Essential IFA Limited

Essential IFA Limited
Contents Page
For the year ended 20 April 2025

Statement of financial position	1
Notes to the financial statements	2

Essential IFA Limited
Statement of Financial Position
As at 20 April 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	7,526	10,034
		7,526	10,034
Current assets
Stocks		2,000	2,000
Debtors		80,971	91,537
Cash at bank and in hand		8,016	1,867
		90,987	95,404
Creditors: amount falling due within one year		(70,679)	(65,488)
Net current assets		20,308	29,916

Total assets less current liabilities		27,834	39,950
Creditors: amount falling due after more than one year		(20,416)	(25,417)
Net assets		7,418	14,533

Capital and reserves
Called up share capital		100	100
Profit and loss account		7,318	14,433
Shareholders' funds		7,418	14,533

For the year ended 20 April 2025 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 year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 23 December 2025 and were signed on its behalf by:

-------------------------------
Peter Herd
Director

1

Essential IFA Limited
Notes to the Abridged Financial Statements
For the year ended 20 April 2025

General Information

Essential IFA Limited is a private company, limited by shares, registered in England and Wales, registration number 06405586, registration address Stebbings Back Lane , Washbrook, Ipswich , Suffolk, IP8 3JA.

The presentation currency is £ sterling.

1.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	25% Reducing Balance
Fixtures and Fittings	25% Reducing Balance

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.	Average number of employees Average number of employees during the year was 2 (2024 : 2).

3.

Tangible fixed assets

Cost or valuation	Plant and Machinery	Fixtures and Fittings	Total
	£	£	£
At 21 April 2024	29,170	25,125	54,295
Additions	-	-	-
Disposals	-	-	-
At 20 April 2025	29,170	25,125	54,295
Depreciation
At 21 April 2024	25,767	18,494	44,261
Charge for year	851	1,657	2,508
On disposals	-	-	-
At 20 April 2025	26,618	20,151	46,769
Net book values
Closing balance as at 20 April 2025	2,552	4,974	7,526
Opening balance as at 21 April 2024	3,404	6,630	10,034

2

Registered Number: 06405586
England and Wales
ESSENTIAL IFA LIMITED

Abridged Accounts

Period of accounts Start date: 21 April 2024 End date: 20 April 2025