Ll Financial Solutions Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08493481 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 DECEMBER 2024

FOR

LL FINANCIAL SOLUTIONS LTD

Page

Statement of Financial Position

1

to

2

Notes to the Financial Statements

3

to

7

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

1,275

1,500

Investments

6

10

1,285

1,510

CURRENT ASSETS

Debtors

7

330,379

184,240

Cash at bank

34,942

101,838

365,321

286,078

CREDITORS

Amounts falling due within one year

8

(333,957

)

(267,990

)

NET CURRENT ASSETS

31,364

18,088

TOTAL ASSETS LESS CURRENT
LIABILITIES

32,649

19,598

CREDITORS

Amounts falling due after more than one
year

9

(24,537

)

(30,093

)

PROVISIONS FOR LIABILITIES

(314

)

(314

)

NET ASSETS/(LIABILITIES)

7,798

(10,809

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

7,797

(10,810

)

7,798

(10,809

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

F H Rhys-Jones - Director

1.	STATUTORY INFORMATION

Ll Financial Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08493481

Registered office:

Ll Estates Ltd

High Street

Rhuddlan

DENBIGHSHIRE

LL18 2UA

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

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.

(a) Critical accounting estimates and assumptions

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and physical condition of the assets. See tangible assets note for the carrying amount of the assets and the accounting policy for the useful economic lives for each class of assets.

REVENUE RECOGNITION

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

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 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 provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & Machinery - 15% reducing balance method

Impairment of Fixed Assets:

A review for indicators of impairment is carried out at each reporting date, with 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 purpose 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 group of assets.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

FINANCIAL INSTRUMENTS

A financial asset or a financial liability is recognised only when the entity 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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 December 2023

and 30 December 2024

10,000

AMORTISATION

At 31 December 2023

and 30 December 2024

10,000

NET BOOK VALUE

At 30 December 2024

-

At 30 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

COST

At 31 December 2023

and 30 December 2024

6,600

1,887

8,487

DEPRECIATION

At 31 December 2023

5,100

1,887

6,987

Charge for year

225

-

225

At 30 December 2024

5,325

1,887

7,212

NET BOOK VALUE

At 30 December 2024

1,275

-

1,275

At 30 December 2023

1,500

-

1,500

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 31 December 2023

and 30 December 2024

10

NET BOOK VALUE

At 30 December 2024

10

At 30 December 2023

10

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

Amounts owed by group undertakings

29,132

42,255

Other debtors

301,247

141,985

330,379

184,240

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.24

30.12.23

£

Bank loans and overdrafts

5,555

Taxation and social security

51,376

43,240

Other creditors

277,026

219,195

333,957

267,990

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.12.24

30.12.23

£

Bank loans

24,537

30,093

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 December 2024 and 30 December 2023:

30.12.24

30.12.23

£

F H Rhys-Jones

Balance outstanding at start of year

43,640

-

Amounts advanced

137,441

104,781

Amounts repaid

(52,242

)

(61,141

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

128,839

43,640

N L Young

Balance outstanding at start of year

8,480

-

Amounts advanced

115,056

71,402

Amounts repaid

(47,688

)

(62,922

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

75,848

8,480

11.	RELATED PARTY DISCLOSURES

Transactions with directors are under normal market conditions and/or not material.

12.	POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statements by the board.