Moneytree Financial Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06749896 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 December 2020

for

Moneytree Financial Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P C Forster

REGISTERED OFFICE:

Suite 2a Sutton House

Ashville Point

Sutton Weaver

Cheshire

WA7 3FW

REGISTERED NUMBER:

06749896 (England and Wales)

ACCOUNTANTS:

Woodhouse Chartered Accountants

25 Netherwood Road

Manchester

M22 4BW

FIXED ASSETS

Intangible assets

4

64,100

85,100

CURRENT ASSETS

Cash at bank

8,075

-

CREDITORS

Amounts falling due within one year

5

94,272

172,000

NET CURRENT LIABILITIES

(86,197

)

(172,000

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(22,097

)

(86,900

)

CREDITORS

Amounts falling due after more than one year

6

108,507

-

NET LIABILITIES

(130,604

)

(86,900

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(130,704

)

(87,000

)

(130,604

)

(86,900

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2021 and were signed by:

P C Forster - Director

1.	STATUTORY INFORMATION

Moneytree Financial Solutions Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 31 December 2019

and 30 December 2020

259,000

AMORTISATION

At 31 December 2019

173,900

Charge for year

21,000

At 30 December 2020

194,900

NET BOOK VALUE

At 30 December 2020

64,100

At 30 December 2019

85,100

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.20

30.12.19

£

£

Bank loans and overdrafts

-

99

Taxation and social security

3,111

6,852

Other creditors

91,161

165,049

94,272

172,000

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.12.20

30.12.19

£

£

Bank loans

50,000

-

Other creditors

58,507

-

108,507

-