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REGISTERED NUMBER: SC171255 (Scotland)















Unaudited Financial Statements for the Year Ended 31st March 2024

for

Professional Money Management Ltd.

Professional Money Management Ltd. (Registered number: SC171255)

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










Page

Company Information 1

Report of the Accountants 2

Balance Sheet 3

Notes to the Financial Statements 4


Professional Money Management Ltd.

Company Information
for the Year Ended 31st March 2024







DIRECTOR: Mr P M Marshall





REGISTERED OFFICE: 188 Lanark Road West
Currie
Midlothian
EH14 5NX





REGISTERED NUMBER: SC171255 (Scotland)





ACCOUNTANTS: McLaughlin Crolla LLP
77/2 Hanover Street
Edinburgh
EH2 1EE

Professional Money Management Ltd.

Report of the Accountants to the Director of
Professional Money Management Ltd.


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st March 2024 set out on pages four to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






McLaughlin Crolla LLP
77/2 Hanover Street
Edinburgh
EH2 1EE


3rd August 2024

Professional Money Management Ltd. (Registered number: SC171255)

Balance Sheet
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 21,000 57,000
Tangible assets 5 33,309 49,623
54,309 106,623

CURRENT ASSETS
Debtors 6 69,250 22,584
Cash at bank 459,994 499,970
529,244 522,554
CREDITORS
Amounts falling due within one year 7 302,298 297,874
NET CURRENT ASSETS 226,946 224,680
TOTAL ASSETS LESS CURRENT LIABILITIES 281,255 331,303

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 281,155 331,203
SHAREHOLDERS' FUNDS 281,255 331,303

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 3rd August 2024 and were signed by:





Mr P M Marshall - Director


Professional Money Management Ltd. (Registered number: SC171255)

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


1. STATUTORY INFORMATION

Professional Money Management Ltd. is a private company, limited by shares , registered in Scotland. 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 2014, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties.

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
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 2 (2023 - 2 ) .

Professional Money Management Ltd. (Registered number: SC171255)

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


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1st April 2023
and 31st March 2024 360,000
Amortisation
At 1st April 2023 303,000
Charge for year 36,000
At 31st March 2024 339,000
Net book value
At 31st March 2024 21,000
At 31st March 2023 57,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
Cost
At 1st April 2023
and 31st March 2024 67,765
Depreciation
At 1st April 2023 18,142
Charge for year 16,314
At 31st March 2024 34,456
Net book value
At 31st March 2024 33,309
At 31st March 2023 49,623

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 50,000 -
Prepayments 19,250 22,584
69,250 22,584

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 17,686 27,150
Social security and other taxes (8,888 ) -
Directors' current accounts 12,800 1,800
Accrued expenses 280,700 268,924
302,298 297,874

Professional Money Management Ltd. (Registered number: SC171255)

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


8. RELATED PARTY DISCLOSURES

Included within creditors at the year end is a balance owing to Mr P Marshall of £12,800 (2023: £1,800).