Express Mortgage Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05167662 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EXPRESS MORTGAGE SERVICES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S A Hand

P Rawson

SECRETARY:

P Rawson

REGISTERED OFFICE:

Wigan Investment Centre

Ground Floor

Waterside Drive

Wigan

Lancashire

WN3 5BA

REGISTERED NUMBER:

05167662 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

9,986

8,530

CURRENT ASSETS

Debtors

5

335,250

364,009

Cash at bank and in hand

53,826

4,449

389,076

368,458

CREDITORS

Amounts falling due within one year

6

179,042

158,944

NET CURRENT ASSETS

210,034

209,514

TOTAL ASSETS LESS CURRENT
LIABILITIES

220,020

218,044

CREDITORS

Amounts falling due after more than one
year

7

(126,389

)

(193,056

)

PROVISIONS FOR LIABILITIES

8

(2,440

)

(2,133

)

NET ASSETS

91,191

22,855

CAPITAL AND RESERVES

Called up share capital

999

Retained earnings

90,192

21,856

SHAREHOLDERS' FUNDS

91,191

22,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

P Rawson - Director

1.	STATUTORY INFORMATION

Express Mortgage Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration receivable for fees and commissions earned during the year, excluding value added tax. Income is recognised upon completion of the mortgage arranged for the client.

Tangible fixed assets

Tangible fixed assets are included at cost less depreciation and impairment.

Depreciation is provided at the following rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures & fittings

-

25% on reducing balance

Computer equipment

-

50% on cost

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Financial instruments

Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due.

Short term financial liabilities, including trade and other creditors, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation

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

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.

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 22 (2023 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 January 2024

39,893

63,784

103,677

Additions

3,274

5,347

8,621

At 31 December 2024

43,167

69,131

112,298

DEPRECIATION

At 1 January 2024

36,103

59,044

95,147

Charge for year

1,364

5,801

7,165

At 31 December 2024

37,467

64,845

102,312

NET BOOK VALUE

At 31 December 2024

5,700

4,286

9,986

At 31 December 2023

3,790

4,740

8,530

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

282,484

248,009

Directors' current accounts

4,128

12,665

Tax

2,954

Prepayments and accrued income

45,684

100,381

335,250

364,009

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

66,667

81,857

Trade creditors

6,616

8,143

Tax

34,499

15,060

Social security and other taxes

50,532

32,889

Other creditors

5,433

5,370

Directors' current accounts

6,468

4,692

Accrued expenses

8,827

10,933

179,042

158,944

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

66,667

Bank loans - 2-5 years

59,722

125,000

Bank loans more 5 yr by instal

-

1,389

126,389

193,056

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

1,389

8.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

2,440

2,133

Deferred

tax

£

Balance at 1 January 2024

2,133

Provided during year

307

Balance at 31 December 2024

2,440

9.	GUARANTEES AND OTHER FINANCIAL COMMITMENTS

The company has total lease commitments at the year end of £23,185 (2023: £34,778).

The directors, S Hand and P Rawson have given a personal guarantee in respect of the bank overdraft.

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

S A Hand

Balance outstanding at start of year

12,666

9,140

Amounts advanced

15,756

7,818

Amounts repaid

(24,295

)

(4,292

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

4,127

12,666

Loan accounts have been repaid within 9 months and attract interest at 2.25%.