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Company No: 08885203 (England and Wales)

COOMBES & WRIGHT MORTGAGE SOLUTIONS

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

COOMBES & WRIGHT MORTGAGE SOLUTIONS

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

COOMBES & WRIGHT MORTGAGE SOLUTIONS

COMPANY INFORMATION

For the financial year ended 31 March 2025
COOMBES & WRIGHT MORTGAGE SOLUTIONS

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
DIRECTORS Michael Robert Coombes
James Colin Wright
REGISTERED OFFICE 51 Bradmore Green Brookmans Park
Hatfield
AL9 7QS
United Kingdom
COMPANY NUMBER 08885203 (England and Wales)
ACCOUNTANT Mercer & Hole
72 London Road
St Albans
AL1 1NS
United Kingdom
COOMBES & WRIGHT MORTGAGE SOLUTIONS

BALANCE SHEET

As at 31 March 2025
COOMBES & WRIGHT MORTGAGE SOLUTIONS

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 4 7,860 9,754
7,860 9,754
Current assets
Debtors 5 13,456 25,323
Cash at bank and in hand 265,989 188,877
279,445 214,200
Creditors: amounts falling due within one year 6 ( 168,693) ( 167,773)
Net current assets 110,752 46,427
Total assets less current liabilities 118,612 56,181
Net assets 118,612 56,181
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 118,512 56,081
Total shareholders' funds 118,612 56,181

For the financial year ending 31 March 2025 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 Coombes & Wright Mortgage Solutions (registered number: 08885203) were approved and authorised for issue by the Board of Directors on 11 June 2025. They were signed on its behalf by:

Michael Robert Coombes
Director
James Colin Wright
Director
COOMBES & WRIGHT MORTGAGE SOLUTIONS

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
COOMBES & WRIGHT MORTGAGE SOLUTIONS

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
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 year, unless otherwise stated.

General information and basis of accounting

Coombes & Wright Mortgage Solutions (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 51 Bradmore Green Brookmans Park, Hatfield, AL9 7QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

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:

Land and buildings depreciated over the life of the lease
Plant and machinery 3 years straight line
Fixtures and fittings 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2024 1,393 3,581 34,822 13,232 53,028
Additions 0 0 0 896 896
At 31 March 2025 1,393 3,581 34,822 14,128 53,924
Accumulated depreciation
At 01 April 2024 743 3,581 26,819 12,131 43,274
Charge for the financial year 92 0 2,001 697 2,790
0 0 0 0 0
At 31 March 2025 835 3,581 28,820 12,828 46,064
Net book value
At 31 March 2025 558 0 6,002 1,300 7,860
At 31 March 2024 650 0 8,003 1,101 9,754

5. Debtors

2025 2024
£ £
Trade debtors 936 6,599
Other debtors 12,520 18,724
13,456 25,323

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 1,242 234
Taxation and social security 137,283 129,438
Other creditors 30,168 38,101
168,693 167,773

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating lease 174,791 193,194

9. Related party transactions

Transactions with the entity's directors

2025 2024
£ £
Dividends 320,000 330,000