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Company registration number: 06759774
Independent Advice Limited
Financial statements
31 July 2025
Independent Advice Limited
Contents
Directors and other information
Strategic report
Directors report
Independent auditor's report to the members
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Statement of cash flows
Notes to the financial statements
Independent Advice Limited
Directors and other information

| Directors | Mr H Scott
|  | Mrs L Scott
|  | Miss C I Scott
|  | Dr L C Scott
| Secretary | Mrs L Scott
| Company number | 06759774
| Registered office | Suite C Futura Business Park
|  | Aspinall Way
|  | Bolton
|  | BL6 6PG
| Business address | Suite C Futura Business Park
|  | Aspinall Way
|  | Bolton
|  | BL6 6PG
| Auditor | Downham Morris & Co
|  | 45/49 Greek Street
|  | Stockport
|  | Cheshire
|  | SK3 8AX

Independent Advice Limited
Strategic report
Year ended 31 July 2025
Principal activities
The principal activity of the company continued to be that of chartered financial planning.
Results and performance
During the year, the company continued to perform well in a competitive market. The company saw a slight increase in activities which saw turnover rise by 8% to £918,773 (2024: £847,289). Operating profit was 47% of turnover at £431,271 (2024: £370,339). Both gross profit and operating profit percentages remained reasonably consistent with the previous year. The directors are satisfied with the performance levels achieved.
The company has maintained a good level of profitability and this is a testament to the strength of the management and staff team.
The company will continue to focus on maintaining strong relationships with its core client base.
The directors look forward to further controlled growth in 2026 and beyond.
Going concern
The company continues to trade at a high level of profitability.
The directors assessment of going concern is based on the latest available financial and non-financial information. Stress testing has been conducted and considered, taking into account any potential business disruptions and reductions in revenue or increased costs that may occur as a result of the uncertain economic outlook.
The directors consider that the company is well placed to manage it's business risks that the company has substantial liquid reserves which may be utilised against further funding to remain solvent through any periods of turbulence.
Based on the above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Key Performance Indicators
The directors consider the key performance indicators of the company to be measured by both turnover and profit before tax as described above.
The directors do not believe that there are any non-financial key performance indicators that are relevant.
Principal risks and uncertainties
The company's objective of financial risk management is to reduce the impact of price fluctuations and other factors of uncertainty in financial markets on earnings, cash flows and balance sheet, as well as to ensure sufficient liquidity.
The risks facing the company are assessed on an ongoing basis by the directors. They evaluate the likelihood and potential impact of each risk and ensure appropriate action is taken to mitigate them.
The company manages liquidity risk by having sufficient amounts of cash available and by having minimal long-term debt.
The company has a strong control framework in respect of fraud or other dishonest behaviour which is reviewed regularly.
This report was approved by the board of directors on 7 November 2025 and signed on behalf of the board by:
..............................
Mr H Scott
Director
Independent Advice Limited
Directors report
Year ended 31 July 2025
The directors present their report and the financial statements of the company for the year ended 31 July 2025.
Directors
The directors who served the company during the year were as follows:

Mr H Scott
Mrs L Scott
Miss C I Scott
Dr L C Scott

Dividends
Particulars of recommended dividends are detailed in note 12 to the financial statements.
Future developments
The company continues to review its internal processes in order to maximise future operational efficiencies whilst maintaining strong relationships with its core client base and the directors look forward to the forthcoming financial year with a continuing level of confidence.
Financial instruments
The risks facing the business are assessed on an ongoing basis by the directors. They evaluate the likelihood and potential impact of each risk, whether it be interest rate risk and ensure appropriate action is taken to mitigate them.
Events after the end of the reporting period
There no events after the reporting period.
Directors responsibilities statement
The directors are responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgments and accounting estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
This report was approved by the board of directors on 07 November 2025 and signed on behalf of the board by:
.........................
Mr H Scott
Director
Independent Advice Limited
Independent auditor's report to the members of
Independent Advice Limited
Year ended 31 July 2025
Opinion
We have audited the financial statements of Independent Advice Limited (the 'company') for the year ended 31 July 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the company's affairs as at 31 July 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and the returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding and accumulated knowledge of the company and the sector in which it operates, we considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud and whether such actions or non-compliance might have a material effect on the financial statements. These included but were not limited to those that relate to the form and content of the financial statements, such as the company accounting policies, the financial reporting framework and the UK Companies Act 2006. All team members were briefed to ensure they were aware of any relevant regulations in relation to their work.We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates as well as inappropriate revenue cut-off. Our audit procedures included, but were not limited to:- Agreement of the financial statement disclosures to underlying supporting documentation;- Identifying and testing journal entries, with a focus on journals indicating large or unusual transactions based on our understanding of the business;- Discussions with management, including consideration of known or suspected instances of non- compliance with laws and regulation and fraud; - Obtaining an understanding of the control environment in monitoring compliance with laws and regulations.Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
....................................
Ian Gwynfor Morris FCCA (Senior Statutory Auditor)
For and on behalf of
Downham Morris & Co
Statutory Auditor
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
07 November 2025
Independent Advice Limited
Statement of comprehensive income
Year ended 31 July 2025

|  |  |  | 2025 |  | 2024 |  |
|  | Note |  | £ |  | £ |  |
Turnover |  | 4 |  | 918,773 |  | 847,289 |  |
Cost of sales |  |  |  | - |  | - |  |
Administrative expenses |  |  |  | ( 487,502) |  | ( 476,950) |  |
|  |  |  | _______ |  | _______ |  |
Operating profit |  | 5 |  | 431,271 |  | 370,339 |  |
Income from other fixed asset investments |  | 8 |  | 5,850 |  | 1,924 |  |
Other interest receivable and similar income |  | 9 |  | 2,319 |  | 2,479 |  |
Interest payable and similar expenses |  | 10 |  | - |  | ( 11) |  |
|  |  |  | _______ |  | _______ |  |
Profit before taxation |  |  |  | 439,440 |  | 374,731 |  |
Tax on profit |  | 11 |  | ( 149,656) |  | ( 103,764) |  |
|  |  |  | _______ |  | _______ |  |
Profit for the financial year and total comprehensive income |  |  |  | 289,784 |  | 270,967 |  |
|  |  |  | _______ |  | _______ |  |

All the activities of the company are from continuing operations.
Independent Advice Limited
Statement of financial position
31 July 2025

|  |  | 2025 |  |  |  | 2024 |  |
|  | Note | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |  |
Intangible assets |  | 13 | 300,000 |  |  |  | 360,000 |  |
Tangible assets |  | 14 | 93,335 |  |  |  | 101,106 |  |
Investments |  | 15 | 2 |  |  |  | 7,413 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  |  |  | 393,337 |  |  |  | 468,519
Current assets |  |  |  |  |  |  |  |  |
Debtors |  | 16 | 652 |  |  |  | 4,934 |  |
Investments |  | 17 | 153,260 |  |  |  | - |  |
Cash at bank and in hand |  |  | 84,204 |  |  |  | 187,551 |  |
|  |  | _______ |  |  |  | _______ |  |
|  |  | 238,116 |  |  |  | 192,485 |  |
Creditors: amounts falling due |  |  |  |  |  |  |  |  |
within one year |  | 18 | ( 120,985) |  |  |  | ( 81,654) |  |
|  |  | _______ |  |  |  | _______ |  |
Net current assets |  |  |  |  | 117,131 |  |  |  | 110,831
|  |  |  |  | _______ |  |  |  | _______
Total assets less current liabilities |  |  |  |  | 510,468 |  |  |  | 579,350
Provisions for liabilities |  | 19 |  |  | ( 23,334) |  |  |  | -
|  |  |  |  | _______ |  |  |  | _______
Net assets |  |  |  |  | 487,134 |  |  |  | 579,350
|  |  |  |  | _______ |  |  |  | _______
Capital and reserves |  |  |  |  |  |  |  |  |
Called up share capital |  | 22 |  |  | 10,000 |  |  |  | 10,000
Profit and loss account |  | 23 |  |  | 477,134 |  |  |  | 569,350
|  |  |  |  | _______ |  |  |  | _______
Shareholders funds |  |  |  |  | 487,134 |  |  |  | 579,350
|  |  |  |  | _______ |  |  |  | _______

These financial statements were approved by the board of directors and authorised for issue on 07 November 2025 , and are signed on behalf of the board by:
.........................
Mr H Scott
Director
Company registration number: 06759774
Independent Advice Limited
Statement of changes in equity
Year ended 31 July 2025

|  | Called up share capital |  | Profit and loss account | Total |  |  |  |  |
|  | £ |  | £ | £ |  |  |  |  |
At 1 August 2023 |  | 10,000 |  | 618,383 | 628,383 |  |  |  |  |
Profit for the year |  |  |  | 270,967 | 270,967 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 270,967 | 270,967 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 320,000) | ( 320,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 320,000) | ( 320,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 July 2024 and 1 August 2024 |  | 10,000 |  | 569,350 | 579,350 |  |  |  |  |
Profit for the year |  |  |  | 289,784 | 289,784 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total comprehensive income for the year |  | - |  | 289,784 | 289,784 |  |  |  |  |
Dividends paid and payable |  |  |  | ( 382,000) | ( 382,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
Total investments by and distributions to owners |  | - |  | ( 382,000) | ( 382,000) |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |
At 31 July 2025 |  | 10,000 |  | 477,134 | 487,134 |  |  |  |  |
|  | _______ |  | _______ | _______ |  |  |  |  |

Independent Advice Limited
Statement of cash flows
Year ended 31 July 2025

|  | 2025 |  | 2024 |
|  | £ |  | £ |
Cash flows from operating activities |  |  |  |  |
Profit for the financial year |  | 289,784 |  | 270,967 |
Adjustments for: |  |  |  |  |
Depreciation of tangible assets |  | 23,838 |  | 25,949 |
Amortisation of intangible assets |  | 60,000 |  | 60,000 |
Income from other fixed asset investments |  | ( 5,850) |  | ( 1,924) |
Other interest receivable and similar income |  | ( 2,319) |  | ( 2,479) |
Interest payable and similar expenses |  | - |  | 11 |
Tax on profit |  | 149,656 |  | 103,764 |
Accrued expenses/(income) |  | 750 |  | 330 |
Changes in: |  |  |  |  |
Trade and other debtors |  | 4,284 |  | 28,224 |
|  | _______ |  | _______ |
Cash generated from operations |  | 520,143 |  | 484,842 |
Interest paid |  | - |  | ( 11) |
Interest received |  | 2,319 |  | 2,479 |
Tax paid |  | ( 89,764) |  | ( 150,448) |
|  | _______ |  | _______ |
Net cash from operating activities |  | 432,698 |  | 336,862 |
|  | _______ |  | _______ |
Cash flows from investing activities |  |  |  |  |
Purchase of tangible assets |  | ( 16,068) |  | ( 45,709) |
Purchase of other investments |  | ( 136,678) |  | ( 39,196) |
Proceeds from sale of other investments |  | (3,788) |  | 159,036 |
Dividends received |  | 466 |  | 160 |
|  | _______ |  | _______ |
Net cash (used in)/from investing activities |  | ( 156,068) |  | 74,291 |
|  | _______ |  | _______ |
Cash flows from financing activities |  |  |  |  |
Proceeds from borrowings |  | 2,023 |  | ( 3,500) |
Equity dividends paid |  | ( 382,000) |  | ( 320,000) |
|  | _______ |  | _______ |
Net cash used in financing activities |  | ( 379,977) |  | ( 323,500) |
|  | _______ |  | _______ |
Net increase/(decrease) in cash and cash equivalents |  | ( 103,347) |  | 87,653 |
Cash and cash equivalents at beginning of year |  | 187,551 |  | 99,898 |
|  | _______ |  | _______ |
Cash and cash equivalents at end of year |  | 84,204 |  | 187,551 |
|  | _______ |  | _______ |

Independent Advice Limited
Notes to the financial statements
Year ended 31 July 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 Suite C Futura Business Park, Aspinall Way, Bolton, BL6 6PG.
2. 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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, 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.
When the outcome of a transaction involving the rendering of services 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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill | - | 5 % | straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:

| Fittings fixtures and equipment | - | 20 % | reducing balance
| Motor vehicles | - | 25 % | reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
Critical accounting policies
In the application of the Company's accounting policies, which are described in note 3, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Critical judgements in applying the Company's accounting policies
The directors do not consider that the amounts recognised in the current or prior year financial statements have been significantly affected by any critical judgments made in the process of applying the Company's accounting policies.
4. Turnover
Turnover arises from:

|  |  | 2025 | 2024
|  |  | £ | £
| Rendering of services |  | 918,773 | 847,289
|  |  | _______ | _______

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating profit
Operating profit is stated after charging/(crediting):

|  |  |  | 2025 | 2024
|  |  |  | £ | £
| Amortisation of intangible assets |  |  | 60,000 | 60,000
| Depreciation of tangible assets |  |  | 23,838 | 25,949
| Operating lease rentals |  |  | - | 3,848
|  |  |  | _______ | _______

6. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to:

|  |  | 2025 | 2024
| Directors |  | 4 | 4
| Office and admin |  | 3 | 3
|  |  | _______ | _______
|  |  | 7 | 7
|  |  | _______ | _______

The aggregate payroll costs incurred during the year were:

|  |  | 2025 | 2024
|  |  | £ | £
| Wages and salaries |  | 149,035 | 171,328
| Social security costs |  | 12,622 | 12,108
| Other pension costs |  | 121,167 | 24,500
|  |  | _______ | _______
|  |  | 282,824 | 207,936
|  |  | _______ | _______

7. Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:

|  |  | 2025 | 2024
|  |  | £ | £
| Remuneration |  | 83,335 | 104,728
| Company contributions to pension schemes in respect of qualifying services |  | 121,167 | 24,500
|  |  | _______ | _______
|  |  | 204,502 | 129,228
|  |  | _______ | _______

8. Income from other fixed asset investments

|  |  | 2025 | 2024
|  |  | £ | £
| Dividends from other FA investments |  | 466 | 160
| Gain/loss on disposal of other FA investments |  | (3,788) | 9,036
| Gain/loss on FV adj to other FA investments |  | 8,409 | (8,005)
| Other income from other FA investments |  | 763 | 733
|  |  | _______ | _______
|  |  | 5,850 | 1,924
|  |  | _______ | _______

9. Other interest receivable and similar income

|  |  | 2025 | 2024
|  |  | £ | £
| Other interest receivable and similar income |  | 2,319 | 2,479
|  |  | _______ | _______

10. Interest payable and similar expenses

|  |  |  | 2025 | 2024
|  |  |  | £ | £
| Other interest payable and similar expenses |  |  | - | 11
|  |  |  | _______ | _______

11. Tax on profit
Major components of tax expense

|  |  | 2025 | 2024
|  |  | £ | £
| Current tax: |  |  |
| UK current tax expense |  | 126,322 | 103,764
|  |  | _______ | _______
| Deferred tax: |  |  |
| Origination and reversal of timing differences |  | 23,334 | -
|  |  | _______ | _______
| Tax on profit |  | 149,656 | 103,764
|  |  | _______ | _______

Reconciliation of tax expense
The tax assessed on the profit for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

|  |  | 2025 | 2024
|  |  | £ | £
| Profit before taxation |  | 439,440 | 374,731
|  |  | _______ | _______
| Profit multiplied by rate of tax |  | 109,860 | 93,683
| Effect of expenses not deductible for tax purposes |  | ( 481) | 21
| Effect of capital allowances and depreciation |  | 40,277 | 10,060
|  |  | _______ | _______
| Tax on profit |  | 149,656 | 103,764
|  |  | _______ | _______

12. Dividends
Equity dividends

|  |  | 2025 | 2024
|  |  | £ | £
| Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) |  | 382,000 | 320,000
|  |  | _______ | _______

13. Intangible assets

|  | Goodwill | Total |  |  |  |
|  | £ | £ |  |  |  |
| Cost |  |  |  |  |  |
| At 1 August 2024 and 31 July 2025 | 1,200,000 | 1,200,000 |  |  |  |
|  | _______ | _______ |  |  |  |
| Amortisation |  |  |  |  |  |
| At 1 August 2024 | 840,000 | 840,000 |  |  |  |
| Charge for the year | 60,000 | 60,000 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 July 2025 | 900,000 | 900,000 |  |  |  |
|  | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 July 2025 | 300,000 | 300,000 |  |  |  |
|  | _______ | _______ |  |  |  |
| At 31 July 2024 | 360,000 | 360,000 |  |  |  |
|  | _______ | _______ |  |  |  |

14. Tangible assets

|  | Fixtures, fittings and equipment | Motor vehicles | Total |  |  |  |
|  | £ | £ | £ |  |  |  |
| Cost |  |  |  |  |  |  |
| At 1 August 2024 | 75,369 | 179,089 | 254,458 |  |  |  |
| Additions | 16,068 | - | 16,068 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 July 2025 | 91,437 | 179,089 | 270,526 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Depreciation |  |  |  |  |  |  |
| At 1 August 2024 | 56,252 | 97,101 | 153,353 |  |  |  |
| Charge for the year | 7,037 | 16,801 | 23,838 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 July 2025 | 63,289 | 113,902 | 177,191 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| Carrying amount |  |  |  |  |  |  |
| At 31 July 2025 | 28,148 | 65,187 | 93,335 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |
| At 31 July 2024 | 19,117 | 81,988 | 101,105 |  |  |  |
|  | _______ | _______ | _______ |  |  |  |

15. Investments

|  | Shares in group undertakings | Other investments other than loans | Total |  |  |
|  | £ | £ | £ |  |  |
| Cost |  |  |  |  |  |
| At 1 August 2024 | 2 | 7,410 | 7,412 |  |  |
| Other movements | - | ( 7,410) | ( 7,410) |  |  |
|  | _______ | _______ | _______ |  |  |
| At 31 July 2025 | 2 | - | 2 |  |  |
|  | _______ | _______ | _______ |  |  |
| Impairment |  |  |  |  |  |
| At 1 August 2024 and 31 July 2025 | - | - | - |  |  |
|  | _______ | _______ | _______ |  |  |
| Carrying amount |  |  |  |  |  |
| At 31 July 2025 | 2 | - | 2 |  |  |
|  | _______ | _______ | _______ |  |  |
| At 31 July 2024 | 2 | 7,410 | 7,412 |  |  |
|  | _______ | _______ | _______ |  |  |

16. Debtors

|  |  | 2025 | 2024
|  |  | £ | £
| Trade debtors |  | 150 | 4,443
| Prepayments and accrued income |  | 502 | 491
|  |  | _______ | _______
|  |  | 652 | 4,934
|  |  | _______ | _______

17. Investments

|  |  | 2025 | 2024
|  |  | £ | £
| Other investments |  | 153,260 | -
|  |  | _______ | _______

18. Creditors: amounts falling due within one year

|  |  | 2025 | 2024
|  |  | £ | £
| Accruals and deferred income |  | 6,895 | 6,145
| Corporation tax |  | 110,322 | 73,764
| Director loan accounts |  | 3,768 | 1,745
|  |  | _______ | _______
|  |  | 120,985 | 81,654
|  |  | _______ | _______

19. Provisions

|  | Deferred tax (note 20) | Total |  |  |
|  | £ | £ |  |  |
| At 1 August 2024 | - | - |  |  |
| Charges against provisions | 23,334 | 23,334 |  |  |
|  | _______ | _______ |  |  |
| At 31 July 2025 | 23,334 | 23,334 |  |  |
|  | _______ | _______ |  |  |

20. Deferred tax
The deferred tax included in the statement of financial position is as follows:

|  |  | 2025 | 2024
|  |  | £ | £
| Included in provisions (note 19) |  | 23,334 | -
|  |  | _______ | _______

The deferred tax account consists of the tax effect of timing differences in respect of:

|  |  | 2025 | 2024
|  |  | £ | £
| Accelerated capital allowances |  | 23,334 | -
|  |  | _______ | _______

21. Employee benefits
The amount recognised in profit or loss in relation to defined contribution plans was £ 121,167 (2024: £ 24,500 ).
22. Called up share capital
Issued, called up and fully paid

|  |  | 2025 |  |  |  | 2024 |  |
|  |  | No |  | £ |  | No |  | £
| Ordinary shares of £ 1.00 each |  | 6,000 |  | 6,000 |  | 10,000 |  | 10,000
| Ordinary HL shares of £ 1.00 each |  | 200 |  | 200 |  | - |  | -
| Ordinary C shares of £ 1.00 each |  | 1,900 |  | 1,900 |  | - |  | -
| Ordinary L shares of £ 1.00 each |  | 1,900 |  | 1,900 |  | - |  | -
|  |  | _______ |  | _______ |  | _______ |  | _______
|  |  | 10,000 |  | 10,000 |  | 10,000 |  | 10,000
|  |  | _______ |  | _______ |  | _______ |  | _______

23. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
24. Directors advances, credits and guarantees

| During the year the directors entered into the following advances and credits with the company: |  |  |  |  |  |
2025 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mr H Scott | ( 1,745) | ( 2,023) | ( 3,768) |  |  |
|  | _______ | _______ | _______ |  |  |
2024 |  |  |  |  |  |  |
|  | Balance brought forward | Advances /(credits) to the directors | Balance o/standing |  |  |
|  | £ | £ | £ |  |  |
| Mr H Scott | ( 5,245) | 3,500 | ( 1,745) |  |  |
|  | _______ | _______ | _______ |  |  |

No interest is charged on loan amounts due to and from the directors and loans are repayable on demand.
25. Related party transactions
During the period the directors of the company received dividends totalling £382,000 (2024: £320,000).
26. Controlling party
The company is under the control of the directors by virtue of their shareholdings.