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REGISTERED NUMBER: 04934070 (England and Wales)












DAVID KNEALE FINANCIAL MANAGEMENT LTD.

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






DAVID KNEALE FINANCIAL MANAGEMENT LTD. (REGISTERED NUMBER: 04934070)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DAVID KNEALE FINANCIAL MANAGEMENT LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







Director: Mr G E Lane





Secretary: Mr G E Lane





Registered office: 1 Aalborg Place
LANCASTER
LA1 1BJ





Registered number: 04934070 (England and Wales)





Accountants: Scott & Wilkinson
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

DAVID KNEALE FINANCIAL MANAGEMENT LTD. (REGISTERED NUMBER: 04934070)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 977 -
977 -

Current assets
Debtors 6 583,020 616,148
Investments 7 - 100,000
Cash at bank and in hand 39,163 57,732
622,183 773,880
Creditors
Amounts falling due within one year 8 89,076 139,628
Net current assets 533,107 634,252
Total assets less current liabilities 534,084 634,252

Creditors
Amounts falling due after more than one
year

9

(14,806

)

(24,946

)

Accruals and deferred income - (5,894 )
Net assets 519,278 603,412

Capital and reserves
Called up share capital 10,004 10,004
Retained earnings 509,274 593,408
519,278 603,412

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

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

DAVID KNEALE FINANCIAL MANAGEMENT LTD. (REGISTERED NUMBER: 04934070)

BALANCE SHEET - continued
31 DECEMBER 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 director and authorised for issue on 2 April 2024 and were signed by:





Mr G E Lane - Director


DAVID KNEALE FINANCIAL MANAGEMENT LTD. (REGISTERED NUMBER: 04934070)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. Statutory information

David Kneale Financial Management Ltd. 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of seven 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.
Plant and machinery etc - 25% on reducing balance

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.

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.

DAVID KNEALE FINANCIAL MANAGEMENT LTD. (REGISTERED NUMBER: 04934070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. Accounting policies - continued

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 4 (2022 - 6 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 1,050,000
Amortisation
At 1 January 2023
and 31 December 2023 1,050,000
Net book value
At 31 December 2023 -
At 31 December 2022 -

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 January 2023 5,909
Additions 1,302
At 31 December 2023 7,211
Depreciation
At 1 January 2023 5,909
Charge for year 325
At 31 December 2023 6,234
Net book value
At 31 December 2023 977

DAVID KNEALE FINANCIAL MANAGEMENT LTD. (REGISTERED NUMBER: 04934070)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 132,770 140,074
Other debtors 450,250 476,074
583,020 616,148

7. Current asset investments
2023 2022
£    £   
Unlisted investments - 100,000

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,140 9,890
Taxation and social security 72,600 128,320
Other creditors 6,336 1,418
89,076 139,628

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 14,806 24,946

10. Related party disclosures

During the year the company loaned monies to another company owned by a director/majority shareholder. The balance outstanding at 31 December 2023 was £450,250 (31 December 2022 £460,250)