Registration number: 07538346

Prosperity IFA Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 13

Prosperity IFA Limited

Company Information

Directors

S C Munday Mr Joakim Strandberg

Company secretary

V Munday Mr Joakim Strandberg

Registered office

Tubwell Farm Tubwell Lane Crowborough East Sussex TN6 3RQ

Accountants

Redshield Business Solutions Limited Chartered AccountantsSuite 3, 1 - 3 Warren Court Park Road Crowborough East Sussex TN6 2QX

Prosperity IFA Limited

(Registration number: 07538346)
Balance Sheet as at 31 December 2024

	Note	31 December 2024 £	31 March 2024 £
Fixed assets
Intangible assets	4	252,296	276,452
Tangible assets	5	20,932	19,606
Investments	6	2,060	2,060
		275,288	298,118
Current assets
Debtors	7	168,786	176,883
Cash at bank and in hand		2,770	1,642
		171,556	178,525
Creditors: Amounts falling due within one year	8	(209,838)	(350,388)
Net current liabilities		(38,282)	(171,863)
Total assets less current liabilities		237,006	126,255
Creditors: Amounts falling due after more than one year	8	(106,338)	(58,471)
Net assets		130,668	67,784
Capital and reserves
Called up share capital	9	1,150	1,150
Retained earnings		129,518	66,634
Shareholders' funds		130,668	67,784

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Prosperity IFA Limited

(Registration number: 07538346)
Balance Sheet as at 31 December 2024 (continued)

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:
 

S C Munday Director

Prosperity IFA Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Tubwell Farm
Tubwell Lane
Crowborough
East Sussex
TN6 3RQ
England

These financial statements were authorised for issue by the Board on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Prosperity IFA Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line
Furniture and fittings	25% reducing balance
Improvements to property	20 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 10 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Prosperity IFA Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Prosperity IFA Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 5 (2024 - 7).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	322,080	322,080
At 31 December 2024	322,080	322,080
Amortisation
At 1 April 2024	45,628	45,628
Amortisation charge	24,156	24,156
At 31 December 2024	69,784	69,784
Carrying amount
At 31 December 2024	252,296	252,296
At 31 March 2024	276,452	276,452

Prosperity IFA Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 31 December 2024 (continued)

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	15,499	46,046	61,545
Additions	-	3,944	3,944
At 31 December 2024	15,499	49,990	65,489
Depreciation
At 1 April 2024	2,011	39,928	41,939
Charge for the period	581	2,037	2,618
At 31 December 2024	2,592	41,965	44,557
Carrying amount
At 31 December 2024	12,907	8,025	20,932
At 31 March 2024	13,488	6,118	19,606

6	Investments

	31 December 2024 £	31 March 2024 £
Investments in subsidiaries	2,060	2,060