COMPANY REGISTRATION NUMBER:
2029793
|
Streets Financial Consulting Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Streets Financial Consulting Limited |
|
|
Statement of Financial Position |
|
31 March 2025
Fixed assets
Current assets
|
Debtors |
6 |
508,450 |
|
522,209 |
|
Cash at bank and in hand |
72,058 |
|
48,314 |
|
--------- |
|
--------- |
|
580,508 |
|
570,523 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
522,025 |
|
476,992 |
|
--------- |
|
--------- |
|
Net current assets |
|
58,483 |
93,531 |
|
|
-------- |
-------- |
|
Total assets less current liabilities |
|
58,485 |
93,533 |
|
|
-------- |
-------- |
|
Net assets |
|
58,485 |
93,533 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
50,000 |
50,000 |
|
Profit and loss account |
|
8,485 |
43,533 |
|
|
-------- |
-------- |
|
Shareholders funds |
|
58,485 |
93,533 |
|
|
-------- |
-------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Streets Financial Consulting Limited |
|
|
Statement of Financial Position (continued) |
|
31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
23 December 2025
, and are signed on behalf of the board by:
Company registration number:
2029793
|
Streets Financial Consulting Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value Added Tax, and is inclusive of accrued income for any work done not invoiced. Given the nature of the services provided the billings plus any accrued income represent the fair value of the services provided. Renewal commissions are recognised when they fall due on the renewal of the policy. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & Equipment |
- |
20% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
The group operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the group. The annual contributions payable are charged to the profit and loss account.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2024:
13
).
5.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 April 2024 and 31 March 2025 |
2 |
|
---- |
|
Impairment |
|
|
At 1 April 2024 and 31 March 2025 |
– |
|
---- |
|
|
|
Carrying amount |
|
|
At 31 March 2025 |
2 |
|
---- |
|
At 31 March 2024 |
2 |
|
---- |
|
|
The company owns 9,000 ordinary £1 shares (100%) in Nottingham Finance Shop Limited, a wholly owned and dormant UK subsidiary. The net assets of the company were £nil (2024: £nil) at the reporting date.
A further 2 ordinary £1 shares (100%) are held in Nettleham Securities Limited, a company incorporated in the UK. The net assets of the dormant company were £2 at the reporting date (2024: £2).
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
13,580 |
8,210 |
|
Other debtors |
494,870 |
513,999 |
|
--------- |
--------- |
|
508,450 |
522,209 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
38,654 |
2 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
426,000 |
430,000 |
|
Social security and other taxes |
13,601 |
11,502 |
|
Other creditors |
43,770 |
35,488 |
|
--------- |
--------- |
|
522,025 |
476,992 |
|
--------- |
--------- |
|
|
|
8.
Contingencies
A guarantee is in place between the company and certain other Streets entities in respect of any debts and liabilities of all parties to National Westminster Bank plc.
9.
Related party transactions
The company is controlled by the partners of Streets Management Services, a partnership which provides staff and accommodation on an arm's length basis, which is invoiced to this company. The partners of Streets Management Services also control a number of limited liability partnerships and limited companies. During the reporting period the directors of
Streets Financial Consulting Limited
's parent company, Lincoln Finance Shop Limited, agreed to discharge and release the company from any and all obligation to repay £34,000 of the intercompany debt. The balance outstanding as at 31 March 2025 was £426,000 (2024: £430,000) and no interest was charged during the period. At the reporting date the company was owed £nil (2024: £500,000) by Streets Management Services. No interest was charged during the period and no amounts were written off. At the reporting date the company was owed £480,000 (2024: nil) by Streets Whitmarsh Sterland LLP. No interest was charged during the period and no amounts were written off.
10.
Controlling party
The company is a wholly owned subsidiary of Lincoln Finance Shop Limited, which is incorporated in the UK. Accounts for the holding company are available from the company's registered office.