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REGISTERED NUMBER: 07260317 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Myers Financial Management Limited

Myers Financial Management Limited (Registered number: 07260317)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Myers Financial Management Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: P Myers
Mrs C Myers





SECRETARY: Mrs C Myers





REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 07260317 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Myers Financial Management Limited (Registered number: 07260317)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 3,911 6,731

CURRENT ASSETS
Debtors 6 8,501 10,202
Cash at bank 54,959 84,479
63,460 94,681
CREDITORS
Amounts falling due within one year 7 11,427 23,484
NET CURRENT ASSETS 52,033 71,197
TOTAL ASSETS LESS CURRENT
LIABILITIES

55,944

77,928

PROVISIONS FOR LIABILITIES 978 1,683
NET ASSETS 54,966 76,245

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 20,000 20,000
Retained earnings 34,966 56,245
SHAREHOLDERS' FUNDS 54,966 76,245

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

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

Myers Financial Management Limited (Registered number: 07260317)

Statement of Financial Position - continued
31 March 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 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 13 November 2023 and were signed on its behalf by:





P Myers - Director


Myers Financial Management Limited (Registered number: 07260317)

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

1. STATUTORY INFORMATION

Myers 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents commissions and fees receivable, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
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 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 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.

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.

4. EMPLOYEES AND DIRECTORS

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

Myers Financial Management Limited (Registered number: 07260317)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 39,702 9,671 10,403 59,776
Additions - - 429 429
At 31 March 2023 39,702 9,671 10,832 60,205
DEPRECIATION
At 1 April 2022 38,245 5,795 9,005 53,045
Charge for year 1,457 969 823 3,249
At 31 March 2023 39,702 6,764 9,828 56,294
NET BOOK VALUE
At 31 March 2023 - 2,907 1,004 3,911
At 31 March 2022 1,457 3,876 1,398 6,731

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 6,100 7,907
Prepayments 2,401 2,295
8,501 10,202

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Tax 8,566 17,192
Social security and other taxes 1,177 -
Directors' current accounts 996 5,555
Accrued expenses 688 737
11,427 23,484