SR Financial Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10505715 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

SR FINANCIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs V J Ramsdale

Mr S T Ramsdale

REGISTERED OFFICE:

21 Kingsway

Lytham

Lancashire

FY8 1AB

REGISTERED NUMBER:

10505715 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Tangible assets

4

-

31

CURRENT ASSETS

Debtors

5

1,559

45,211

Cash at bank

54,417

12,143

55,976

57,354

CREDITORS

Amounts falling due within one year

6

(44,051

)

(44,275

)

NET CURRENT ASSETS

11,925

13,079

TOTAL ASSETS LESS CURRENT LIABILITIES

11,925

13,110

CREDITORS

Amounts falling due after more than
one year

7

(9,128

)

(12,202

)

PROVISIONS FOR LIABILITIES

8

-

(8

)

NET ASSETS

2,797

900

CAPITAL AND RESERVES

Called up share capital

9

2

Retained earnings

10

2,795

898

SHAREHOLDERS' FUNDS

2,797

900

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 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 10th October 2025 and were signed on its behalf by:

Mr S T Ramsdale - Director

1.	STATUTORY INFORMATION

SR Financial 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.

Tangible fixed assets

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

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

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.

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 cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1st April 2024

and 31st March 2025

393

2,733

3,126

DEPRECIATION

At 1st April 2024

362

2,733

3,095

Charge for year

31

-

31

At 31st March 2025

393

2,733

3,126

NET BOOK VALUE

At 31st March 2025

-

At 31st March 2024

31

-

31

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Trade debtors

-

10,383

Other debtors

1,559

34,828

1,559

45,211

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

Bank loans and overdrafts

4,673

Trade creditors

641

591

Taxation and social security

38,359

38,175

Other creditors

378

836

44,051

44,275

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

Bank loans

9,128

12,202

8.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

Deferred tax

-

8

Deferred

tax

£

Balance at 1st April 2024

8

Credit to Statement of Income and Retained Earnings during
year

(8

)

Balance at 31st March 2025

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

1

Ordinary A

£1

1

Ordinary B

£1

1

2

10.

RESERVES

Retained

earnings

£

At 1st April 2024

898

Profit for the year

100,897

Dividends

(99,000

)

At 31st March 2025

2,795

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31st March 2025 and the period ended 31st March 2024:

31.3.25

31.3.24

£

Mr S T Ramsdale

Balance outstanding at start of year

16,781

1,992

Amounts advanced

56,273

66,639

Amounts repaid

(73,118

)

(51,850

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(64

)

16,781

Mrs V J Ramsdale

Balance outstanding at start of year

16,781

1,992

Amounts advanced

56,273

66,639

Amounts repaid

(73,118

)

(51,850

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(64

)

16,781

The maximum balance the Directors Loan Account was overdrawn by during the year was £38,603. Interest has been charged at the HMRC approved interest rate and in line with HMRC rules. Amounts are repayable on demand.