REGISTERED NUMBER: 08130498 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

THE RIGHT MORTGAGE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Allen

T Stretton

A N Stretton

N L Ventrella

M G Wilson

A M Wilson

J M A Mitchell

REGISTERED OFFICE:

70 St Johns Close

Knowle

Solihull

B93 0NH

REGISTERED NUMBER:

08130498 (England and Wales)

ACCOUNTANTS:

Ark&Co Ltd

Chartered Accountants & Chartered Tax Advisers

The Maltings

2 Anderson Rd

Bearwood

Birmingham

West Midlands

B66 4AR

FIXED ASSETS

Intangible assets

4

28,500

85,500

Tangible assets

5

4,433

13,337

Investments

6

10,151

10,151

43,084

108,988

CURRENT ASSETS

Debtors

7

479,156

370,947

Cash at bank

3,996,624

3,598,705

4,475,780

3,969,652

CREDITORS

Amounts falling due within one year

8

3,415,847

3,172,841

NET CURRENT ASSETS

1,059,933

796,811

TOTAL ASSETS LESS CURRENT LIABILITIES

1,103,017

905,799

CAPITAL AND RESERVES

Called up share capital

9

252

252

Retained earnings

1,102,765

905,547

SHAREHOLDERS' FUNDS

1,103,017

905,799

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

A N Stretton - Director

1.	STATUTORY INFORMATION

The Right Mortgage 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 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 2015, is being amortised evenly over its estimated useful life of 10 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

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

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 50 (2023 - 46 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

570,000

AMORTISATION

At 1 January 2024

484,500

Charge for year

57,000

At 31 December 2024

541,500

NET BOOK VALUE

At 31 December 2024

28,500

At 31 December 2023

85,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

115,079

9,796

124,875

Additions

-

247

247

At 31 December 2024

115,079

10,043

125,122

DEPRECIATION

At 1 January 2024

103,863

7,675

111,538

Charge for year

8,171

980

9,151

At 31 December 2024

112,034

8,655

120,689

NET BOOK VALUE

At 31 December 2024

3,045

1,388

4,433

At 31 December 2023

11,216

2,121

13,337

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

10,151

NET BOOK VALUE

At 31 December 2024

10,151

At 31 December 2023

10,151

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

253,795

36,303

Amounts owed by associates

-

3,882

Other debtors

70,158

131,540

Prepayments

155,203

199,222

479,156

370,947

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

42,251

122,812

Credit card account

3,548

7,176

Amounts owed to group undertakings

214,129

242,347

Tax

304,826

123,292

Social security and other taxes

55,814

56,874

Pension Payable

12,067

12,390

Other creditors

2,749,599

2,502,207

Directors' current accounts

8,413

6,947

Accruals and deferred income

-

14,000

Accrued expenses

25,200

84,796

3,415,847

3,172,841

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

504

Ordinary

.5

252

252

10.	RELATED PARTY DISCLOSURES

Salaries paid to Key Management Personnel for Year Ending 31st December 2024 total £410,169 (2023: £371,245).

Intercompany trading for the year amounted to £5,211,614 (2023: £4,541,691).