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REGISTERED NUMBER: 11102989 (England and Wales)















LAURENT WEALTH MANAGEMENT LIMITED

Unaudited Financial Statements for the Year Ended 31 March 2024






LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)






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


LAURENT WEALTH MANAGEMENT LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: K A Laurent





SECRETARY:





REGISTERED OFFICE: 16 Greenbox
Westonhall Road
Stoke Prior
Bromsgrove
Worcestershire
B60 4AL





REGISTERED NUMBER: 11102989 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2
Tangible assets 5 62,507 51,563
62,507 51,565

CURRENT ASSETS
Debtors 6 59,448 20,273
Cash at bank and in hand 305,420 293,297
364,868 313,570
CREDITORS
Amounts falling due within one year 7 76,375 116,259
NET CURRENT ASSETS 288,493 197,311
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,000

248,876

CREDITORS
Amounts falling due after more than
one year

8

38,148

-
NET ASSETS 312,852 248,876

LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 308,852 244,876
312,852 248,876

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.

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 16 July 2024 and were signed by:





K A Laurent - Director


LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)

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

1. STATUTORY INFORMATION

Laurent 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 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 2019, is being amortised evenly over its estimated useful 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - The period of the lease
Computer equipment - 33% on cost

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.


LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 3 (2023 - 3 ) .

LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 12
AMORTISATION
At 1 April 2023 10
Charge for year 2
At 31 March 2024 12
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 2

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 9,758 63,390 15,451 88,599
Additions 448 58,590 708 59,746
Disposals - (63,390 ) - (63,390 )
At 31 March 2024 10,206 58,590 16,159 84,955
DEPRECIATION
At 1 April 2023 3,404 25,049 8,583 37,036
Charge for year 2,018 14,534 3,650 20,202
Eliminated on disposal - (34,790 ) - (34,790 )
At 31 March 2024 5,422 4,793 12,233 22,448
NET BOOK VALUE
At 31 March 2024 4,784 53,797 3,926 62,507
At 31 March 2023 6,354 38,341 6,868 51,563

The net book value of tangible fixed assets includes £ 53,797 (2023 - £ 38,341 ) in respect of assets held under hire purchase contracts.

LAURENT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11102989)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Trade debtors 12,618 1,849
Amounts owed by group undertakings 28,500 -
Prepayments 18,330 18,424
59,448 20,273

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 9,489 32,438
Trade creditors 281 223
Social security and other taxes 32,520 23,734
Other creditors 715 538
Directors' current accounts 58 1,722
Accruals and deferred income 25,635 50,801
Accrued expenses 7,677 6,803
76,375 116,259

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 38,148 -

9. CONTINGENT LIABILITIES

Commission is sometimes received on an indemnified basis for the arrangement of certain protection policies. Should the policy holder cancel the policy or cease premiums within a specified period of time, some of this indemnified commission can be clawed back by the provider. This period is usually 24 months but in some cases can be up to 48 months. Based on the directors experience and the volume of business conducted in this area, it is estimated any potential claw back could amount to around £1,000.