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REGISTERED NUMBER: 12423292 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

STAFFORD FINANCIAL MANAGEMENT LTD

STAFFORD FINANCIAL MANAGEMENT LTD (REGISTERED NUMBER: 12423292)






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


STAFFORD FINANCIAL MANAGEMENT LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







Director: Mr M A Stafford





Registered office: 1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ





Registered number: 12423292 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

STAFFORD FINANCIAL MANAGEMENT LTD (REGISTERED NUMBER: 12423292)

Balance Sheet
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 337,426 123,148
Tangible assets 5 760 877
338,186 124,025

CURRENT ASSETS
Debtors 6 17,138 13,643
Cash at bank 2,852 2,442
19,990 16,085
CREDITORS
Amounts falling due within one year 7 245,258 26,306
NET CURRENT LIABILITIES (225,268 ) (10,221 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,918

113,804

CREDITORS
Amounts falling due after more than one year 8 112,645 113,286
NET ASSETS 273 518

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 272 517
SHAREHOLDERS' FUNDS 273 518

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.

STAFFORD FINANCIAL MANAGEMENT LTD (REGISTERED NUMBER: 12423292)

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 29 July 2024 and were signed by:





Mr M A Stafford - Director


STAFFORD FINANCIAL MANAGEMENT LTD (REGISTERED NUMBER: 12423292)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Stafford 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.

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 as modified by the revaluation of certain assets.

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 2020, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% 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 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 (2023 - 2 ) .

STAFFORD FINANCIAL MANAGEMENT LTD (REGISTERED NUMBER: 12423292)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST OR VALUATION
At 1 April 2023 158,901
Additions 230,168
At 31 March 2024 389,069
AMORTISATION
At 1 April 2023 35,753
Amortisation for year 15,890
At 31 March 2024 51,643
NET BOOK VALUE
At 31 March 2024 337,426
At 31 March 2023 123,148

Cost or valuation at 31 March 2024 is represented by:

Goodwill
£   
Valuation in 2021 158,901
Valuation in 2024 230,168
389,069

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 1,165
DEPRECIATION
At 1 April 2023 288
Charge for year 117
At 31 March 2024 405
NET BOOK VALUE
At 31 March 2024 760
At 31 March 2023 877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,280 9,467
Other debtors 10,858 4,176
17,138 13,643

STAFFORD FINANCIAL MANAGEMENT LTD (REGISTERED NUMBER: 12423292)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 22,969 15,828
Other creditors 222,289 10,478
245,258 26,306

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 112,645 113,286

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary 1 1 1

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr M A Stafford
Balance outstanding at start of year 4,176 (3,720 )
Amounts advanced 81,995 77,837
Amounts repaid (75,822 ) (69,941 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,349 4,176

The balance was repaid immediately following the balance sheet date and interest was charged at market rate on the overdue amount.