Stephen Elvin Independent Financial Advice Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10946066

Stephen Elvin Independent Financial Advice Ltd

Filleted Unaudited Financial Statements

31 October 2025

Stephen Elvin Independent Financial Advice Ltd

Statement of Financial Position

31 October 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	113,098	77,905

Current assets

Debtors	6	57,956	42,918
Cash at bank and in hand		180,734	207,458
		---------	---------
		238,690	250,376

Creditors: amounts falling due within one year	7	48,694	53,992
		---------	---------
Net current assets		189,996	196,384
		---------	---------
Total assets less current liabilities		303,094	274,289

Provisions	23,229	11,791
	---------	---------
Net assets	279,865	262,498
	---------	---------

Capital and reserves

Called up share capital	10	10
Profit and loss account	279,855	262,488
	---------	---------
Shareholders funds	279,865	262,498
	---------	---------

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 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Stephen Elvin Independent Financial Advice Ltd

Statement of Financial Position (continued)

31 October 2025

These financial statements were approved by the board of directors and authorised for issue on 19 May 2026 , and are signed on behalf of the board by:

Mr S Elvin
Director

Company registration number: 10946066

Stephen Elvin Independent Financial Advice Ltd

Notes to the Financial Statements

Year ended 31 October 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 132 Berrow Road, Burnham on Sea, Somerset, TA8 2PH.

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, 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.

Revenue recognition

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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

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. 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.

Tangible assets

Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Freehold property	-	Straight line over 10 years
Fixtures and fittings	-	20% reducing balance
Motor vehicles	-	25% reducing balance
Equipment	-	Straight line over 4 years

Impairment of fixed assets

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. For the purposes of impairment testing, 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 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 as a finance cost in profit or loss in the period it arises.

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 as a finance cost in profit or loss in the period in which it arises.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Freehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 November 2024	38,057	12,715	37,214	18,104	106,090
Additions	–	–	73,958	8,545	82,503
Disposals	–	–	( 37,214)	–	( 37,214)
	--------	--------	--------	--------	---------
At 31 October 2025	38,057	12,715	73,958	26,649	151,379
	--------	--------	--------	--------	---------
Depreciation
At 1 November 2024	11,417	5,417	–	11,351	28,185
Charge for the year	3,806	1,459	1,541	3,290	10,096
	--------	--------	--------	--------	---------
At 31 October 2025	15,223	6,876	1,541	14,641	38,281
	--------	--------	--------	--------	---------
Carrying amount
At 31 October 2025	22,834	5,839	72,417	12,008	113,098
	--------	--------	--------	--------	---------
At 31 October 2024	26,640	7,298	37,214	6,753	77,905
	--------	--------	--------	--------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	57,743	42,305
Other debtors	213	613
	--------	--------
	57,956	42,918
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Corporation tax	26,990	32,156
Social security and other taxes	11,554	10,852
Other creditors	10,150	10,984
	--------	--------
	48,694	53,992
	--------	--------

8. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr S Elvin	( 5,173)	936	( 4,237)
	-------	----	-------

	2024
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mr S Elvin	( 6,178)	1,005	( 5,173)
	-------	-------	-------