REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Scrimshaw Wealth Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Scrimshaw Wealth Management Limited |
Scrimshaw Wealth Management Limited (Registered number: 07015604) |
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 |
Scrimshaw Wealth Management Limited |
Company Information |
for the year ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Charterhouse Mews |
London |
EC1M 6BB |
Scrimshaw Wealth Management Limited (Registered number: 07015604) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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. |
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 |
Scrimshaw Wealth Management Limited (Registered number: 07015604) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Scrimshaw Wealth Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
The company earns commission from introducing investments to clients. Commissions is due when the investment is made by the customer. |
The turnover shown in the profit and loss account represents amounts invoiced, excluding any sales tax. |
Tangible fixed assets |
Equipment | - 20% Reducing balance |
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. |
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. |
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. |
Scrimshaw Wealth Management Limited (Registered number: 07015604) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
In the company's financial statements, cash and cash equivalents includes cash on hand and deposits held with banks. |
Trade and other debtors |
Trade and other debtors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method. |
Trade and other creditors |
Trade and other creditors are recognised initially at fair value. Subsequent to initial recognition, they are measured at amortised cost using the effective interest method. |
Going concern |
The financial statements have been prepared on the going concern basis as the directors and other financiers have expressed their willingness to support the business for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
Scrimshaw Wealth Management Limited (Registered number: 07015604) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
6. | CONTINGENCIES |
HMRC have opened an enquiry and raised assessments on company tax returns relating to prior years. The assessments have been appealed and the collection of the tax postponed. It is not possible to predict with certainty the outcome of this enquiry and no provision has been included in these financial statements for potential additional liabilities. The directors, based on their own professional advice, continue to believe that the company has sound arguments to refute the enquiry and that the amount assessed will not be payable. |
7. | RELATED PARTY DISCLOSURES |
As at the balance sheet date, included within creditors is an amount of £3,462 (2023: £2,962), due to Mrs N Brooks, a director of the company. |
As at the balance sheet date, included within creditors is an amount of £7,265 (2023: £2,820), due to Mr M S Scrimshaw, a director of the company. |