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REGISTERED NUMBER: 11806827 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MOMENTUM FINANCIAL SERVICES LTD

MOMENTUM FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11806827)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MOMENTUM FINANCIAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Dickinson
D J Tasker





REGISTERED OFFICE: 9 Collet Road
Kemsing
Kent
TN15 6SH





REGISTERED NUMBER: 11806827 (England and Wales)





ACCOUNTANTS: Blue Rocket Accounting
Accountants and Tax Advisers
8 Twisleton Court
Priory Hill
Dartford
Kent
DA1 2EN

MOMENTUM FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11806827)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,522 4,931

CURRENT ASSETS
Debtors 5 8,646 18,230
Cash at bank 66,183 35,721
74,829 53,951
CREDITORS
Amounts falling due within one year 6 (33,320 ) (29,191 )
NET CURRENT ASSETS 41,509 24,760
TOTAL ASSETS LESS CURRENT
LIABILITIES

46,031

29,691

CREDITORS
Amounts falling due after more than one
year

7

(43,393

)

(29,654

)
NET ASSETS 2,638 37

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 2,618 17
SHAREHOLDERS' FUNDS 2,638 37

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 directors acknowledge their 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 Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:



S Dickinson - Director


MOMENTUM FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11806827)

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

1. STATUTORY INFORMATION

Momentum Financial Services 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 20% 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

MOMENTUM FINANCIAL SERVICES LTD (REGISTERED NUMBER: 11806827)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,130 1,174 3,623 6,927
Additions 229 - 759 988
At 31 March 2024 2,359 1,174 4,382 7,915
DEPRECIATION
At 1 April 2023 774 97 1,125 1,996
Charge for year 471 235 691 1,397
At 31 March 2024 1,245 332 1,816 3,393
NET BOOK VALUE
At 31 March 2024 1,114 842 2,566 4,522
At 31 March 2023 1,356 1,077 2,498 4,931

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 2,144 898
Other debtors 6,502 17,332
8,646 18,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,057 8,633
Trade creditors 678 2,131
Taxation and social security 17,241 10,317
Other creditors 9,344 8,110
33,320 29,191

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 29,036 29,654
Other creditors 14,357 -
43,393 29,654

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, a director owed the company £5,794 (2023 £NIL).