 65,353 341,490

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 January 2025
31.1.25 1.2.24
£    £   
Cash and cash equivalents 373,472 661,967
Year ended 31 January 2024
31.1.24 1.2.23
£    £   
Cash and cash equivalents 661,967 394,686


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.2.24 Cash flow At 31.1.25
£    £    £   
Net cash
Cash at bank 661,967 (288,495 ) 373,472
661,967 (288,495 ) 373,472
Debt
Debts falling due within 1 year (24,592 ) (2,075 ) (26,667 )
Debts falling due after 1 year (96,154 ) 26,637 (69,517 )
(120,746 ) 24,562 (96,184 )
Total 541,221 (263,933 ) 277,288

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Landmark IFA 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.

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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the fair value of net commissions and fees, received on the sale of wealth management policies, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 25% on cost
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

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.

3. EMPLOYEES AND DIRECTORS
31.1.25 31.1.24
£    £   
Wages and salaries 626,319 523,610
Social security costs 45,158 36,752
Other pension costs 29,942 58,232
701,419 618,594

The average number of employees during the year was as follows:
31.1.25 31.1.24

Management 4 4
Admin 22 21
26 25

31.1.25 31.1.24
£    £   
Directors' remuneration 44,639 46,388
Directors' pension contributions to money purchase schemes 12,875 44,875

4. OPERATING PROFIT

The operating profit is stated after charging:

31.1.25 31.1.24
£    £   
Other operating leases 14,550 18,000
Depreciation - owned assets 12,327 12,304
Loss on disposal of fixed assets - 87
Auditors' remuneration 10,000 14,520

5. INTEREST PAYABLE AND SIMILAR EXPENSES
31.1.25 31.1.24
£    £   
Loan interest 31,625 28,728

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.1.25 31.1.24
£    £   
Current tax:
UK corporation tax 33,765 20,515

Deferred tax (742 ) 697
Tax on profit 33,023 21,212

UK corporation tax has been charged at 25% (2024 - 24.03%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

31.1.25 31.1.24
£    £   
Profit before tax 138,933 84,200
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2024 - 24.030%)

34,733

20,233

Effects of:
Expenses not deductible for tax purposes 390 -
Depreciation in excess of capital allowances - 2,938
Adjustments to tax charge in respect of previous periods (35 ) -
Marginal relief - (1,959 )
Group relief (2,065 ) -
Total tax charge 33,023 21,212

7. DIVIDENDS
31.1.25 31.1.24
£    £   
Ordinary shares of £1 each
Interim 150,000 331,615

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

8. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
equipment fittings equipment Totals
£    £    £    £   
COST
At 1 February 2024 - 79,437 5,659 85,096
Additions 4,464 - 4,141 8,605
At 31 January 2025 4,464 79,437 9,800 93,701
DEPRECIATION
At 1 February 2024 - 36,749 3,028 39,777
Charge for year 1,116 7,944 3,267 12,327
At 31 January 2025 1,116 44,693 6,295 52,104
NET BOOK VALUE
At 31 January 2025 3,348 34,744 3,505 41,597
At 31 January 2024 - 42,688 2,631 45,319

9. DEBTORS
31.1.25 31.1.24
£    £   
Amounts falling due within one year:
Trade debtors 20,371 19,449
Amounts owed by group undertakings 5,295 -
Other debtors 214,563 98,007
Directors' current accounts 228,029 98,869
Prepayments and accrued income 614,793 495,557
1,083,051 711,882

Amounts falling due after more than one year:
Other debtors - 134,024

Aggregate amounts 1,083,051 845,906

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.25 31.1.24
£    £   
Bank loans and overdrafts (see note 12) 10,375 10,119
Other loans (see note 12) 16,292 14,473
Trade creditors 11,631 15,874
Amounts owed to group undertakings - 57,591
Tax 33,800 20,515
Social security and other taxes 11,973 9,342
Other creditors 367,235 345,049
Pension creditor 3,524 2,785
Accruals and deferred income 528,525 491,210
983,355 966,958

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.25 31.1.24
£    £   
Bank loans (see note 12) 5,225 15,570
Other loans (see note 12) 64,292 80,584
69,517 96,154

12. LOANS

An analysis of the maturity of loans is given below:

31.1.25 31.1.24
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,375 10,119
Funding Circle loan 16,292 14,473
26,667 24,592

Amounts falling due between one and two years:
Bank loans - 1-2 years 5,225 10,375
Funding Circle loan - 1-2 yrs 18,341 16,292
23,566 26,667

Amounts falling due between two and five years:
Bank loans - 2-5 years - 5,195
Funding Circle loan - 2-5yrs 45,951 64,292
45,951 69,487

Included within Creditors are the following loan balances:

Bank loan under Coronavirus Business Interruption Loan Scheme (CBILS) with a total balance due at the balance sheet date of £15,600 (2024: £25,689). The loan term amounts to six years with a maturity date of 20 July 2026. The annual interest rate applied to the loan is 2.5%.

Other loan is Funding Circle Business Loan Scheme (with a total balance due at the balance sheet date of £80,584 (2024: £95,057). The loan term amounts to six years with a maturity date of 01 February 2029. The annual interest rate applied to the loan is 12%.

13. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.25 31.1.24
£    £   
Within one year 18,000 18,000
Between one and five years 90,000 90,000
In more than five years 8,250 26,250
116,250 134,250

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

14. FINANCIAL INSTRUMENTS

31.1.25 31.1.24
£ £
Carrying amount of financial assets
Debt instruments measured at amortised cost 1,083,051 845,906
Carrying amount of financial liabilities
Debt instruments measured at amortised cost 382,390 421,299

15. PROVISIONS FOR LIABILITIES
31.1.25 31.1.24
£    £   
Deferred tax 9,541 10,283

Deferred
tax
£   
Balance at 1 February 2024 10,283
Credit to Statement of Comprehensive Income during year (742 )
Balance at 31 January 2025 9,541

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.25 31.1.24
value: £    £   
2,705 Ordinary £1 2,705 2,705

17. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 February 2024 437,187 39,710 195 477,092
Profit for the year 105,910 105,910
Dividends (150,000 ) (150,000 )
At 31 January 2025 393,097 39,710 195 433,002

Landmark IFA Limited (Registered number: 04643439)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

18. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

31.1.25 31.1.24
£    £   
K A Mullins
Balance outstanding at start of year 97,442 338,333
Amounts advanced 228,029 97,442
Amounts repaid (97,442 ) (338,333 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 228,029 97,442

R C Martin
Balance outstanding at start of year 1,427 10,128
Amounts advanced - 1,427
Amounts repaid (1,427 ) (10,128 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,427

No interest was charged on the balance of £228,029 advanced to K A Mullins as at 31 January 2025.

19. RELATED PARTY DISCLOSURES

During the year, a total of key management personnel compensation of £ 58,996 (2024 - £ 92,254 ) was paid.

20. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent undertaking is Landmark Financial Group Limited, a company incorporated in England and Wales, which holds 100% of the Company’s issued share capital. The consolidated financial statements of Landmark Financial Group Limited are available from the company’s registered office.

The Company’s ultimate controlling party is Landmark Group Employee Ownership Trust, which holds 100% of issued share capital of Landmark Financial Group Limited.