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COMPANY REGISTRATION NUMBER: 10676850
Money Advice Solutions Limited
Filleted Unaudited Financial Statements
31 March 2025
Money Advice Solutions Limited
Statement of Financial Position
31 March 2025
2025
2024
Note
£
£
Fixed assets
Intangible assets
5
880
880
Tangible assets
6
1,708
4,274
-------
-------
2,588
5,154
Current assets
Debtors
7
983
103,577
Cash at bank and in hand
18,526
15,582
--------
---------
19,509
119,159
Creditors: amounts falling due within one year
8
10,037
67,525
--------
---------
Net current assets
9,472
51,634
--------
--------
Total assets less current liabilities
12,060
56,788
Creditors: amounts falling due after more than one year
9
19,975
25,775
--------
--------
Net (liabilities)/assets
( 7,915)
31,013
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 8,015)
30,913
-------
--------
Shareholders (deficit)/funds
( 7,915)
31,013
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Money Advice Solutions Limited
Statement of Financial Position (continued)
31 March 2025
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Mr L Parkin
Director
Company registration number: 10676850
Money Advice Solutions Limited
Notes to the Financial Statements
Year ended 31 March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 810 Mandarin Court, Centre Park, Warrington, WA1 1GG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The company was insolvent at the balance sheet date. The director has given assurances that the company will continue to be supported and any debts paid when they become due. As such, the going concern basis of preparing accounts is deemed appropriate.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Intangible assets
Investments other than shares
£
Cost
At 1 April 2024 and 31 March 2025
880
----
Amortisation
At 1 April 2024 and 31 March 2025
----
Carrying amount
At 31 March 2025
880
----
At 31 March 2024
880
----
6. Tangible assets
Equipment
£
Cost
At 1 April 2024 and 31 March 2025
17,877
--------
Depreciation
At 1 April 2024
13,603
Charge for the year
2,566
--------
At 31 March 2025
16,169
--------
Carrying amount
At 31 March 2025
1,708
--------
At 31 March 2024
4,274
--------
7. Debtors
2025
2024
£
£
Trade debtors
14,344
Other debtors
983
89,233
----
---------
983
103,577
----
---------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
5,800
5,652
Trade creditors
29
1,473
Corporation tax
870
13,435
Social security and other taxes
1,180
Other creditors
3,338
45,785
--------
--------
10,037
67,525
--------
--------
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
19,975
25,775
--------
--------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr L Parkin
72,936
1,820
( 73,773)
983
--------
-------
--------
----
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr L Parkin
4,663
( 50,241)
118,514
72,936
-------
--------
---------
--------
11. Related party transactions
The company was under the control of the director throughout the current and previous year. No transactions with related parties were undertaken such as are required to be disclosed.