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Registered number: 15120582
REES ASTLEY IFA HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2024
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REES ASTLEY IFA HOLDINGS LIMITED
REGISTERED NUMBER:15120582
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BALANCE SHEET
AS AT 31 DECEMBER 2024
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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REES ASTLEY IFA HOLDINGS LIMITED
REGISTERED NUMBER:15120582
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 July 2025.
The notes on pages 3 to 9 form part of these financial statements.
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Rees Astley IFA Holdings Limited, 15120582, is a private company, limited by shares, incorporated in England and Wales, with its registered office and principal place of business at 29 North Parade, Aberystwyth, Ceredigion, SY23 2JN.
The principal activity of the Company is that of a Holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short-term 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.
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.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Charge for the year on owned assets
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Investments in subsidiary companies
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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The following liabilities were secured:
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Details of security provided:
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The bank loans are secured by means of a fixed and floating charge over all property and undertaking of the company.
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Creditors: Amounts falling due after more than one year
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The following liabilities were secured:
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Details of security provided:
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The bank loans are secured by means of a fixed and floating charge over all property and undertaking of the company.
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Amounts falling due after more than 5 years
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Allotted, called up and fully paid
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0 (2023 - 1) Ordinary shares of £1.00 each
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23,462 (2023 - 0) Ordinary A shares of £1.00 each
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3,200 (2023 - 0) Ordinary B shares of £1.00 each
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REES ASTLEY IFA HOLDINGS LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10.Share capital (continued)
On incorporation 1 Ordinary £1 share was issued at par.
On 29 October 2024 the following share transactions took place:
Share exchange with Rees Astley Independent Financial Advisers Limited, with additional 35,191 Ordinary £1 shares issued.
5,331 Ordinary £1 shares were repurchased by the company.
23,462 Ordinary £1 shares were re-designated as Ordinary A shares.
6,399 Ordinary £1 shares were re-designated as Ordinary B shares.
On 30 October 2024, 3,199 Ordinary £1 B shares were repurchased by the company.
Capital redemption reserve
The capital redemption reserve represents the share capital repurchased by the Company.
Profit and loss account
The profit and loss account represents the accumulated profits of the Company since incorporation less distributions made to shareholders.
Provided there is sufficient distributable reserves, the Company has committed to purchasing and canceling the remaining Ordinary B share capital for consideration of £300,000.
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,500 (2023: £nil) . Contributions totalling £nil (2023: £nil) were payable to the fund at the balance sheet date and are included in creditors.
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