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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

ELMS WEALTH MANAGEMENT LIMITED

ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELMS WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
For The Year Ended 30 November 2023







DIRECTOR: Mr R J Fellows





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 09289697 (England and Wales)






ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 4,408 5,877
4,408 5,877

CURRENT ASSETS
Debtors 6 239,640 60,524
Cash at bank 48,300 222,029
287,940 282,553
CREDITORS
Amounts falling due within one year 7 255,676 248,301
NET CURRENT ASSETS 32,264 34,252
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,672

40,129

CREDITORS
Amounts falling due after more than one year 8 (19,275 ) (22,834 )

PROVISIONS FOR LIABILITIES (1,102 ) (1,117 )
NET ASSETS 16,295 16,178

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 16,195 16,078
SHAREHOLDERS' FUNDS 16,295 16,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 17 April 2024 and were signed by:





Mr R J Fellows - Director


ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Elms Wealth 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 represents the total value of commissions earned during the year.

Goodwill
Goodwill has been written off evenly over its estimated economic life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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

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 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 21,100
AMORTISATION
At 1 December 2022
and 30 November 2023 21,100
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 December 2022
and 30 November 2023 12,846
DEPRECIATION
At 1 December 2022 6,969
Charge for year 1,469
At 30 November 2023 8,438
NET BOOK VALUE
At 30 November 2023 4,408
At 30 November 2022 5,877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates 174,410 -
Other debtors 65,230 60,524
239,640 60,524

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,239 3,152
Taxation and social security 22,847 15,662
Other creditors 229,590 229,487
255,676 248,301

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 19,275 22,834

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years 5,477 9,410

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 November 2023

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr R J Fellows
Balance outstanding at start of year 49,351 34,374
Amounts advanced - 14,977
Amounts repaid (348 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,003 49,351

Interest has been charged on the loan at the HMRC appropriate rate.