Ratcliff Independent Mortgage Advisers - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09350993 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

RATCLIFF INDEPENDENT MORTGAGE

ADVISERS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

G O Ratcliff

Mrs C M Ratcliff

REGISTERED OFFICE:

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

REGISTERED NUMBER:

09350993 (England and Wales)

ACCOUNTANTS:

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

FIXED ASSETS

Tangible assets

4

128

256

CURRENT ASSETS

Debtors

25,212

3,845

Cash at bank

47

10,100

25,259

13,945

CREDITORS

Amounts falling due within one year

10,281

13,827

NET CURRENT ASSETS

14,978

118

TOTAL ASSETS LESS CURRENT LIABILITIES

15,106

374

CREDITORS

Amounts falling due after more than one year

14,948

-

NET ASSETS

158

374

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

58

274

SHAREHOLDERS' FUNDS

158

374

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2021 and were signed on its behalf by:

G O Ratcliff - Director

1.	STATUTORY INFORMATION

Ratcliff Independent Mortgage Advisers 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 company's place of business is located in Thorpe Bay. This is different to the company's registered office address.

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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2020

and 31 December 2020

1,220

DEPRECIATION

At 1 January 2020

964

Charge for year

128

At 31 December 2020

1,092

NET BOOK VALUE

At 31 December 2020

128

At 31 December 2019

256

5.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bounce Back loan

17,101

-

The Bounce Back loan is secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

80

"A" Ordinary

£1

80

80

20

"B" Ordinary

£1

20

20

100

100

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2020 and 31 December 2019:

2020

2019

£

£

G O Ratcliff and Mrs C M Ratcliff

Balance outstanding at start of year

-

-

Amounts advanced

18,482

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

18,482

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ratcliff Independent Mortgage Advisers Limited for the year ended 31 December 2020 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Ratcliff Independent Mortgage Advisers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ratcliff Independent Mortgage Advisers Limited and state those matters that we have agreed to state to the Board of Directors of Ratcliff Independent Mortgage Advisers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ratcliff Independent Mortgage Advisers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ratcliff Independent Mortgage Advisers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ratcliff Independent Mortgage Advisers Limited. You consider that Ratcliff Independent Mortgage Advisers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ratcliff Independent Mortgage Advisers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Goldwyns Limited

Chartered Accountants

Rutland House

90-92 Baxter Avenue

Southend on Sea

Essex

SS2 6HZ

23 September 2021