Company registration number 06261112 (England and Wales)
CASTLE CORPORATE FINANCE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CASTLE CORPORATE FINANCE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
CASTLE CORPORATE FINANCE LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,464
6,094
Current assets
Debtors
5
98,059
235,212
Cash at bank and in hand
42,482
253,713
140,541
488,925
Creditors: amounts falling due within one year
6
(86,068)
(223,678)
Net current assets
54,473
265,247
Total assets less current liabilities
57,937
271,341
Provisions for liabilities
(866)
(1,158)
Net assets
57,071
270,183
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss reserves
37,071
250,183
Total equity
57,071
270,183

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

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 10 July 2025 and are signed on its behalf by:
S J Stepney
Director
Company registration number 06261112 (England and Wales)
CASTLE CORPORATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
page 2
1
Accounting policies
Company information

Castle Corporate Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Scalpel, 18th Floor, 52 Lime Street, London, EC3M 7AF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 3 years. Goodwill has been fully amortised.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Development Costs
3 year straight line
CASTLE CORPORATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
page 3
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
3 year straight line
Fixtures, fittings & equipment
3 year straight line
Computer equipment
3 year straight line

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.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
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 current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

CASTLE CORPORATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
page 4
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.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Current UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 

Deferred taxation is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

 

Deferred tax assets are recognised to the extent that it is regarded as more than likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

1.11
Employee 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.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

CASTLE CORPORATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
9
3
Intangible fixed assets
Goodwill
Development Costs
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
34,134
10,980
45,114
Amortisation and impairment
At 1 January 2024 and 31 December 2024
34,134
10,980
45,114
Carrying amount
At 31 December 2024
-
0
-
0
-
0
At 31 December 2023
-
0
-
0
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
2,823
50,208
53,031
Additions
-
0
1,141
1,141
At 31 December 2024
2,823
51,349
54,172
Depreciation and impairment
At 1 January 2024
2,823
44,114
46,937
Depreciation charged in the year
-
0
3,771
3,771
At 31 December 2024
2,823
47,885
50,708
Carrying amount
At 31 December 2024
-
0
3,464
3,464
At 31 December 2023
-
0
6,094
6,094
CASTLE CORPORATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
page 6
5
Debtors
2024
2023
Amounts falling due within one year
£
£
Trade debtors
18,000
37,530
Amounts owed by group undertakings
1,731
-
0
Other debtors
78,328
197,682
98,059
235,212
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
26,363
21,277
Amounts owed to group undertakings
-
0
9,519
Taxation and social security
55,143
190,027
Other creditors
4,562
2,855
86,068
223,678
7
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
5,481
5,607
8
Secured borrowings

The company has a bank overdraft facility amount to £100,000 which is secured by way of a fixed and floating charge over the company's assets.

CASTLE CORPORATE FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
page 7
9
Directors' transactions

During the year a loan at the official rate of interest was made to one of the company directors, which is repayable on demand.

 

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director 1 -
2.25
35,570
29,221
1,314
(29,429)
36,676
35,570
29,221
1,314
(29,429)
36,676
10
Parent company

The parent company of Castle Corporate Finance Limited is Excel Corporate Finance Limited and its registered office is Ground Floor, 1/7 Station Road, Crawley, West Sussex, RH10 1HT.

2024-12-312024-01-01falsefalsefalse10 July 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityS J StepneyV J Ansell062611122024-01-012024-12-31062611122024-12-31062611122023-12-3106261112core:LandBuildings2024-12-3106261112core:OtherPropertyPlantEquipment2024-12-3106261112core:LandBuildings2023-12-3106261112core:OtherPropertyPlantEquipment2023-12-3106261112core:CurrentFinancialInstrumentscore:WithinOneYear2024-12-3106261112core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3106261112core:ShareCapital2024-12-3106261112core:ShareCapital2023-12-3106261112core:RetainedEarningsAccumulatedLosses2024-12-3106261112core:RetainedEarningsAccumulatedLosses2023-12-3106261112bus:Director12024-01-012024-12-3106261112core:Goodwill2024-01-012024-12-3106261112core:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3106261112core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-01-012024-12-3106261112core:LeaseholdImprovements2024-01-012024-12-3106261112core:FurnitureFittings2024-01-012024-12-3106261112core:ComputerEquipment2024-01-012024-12-31062611122023-01-012023-12-3106261112core:NetGoodwill2023-12-3106261112core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-12-31062611122023-12-3106261112core:NetGoodwill2024-12-3106261112core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2024-12-3106261112core:NetGoodwill2023-12-3106261112core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill2023-12-3106261112core:LandBuildings2023-12-3106261112core:OtherPropertyPlantEquipment2023-12-3106261112core:LandBuildings2024-01-012024-12-3106261112core:OtherPropertyPlantEquipment2024-01-012024-12-3106261112core:CurrentFinancialInstruments2024-12-3106261112core:CurrentFinancialInstruments2023-12-3106261112core:WithinOneYear2024-12-3106261112core:WithinOneYear2023-12-3106261112bus:PrivateLimitedCompanyLtd2024-01-012024-12-3106261112bus:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106261112bus:FRS1022024-01-012024-12-3106261112bus:AuditExemptWithAccountantsReport2024-01-012024-12-3106261112bus:Director22024-01-012024-12-3106261112bus:FullAccounts2024-01-012024-12-31xbrli:purexbrli:sharesiso4217:GBP