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REGISTERED NUMBER: 10674590 (England and Wales)












SM THOMPSON WEALTH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

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


SM THOMPSON WEALTH LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr S Thompson





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 10674590 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 343 343
Tangible assets 5 45,604 20,535
45,947 20,878

CURRENT ASSETS
Debtors 6 20,367 28,017
Cash at bank and in hand 4,228 21,043
24,595 49,060
CREDITORS
Amounts falling due within one year 7 22,566 23,510
NET CURRENT ASSETS 2,029 25,550
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,976

46,428

CREDITORS
Amounts falling due after more than one
year

8

(37,641

)

(15,183

)

PROVISIONS FOR LIABILITIES 10 (8,664 ) (3,902 )
NET ASSETS 1,671 27,343

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 12 671 26,343
SHAREHOLDERS' FUNDS 1,671 27,343

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.

SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





Mr S Thompson - Director


SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Sm Thompson Wealth 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 is measured at the fair value of the consideration received or receivable excluding discounts, rebates, value added tax and other sales taxes. The policies adopted for the recognition of turnover are as follows:

Revenue
Revenue represents invoiced sales of services. Revenue is recognised on the earlier receipt of the invoice or the receipt of the funds relating thereto.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 343
NET BOOK VALUE
At 31 March 2024 343
At 31 March 2023 343

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 37,100 5,900 - 7,575 50,575
Additions - - 38,766 - 38,766
At 31 March 2024 37,100 5,900 38,766 7,575 89,341
DEPRECIATION
At 1 April 2023 21,150 4,460 - 4,430 30,040
Charge for year 3,710 720 7,753 1,514 13,697
At 31 March 2024 24,860 5,180 7,753 5,944 43,737
NET BOOK VALUE
At 31 March 2024 12,240 720 31,013 1,631 45,604
At 31 March 2023 15,950 1,440 - 3,145 20,535

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 500 5,500
Section 455 tax 17 17
Prepayments and accrued income 19,850 22,500
20,367 28,017

SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

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
£    £   
Bank loans and overdrafts (see note 9) 8,882 6,915
Trade creditors 555 445
Tax - 10,139
Social security and other taxes 790 2,695
Pension liability 171 418
Shareholders loan 10,500 1,000
Directors' current accounts 78 368
Accrued expenses 1,590 1,530
22,566 23,510

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 9) 37,641 15,183

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 8,882 6,915

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,882 6,915

Amounts falling due between two and five years:
Bank loans - 2-5 years 28,759 8,268

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 8,664 3,902

Deferred
tax
£   
Balance at 1 April 2023 3,902
Provided during year 4,762
Balance at 31 March 2024 8,664

SM THOMPSON WEALTH LIMITED (REGISTERED NUMBER: 10674590)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Retained
earnings
£   

At 1 April 2023 26,343
Deficit for the year (2,628 )
Dividends (23,044 )
At 31 March 2024 671

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Thompson.