Company registration number 09525692 (England and Wales)
FIRMITAS FINANCIAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
FIRMITAS FINANCIAL SERVICES LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
FIRMITAS FINANCIAL SERVICES LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. P Williams
Mr. B Larkin
Mr. S Davies
Mr. T Edin
Company number
09525692
Registered office
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
Accountants
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
FIRMITAS FINANCIAL SERVICES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Goodwill
4
3,025,158
3,291,303
Tangible assets
5
4,547
7,011
3,029,705
3,298,314
Current assets
Debtors
6
218,161
201,997
Cash at bank and in hand
214,802
84,631
432,963
286,628
Creditors: amounts falling due within one year
7
(852,988)
(674,086)
Net current liabilities
(420,025)
(387,458)
Total assets less current liabilities
2,609,680
2,910,856
Creditors: amounts falling due after more than one year
8
(1,876,471)
(2,058,809)
Provisions for liabilities
Provisions
9
63,350
50,250
Deferred tax liability
1,137
1,753
(64,487)
(52,003)
Net assets
668,722
800,044
Capital and reserves
Called up share capital
10
160
160
Profit and loss reserves
668,562
799,884
Total equity
668,722
800,044
FIRMITAS FINANCIAL SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 7 July 2025 and are signed on its behalf by:
Mr. P Williams
Director
Company Registration No. 09525692
The notes on pages 4 to 10 form part of these financial statements
FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
1
Accounting policies
Company information

Firmitas Financial Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Acorn Business Centre, Northarbour Road, Cosham, Portsmouth, Hampshire, PO6 3TH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net current liabilities. The company is dependent on the support of its directors, who have confirmed they will continue to provide such support. Therefore the directors feel it appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

The turnover shown in the profit and loss account represents commissions received during the period.

1.4
Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 - 15 years.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.12
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
15
14
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
4,178,666
Amortisation and impairment
At 1 April 2024
887,363
Amortisation charged for the year
266,145
At 31 March 2025
1,153,508
Carrying amount
At 31 March 2025
3,025,158
At 31 March 2024
3,291,303
FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2024
21,426
Additions
2,013
At 31 March 2025
23,439
Depreciation and impairment
At 1 April 2024
14,415
Depreciation charged in the year
4,477
At 31 March 2025
18,892
Carrying amount
At 31 March 2025
4,547
At 31 March 2024
7,011
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
156,227
141,952
Amounts owed by group undertakings
-
0
59,745
Other debtors
61,934
300
218,161
201,997
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
9,952
9,952
Amounts due to group undertakings
117,048
128,768
Other taxation and social security
128,104
88,241
Other creditors
597,884
447,125
852,988
674,086
FIRMITAS FINANCIAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 10 -
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
2,265
12,466
Other creditors
1,874,206
2,046,343
1,876,471
2,058,809
9
Provisions for liabilities
2025
2024
£
£
Clawback
63,350
50,250
Deferred tax liabilities
1,137
1,753
64,487
52,003
10
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
370 Ordinary A shares of 10p each
37
37
370 Ordinary B shares of 10p each
37
37
240 Ordinary C shares of 10p each
24
24
240 Ordinary D shares of 10p each
24
24
150 Ordinary E shares of 10p each
15
15
80 Ordinary F shares of 10p each
8
8
150 Ordinary G shares of 10p each
15
15
160
160

2025-03-31 2024-04-01 false false false CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr. P Williams Mr. B Larkin Mr. S Davies Mr. T Edin 09525692 2024-04-01 2025-03-31 09525692 bus:Director1 2024-04-01 2025-03-31 09525692 bus:Director2 2024-04-01 2025-03-31 09525692 bus:Director3 2024-04-01 2025-03-31 09525692 bus:Director4 2024-04-01 2025-03-31 09525692 bus:RegisteredOffice 2024-04-01 2025-03-31 09525692 2025-03-31 09525692 core:Goodwill 2025-03-31 09525692 core:Goodwill 2024-03-31 09525692 2024-03-31 09525692 core:OtherPropertyPlantEquipment 2025-03-31 09525692 core:OtherPropertyPlantEquipment 2024-03-31 09525692 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 09525692 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09525692 core:CurrentFinancialInstruments 2025-03-31 09525692 core:CurrentFinancialInstruments 2024-03-31 09525692 core:Non-currentFinancialInstruments 2025-03-31 09525692 core:Non-currentFinancialInstruments 2024-03-31 09525692 core:ShareCapital 2025-03-31 09525692 core:ShareCapital 2024-03-31 09525692 core:RetainedEarningsAccumulatedLosses 2025-03-31 09525692 core:RetainedEarningsAccumulatedLosses 2024-03-31 09525692 core:ShareCapitalOrdinaryShareClass2 2025-03-31 09525692 core:ShareCapitalOrdinaryShareClass2 2024-03-31 09525692 core:ShareCapitalOrdinaryShareClass3 2025-03-31 09525692 core:ShareCapitalOrdinaryShareClass3 2024-03-31 09525692 core:ShareCapitalOrdinaryShareClass4 2025-03-31 09525692 core:ShareCapitalOrdinaryShareClass4 2024-03-31 09525692 core:ShareCapitalOrdinaryShareClass5 2025-03-31 09525692 core:ShareCapitalOrdinaryShareClass5 2024-03-31 09525692 core:ShareCapitalOrdinaryShares 2025-03-31 09525692 core:ShareCapitalOrdinaryShares 2024-03-31 09525692 core:Goodwill 2024-04-01 2025-03-31 09525692 core:ComputerEquipment 2024-04-01 2025-03-31 09525692 2023-04-01 2024-03-31 09525692 core:Goodwill 2024-03-31 09525692 core:OtherPropertyPlantEquipment 2024-03-31 09525692 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 09525692 core:WithinOneYear 2025-03-31 09525692 core:WithinOneYear 2024-03-31 09525692 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09525692 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 09525692 bus:FRS102 2024-04-01 2025-03-31 09525692 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 09525692 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP