C Pugh Financial Services Limited 31/12/2024 iXBRL

Company registration number: 07889140

C PUGH FINANCIAL SERVICES LIMITED

31 December 2024

HEYWOODS

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

C PUGH FINANCIAL SERVICES LIMITED

Contents

Directors and other information

Accountants report

Statement of financial position

Statement of changes in equity

Notes to the financial statements

C PUGH FINANCIAL SERVICES LIMITED

DIRECTORS AND OTHER INFORMATION


	Director	Mr C N Pugh


	Company number	07889140


	Registered office	Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB


	Business address	169 Wenlock Road
		Shrewsbury
		Shropshire
		SY2 6LB


	Accountants	Heywoods
		Countrywide House
		Knights Way
		Shrewsbury
		Shropshire
		SY1 3AB

C PUGH FINANCIAL SERVICES LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE

UNAUDITED STATUTORY FINANCIAL STATEMENTS OF C PUGH FINANCIAL SERVICES LIMITED

YEAR ENDED 31ST DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of C Pugh Financial Services Limited for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the director of C Pugh Financial Services Limited, as a body, in accordance with the terms of our engagement letter dated 23 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of C Pugh Financial Services Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than C Pugh Financial Services Limited and its director as a body for our work or for this report.

It is your duty to ensure that C Pugh Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of C Pugh Financial Services Limited. You consider that C Pugh Financial Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of C Pugh Financial Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Heywoods

Chartered Accountants

Countrywide House

Knights Way

Shrewsbury

Shropshire

SY1 3AB

31 March 2025

C PUGH FINANCIAL SERVICES LIMITED

STATEMENT OF FINANCIAL POSITION

31ST DECEMBER 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	454		677
		_______		_______
			454		677

Current assets
Debtors	6	35,172		5,156
Cash at bank and in hand		23,646		77,953
		_______		_______
		58,818		83,109
Creditors: amounts falling due
within one year	7	( 16,632)		( 21,589)
		_______		_______
Net current assets			42,186		61,520
			_______		_______
Total assets less current liabilities			42,640		62,197


Provisions for liabilities			( 86)		( 169)

			_______		_______
Net assets			42,554		62,028
			_______		_______

Capital and reserves
Called up share capital			2		2
Profit and loss account			42,552		62,026
			_______		_______
Shareholder funds			42,554		62,028
			_______		_______

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

Director's responsibilities:

- The member has 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 their responsibilities for complying with the requirements of the Act 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 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 comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:

Mr C N Pugh

Director

Company registration number: 07889140

C PUGH FINANCIAL SERVICES LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31ST DECEMBER 2024

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 January 2023	2	50,327	50,329

Profit for the year		47,699	47,699
	_______	_______	_______
Total comprehensive income for the year	-	47,699	47,699

Dividends paid and payable		( 36,000)	( 36,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 36,000)	( 36,000)

	_______	_______	_______
At 31 December 2023 and 1 January 2024	2	62,026	62,028

Profit for the year		16,526	16,526
	_______	_______	_______
Total comprehensive income for the year	-	16,526	16,526

Dividends paid and payable		( 36,000)	( 36,000)
	_______	_______	_______
Total investments by and distributions to owners	-	( 36,000)	( 36,000)

	_______	_______	_______
At 31 December 2024	2	42,552	42,554
	_______	_______	_______

C PUGH FINANCIAL SERVICES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31ST DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

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:


Fittings fixtures and equipment	-	33 %	reducing balance

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Tangible assets

	Fixtures, fittings and equipment	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	2,482	2,482
	_______	_______
Depreciation
At 1 January 2024	1,805	1,805
Charge for the year	223	223
	_______	_______
At 31 December 2024	2,028	2,028
	_______	_______
Carrying amount
At 31 December 2024	454	454
	_______	_______
At 31 December 2023	677	677
	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	35,172	5,156
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	3,911	12,206
Other creditors	12,721	9,383
	_______	_______
	16,632	21,589
	_______	_______

8. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr C N Pugh	( 7,347)	( 3,225)	( 10,572)
		_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr C N Pugh	( 3,702)	( 3,645)	( 7,347)
		_______	_______	_______