Moneyinfo Limited - Accounts to registrar (filleted) - small 18.2
Moneyinfo Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| FOR |
| MONEYINFO LIMITED |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| Page |
| Company Information | 1 |
| Chairman's Report | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 5 |
| MONEYINFO LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Fulford House |
| Newbold Terrace |
| Leamington Spa |
| Warwickshire |
| CV32 4EA |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| CHAIRMAN'S REPORT |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| I am pleased to report another year of good progress for moneyinfo, with growth in revenue, profit, clients and adoption of our software as we continue to deliver a better client experience for financial advisers, wealth managers and discretionary fund managers. |
| In the very challenging environment of the last year, we have all adapted to working from home and video conferencing has become the norm rather than the exception for how we communicate with clients. Financial services was well placed to weather the storm and many of our clients have seen significant productivity increases with the removal of travel time and we expect some of the lockdown changes will lead to permanent changes to the way people work. |
| Before lockdown, we were encouraging firms to adopt the benefits of secure communications to deliver a better client experience by sharing and signing paperwork electronically. We couldn't imagine (nor wish for) a pandemic to provide the stimulus to drive the industry's adoption of electronic signatures but we were in the right place at the right time and have seen an enormous increase in the use of secure messaging and eSignatures which have grown by more than 350% over the last twelve months. |
| This in turn has led to a very successful year. We are fast approaching 150 firms live (148 at the time of writing) up from 109 this time last year. End client numbers are equally impressive up 70% on the year to more than 62,000 and importantly, producing a very healthy profit for the business to fund even faster growth. |
| We continue to invest heavily in product development for the benefit of our users and this month will see the launch of workflow to utilise the power of our messaging and document sharing to help firms automate everyday processes such as client reviews and onboarding with the benefit of the client being able to interact with the workflow through their app to both monitor progress and be gently nudged when they need to provide information to keep the process flowing. |
| Everyday we 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 |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| BALANCE SHEET |
| 31 MARCH 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up and paid share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| BALANCE SHEET - continued |
| 31 MARCH 2021 |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 1. | STATUTORY INFORMATION |
| Moneyinfo Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery etc | - |
| Government grants |
| Government grants are recognised in profit or loss on a systematic basis over the periods in which the company recognises expenses for the related costs for which the grants are intended to compensate.There has been some disruption to the business activities as a result of COVID-19. |
| 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 Statement of Income and Retained Earnings, 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. |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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 |
| MONEYINFO LIMITED (REGISTERED NUMBER: 03508395) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2020 |
| Additions |
| At 31 March 2021 |
| DEPRECIATION |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| NET BOOK VALUE |
| At 31 March 2021 |
| At 31 March 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |