IRIS Accounts Production v24.1.0.578 08286869 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082868692023-03-31082868692024-03-31082868692023-04-012024-03-31082868692022-03-31082868692022-04-012023-03-31082868692023-03-3108286869ns15:EnglandWales2023-04-012024-03-3108286869ns14:PoundSterling2023-04-012024-03-3108286869ns10:Director12023-04-012024-03-3108286869ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3108286869ns10:SmallEntities2023-04-012024-03-3108286869ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3108286869ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3108286869ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108286869ns10:FullAccounts2023-04-012024-03-3108286869ns10:RegisteredOffice2023-04-012024-03-3108286869ns5:CurrentFinancialInstruments2024-03-3108286869ns5:CurrentFinancialInstruments2023-03-3108286869ns5:Non-currentFinancialInstruments2024-03-3108286869ns5:Non-currentFinancialInstruments2023-03-3108286869ns5:ShareCapital2024-03-3108286869ns5:ShareCapital2023-03-3108286869ns5:RetainedEarningsAccumulatedLosses2024-03-3108286869ns5:RetainedEarningsAccumulatedLosses2023-03-3108286869ns5:MotorVehicles2023-03-3108286869ns5:ComputerEquipment2023-03-3108286869ns5:MotorVehicles2023-04-012024-03-3108286869ns5:ComputerEquipment2023-04-012024-03-3108286869ns5:MotorVehicles2024-03-3108286869ns5:ComputerEquipment2024-03-3108286869ns5:MotorVehicles2023-03-3108286869ns5:ComputerEquipment2023-03-3108286869ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3108286869ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-310828686912023-04-012024-03-31
REGISTERED NUMBER: 08286869 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Bamford Wealth Management Limited

Bamford Wealth Management Limited (Registered number: 08286869)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bamford Wealth Management Limited

Company Information
for the Year Ended 31 March 2024







Director: B O Bamford





Registered office: Troyte House
Enigma Commercial Centre
Sandys Road
Malvern
Worcestershire
WR14 1JJ





Registered number: 08286869 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

Bamford Wealth Management Limited (Registered number: 08286869)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 50,836 67,567

CURRENT ASSETS
Debtors 5 65,829 57,032
Cash at bank 142,706 147,371
208,535 204,403
CREDITORS
Amounts falling due within one year 6 93,573 89,065
NET CURRENT ASSETS 114,962 115,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

165,798

182,905

CREDITORS
Amounts falling due after more than one year 7 (49,482 ) (69,550 )

PROVISIONS FOR LIABILITIES (8,315 ) (11,524 )
NET ASSETS 108,001 101,831

CAPITAL AND RESERVES
Called up share capital 1,001 1,001
Retained earnings 107,000 100,830
SHAREHOLDERS' FUNDS 108,001 101,831

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Bamford Wealth Management Limited (Registered number: 08286869)

Balance Sheet - continued
31 March 2024


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 20 May 2024 and were signed by:





B O Bamford - Director


Bamford Wealth Management Limited (Registered number: 08286869)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Bamford 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.

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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements; estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered· to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoices are not raised until a contract is complete so the value of incomplete services in included as Amounts recoverable on contracts in the balance sheet.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

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.

Bamford Wealth Management Limited (Registered number: 08286869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Current tax: including UK corporation tax, is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only when, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. ·

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of the timing difference.
Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.

Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the amounts and the company intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

Deferred tax assets and liabilities are offset only if: a) the company has a legally enforceable right to set off current tax assets against current tax liabilities; and b) the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of ·deferred tax liabilities or assets are expected to be settled or recovered.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Bamford Wealth Management Limited (Registered number: 08286869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. PROPERTY, PLANT AND EQUIPMENT
Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 April 2023 47,913 51,744 99,657
Additions - 2,422 2,422
Disposals (4,094 ) (330 ) (4,424 )
At 31 March 2024 43,819 53,836 97,655
Depreciation
At 1 April 2023 9,726 22,364 32,090
Charge for year 9,547 8,355 17,902
Eliminated on disposal (3,129 ) (44 ) (3,173 )
At 31 March 2024 16,144 30,675 46,819
Net book value
At 31 March 2024 27,675 23,161 50,836
At 31 March 2023 38,187 29,380 67,567

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 50,317 46,460
Other debtors 15,512 10,572
65,829 57,032

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 9,885 8,530
Amounts owed to group undertakings - 28,302
Taxation and social security 55,818 38,446
Other creditors 27,870 13,787
93,573 89,065

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 36,391 46,276
Other creditors 13,091 23,274
49,482 69,550

Bamford Wealth Management Limited (Registered number: 08286869)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RELATED PARTY DISCLOSURES

As at the year end 31 March 2024, the company had the following inter-group balances:

B Bamford Limited: £47,848 (2023: £46,460)
B Bamford Holdings Limited: £2,469 (2023: £-28,302)

The above balances have been included within other debtors and creditors. These loans are interest free and repayable on demand.

A group member, B Bamford Limited, has a loan secured with fixed and floating charges over the assets held within the company.

9. ULTIMATE CONTROLLING PARTY

Please note the company is a wholly owned subsidiary of B Bamford Holdings Limited:

Registered number: 10501177

Registered office:

Troyte House Enigma Commercial Centre
Sandys Road
Malvern
Worcestershire
England
WR14 1JJ

The company remains under the ultimate control of Mr B O Bamford.