Company registration number 11692477 (England and Wales)
EARLSFERRY ADVISORY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EARLSFERRY ADVISORY LIMITED
COMPANY INFORMATION
Directors
S Drane
H Drane
Secretary
H Drane
Company number
11692477
Registered office
20 Park Road
Haywards Heath
West Sussex
United Kingdom
RH16 4HZ
Accountants
Azets
Titanium 1
King's Inch Place
Renfrew
United Kingdom
PA4 8WF
EARLSFERRY ADVISORY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
EARLSFERRY ADVISORY LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
86,921
116,488
Investments
4
451,388
159,500
538,309
275,988
Current assets
Debtors
5
3,809
2,670
Cash at bank and in hand
3,143
7,641
6,952
10,311
Creditors: amounts falling due within one year
6
(107,612)
(16,499)
Net current liabilities
(100,660)
(6,188)
Total assets less current liabilities
437,649
269,800
Creditors: amounts falling due after more than one year
7
(74,055)
(84,438)
Provisions for liabilities
(21,730)
(29,122)
Net assets
341,864
156,240
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
8
185,307
(6,581)
Distributable profit and loss reserves
156,457
162,721
Total equity
341,864
156,240
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
EARLSFERRY ADVISORY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 3 June 2025 and are signed on its behalf by:
S Drane
Director
Company Registration No. 11692477
EARLSFERRY ADVISORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
Earlsferry Advisory Limited is a private company limited by shares incorporated in England and Wales. The registered office is 20 Park Road, Haywards Heath, West Sussex, United Kingdom, RH16 4HZ.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 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.
1.3
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:
Fixtures and fittings
3 years straight-line
Computers
3 years straight-line
Motor vehicles
25% Reducing balance
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.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible 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.
EARLSFERRY ADVISORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
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.
1.7
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.
1.8
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
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
EARLSFERRY ADVISORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
959
4,154
121,553
126,666
Additions
869
869
At 30 November 2024
959
5,023
121,553
127,535
Depreciation and impairment
At 1 December 2023
959
4,154
5,065
10,178
Depreciation charged in the year
48
30,388
30,436
At 30 November 2024
959
4,202
35,453
40,614
Carrying amount
At 30 November 2024
821
86,100
86,921
At 30 November 2023
116,488
116,488
EARLSFERRY ADVISORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
451,388
159,500
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 December 2023
159,500
Additions
130,017
Valuation changes
191,888
Disposals
(30,017)
At 30 November 2024
451,388
Carrying amount
At 30 November 2024
451,388
At 30 November 2023
159,500
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,027
1,462
Other debtors
782
1,208
3,809
2,670
6
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
984
3,583
Other creditors
106,628
12,916
107,612
16,499
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
74,055
84,438
Hire purchase liabilities are secured over the asset to which they relate.
EARLSFERRY ADVISORY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
(6,581)
(21,000)
Non distributable profits in the year
191,888
14,419
At the end of the year
185,307
(6,581)
9
Related party transactions
During the year the company entered into the following transactions with related parties:
2024
2023
Amounts due to related parties
£
£
Key management personnel
94,194
632