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Registered number: 09602796
Fairfield St George Wealth Management Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Richard Riley & Associates Ltd
Unit 37d Monument Park
Chalgrove
Oxford
Oxfordshire
OX44 7RW
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 09602796
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 23,836 23,836
23,836 23,836
CURRENT ASSETS
Debtors 5 25,593 50,860
Cash at bank and in hand 77,158 115,080
102,751 165,940
Creditors: Amounts Falling Due Within One Year 6 (30,869 ) (30,313 )
NET CURRENT ASSETS (LIABILITIES) 71,882 135,627
TOTAL ASSETS LESS CURRENT LIABILITIES 95,718 159,463
Creditors: Amounts Falling Due After More Than One Year 7 - (82,997 )
NET ASSETS 95,718 76,466
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 95,618 76,366
SHAREHOLDERS' FUNDS 95,718 76,466
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian Cox
Director
11th April 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Fairfield St George Wealth Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09602796 . The registered office is Unit 37D Monument Business Park, Warpsgrove Lane, Chalgrove, Oxfordshire, OX44 7RW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 6)
5 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 656,874
As at 30 November 2023 656,874
Amortisation
As at 1 December 2022 633,038
As at 30 November 2023 633,038
Net Book Value
As at 30 November 2023 23,836
As at 1 December 2022 23,836
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 25,593 50,860
25,593 50,860
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 -
Corporation tax 24,814 27,507
Other taxes and social security - 2,697
Net wages 4,702 10
NEST Pension 243 99
Accruals and deferred income 1,109 -
30,869 30,313
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 82,997
- 82,997
8. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
Page 4