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REGISTERED NUMBER: 09126241 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

Norton Michael Financial Management
Limited

Norton Michael Financial Management
Limited (Registered number: 09126241)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Norton Michael Financial Management
Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: M Crampton





REGISTERED OFFICE: 18 Walsworth Road
Hitchin
Hertfordshire
SG4 9SP





REGISTERED NUMBER: 09126241 (England and Wales)





ACCOUNTANTS: A A Shah Limited
Chartered Certified Accountants
34 Andover Close
Luton
LU4 9EQ

Norton Michael Financial Management
Limited (Registered number: 09126241)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 108 226

CURRENT ASSETS
Debtors 5 14,758 3,352
Cash at bank and in hand 14,506 31,302
29,264 34,654
CREDITORS
Amounts falling due within one year 6 26,055 16,142
NET CURRENT ASSETS 3,209 18,512
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,317

18,738

CREDITORS
Amounts falling due after more than one
year

7

(9,000

)

(13,000

)

PROVISIONS FOR LIABILITIES - (43 )
NET (LIABILITIES)/ASSETS (5,683 ) 5,695

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings (9,683 ) 1,695
SHAREHOLDERS' FUNDS (5,683 ) 5,695

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Norton Michael Financial Management
Limited (Registered number: 09126241)

Balance Sheet - continued
31 August 2023


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 12 October 2023 and were signed by:





M Crampton - Director


Norton Michael Financial Management
Limited (Registered number: 09126241)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Norton Michael Financial Management 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.

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.

Turnover represents the value, net of value added tax and discounts of work carried out in respect of financial services provided to customers. Turnover includes receipt of fees and commission for the financial advice provided.

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 reducing balance
Computer equipment - 33% 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.

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.

The assets of the scheme are held separately from those of the company in an independently administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

Norton Michael Financial Management
Limited (Registered number: 09126241)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 649 4,894 5,543
DEPRECIATION
At 1 September 2022 508 4,809 5,317
Charge for year 35 83 118
At 31 August 2023 543 4,892 5,435
NET BOOK VALUE
At 31 August 2023 106 2 108
At 31 August 2022 141 85 226

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 816 2,233
Other debtors 12,512 232
Prepayments 1,430 887
14,758 3,352

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 1,620 205
Tax - 2,230
Social security and other taxes 597 331
Directors' current accounts 15,069 5,522
Accrued expenses 4,769 3,854
26,055 16,142

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans - 1-2 years 4,000 4,000
Bank loans - 2-5 years 5,000 9,000
9,000 13,000