Moneyinfo Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03508395 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

MONEYINFO LIMITED

Page

Company Information

1

Chairman's Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr M J Cons

Ms T Coombes

Mr S Sangha

Mr T J Williams

Mr C N Coombes

Mr P Hollingdale

REGISTERED OFFICE:

Forward House

17 High Street

Henley-in-Arden

Warwickshire

B95 5AA

REGISTERED NUMBER:

03508395 (England and Wales)

ACCOUNTANTS:

TGFP

Chartered Accountants

Fulford House

Newbold Terrace

Leamington Spa

Warwickshire

CV32 4EA

The financial year 2022 was our first full year of accounting by calendar year, and the first year in which we were able to distribute a dividend to shareholders of £100,000.

Prior to 2021 our accounting year ran from the 1st April to the 31st March. In 2021, we changed our accounting year to calendar years and hence the 2021 comparison figures in these accounts are based on the 9-month period 1st April 2021 to the 31st December 2021. This year's figures by comparison are for the full 12-month period from the 1st January 2022 to the 31st December 2022.

We're on a mission to make the wealth management community be the best it can be, by taking client engagement to the next level, one ambitious firm at a time, with our client portal and mobile apps for financial advisers and wealth managers. During the year we updated our marketing message from a better client experience to game-changing client engagement and we've delivered significant growth in revenue, clients and adoption of our software.

Firms using our moneyinfo platform have grown to 177 during the year and we passed the milestone of 100,000 users in November. Equally important, we had more than 1.3 million client logins during the year highlighting the great adoption we are achieving with our firms. From our stats we can demonstrate that app-users login more than three times as often as browser users (3.7x per month compared to 1.1x per month for the browser users). Just under a quarter of our users (22,000) have the app registered but represent more than half of all logins.

Having demonstrated that clients using the app to access moneyinfo login more frequently and find the experience more convenient, we have developed an app for advisers and their team to access our management software (moneyinfo manager) on their smartphones. This shares the biometric security of the client app and brings increased convenience to secure communications between the client and the firm. To ensure consistency of messaging, responses can be templated and are recorded automatically as part of the compliance audit trail.

Uniquely in our industry, we offer our clients ongoing training and support as part of our licence fee. We deliver training as needed for firms alongside a monthly training schedule which they can subscribe to. This is one of the key reasons we are achieving such great adoption and why our clients love us. They are pleasantly surprised that when they contact us for help, we ring them back and deliver assistance via video conferencing to guide them through to a solution. In today's world of automated phone systems, annoying chat bots and email responses often taking days to get to a solution, our support and adoption teams are a clear differentiator.

We continue to live our values of being bold, trusted and together as we focus on three things - making ourselves feel great, making our clients feel great and delivering on our promises. We have a great team of people who deliver an exceptional service to our clients.

Which just leaves me to say, a big thank you to all our staff for their commitment, support, hard work and enthusiasm and to our shareholders who have shown their confidence and belief in moneyinfo.

Tom Williams

Chairman

FIXED ASSETS

Tangible assets

4

17,684

14,679

CURRENT ASSETS

Debtors

5

222,969

233,840

Cash at bank

680,155

826,296

903,124

1,060,136

CREDITORS

Amounts falling due within one year

6

281,499

339,205

NET CURRENT ASSETS

621,625

720,931

TOTAL ASSETS LESS CURRENT LIABILITIES

639,309

735,610

CAPITAL AND RESERVES

Called up and paid share capital

163,031

169,041

Share premium

99,381

99,381

Capital redemption reserve

6,010

-

Retained earnings

370,887

467,188

639,309

735,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2023 and were signed on its behalf by:

Mr M J Cons - Director

1.	STATUTORY INFORMATION

Moneyinfo Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

at varying rates on cost

Financial instruments

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. Development expenditure is written off in the same year unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.

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 27 (2021 - 27 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

65,046

Additions

15,001

At 31 December 2022

80,047

DEPRECIATION

At 1 January 2022

50,367

Charge for year

11,996

At 31 December 2022

62,363

NET BOOK VALUE

At 31 December 2022

17,684

At 31 December 2021

14,679

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

193,248

227,626

Other debtors

29,721

6,214

222,969

233,840

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

41,967

34,993

Taxation and social security

129,804

121,287

Other creditors

109,728

182,925

281,499

339,205