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REGISTERED NUMBER: 03488897 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED

IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED (REGISTERED NUMBER: 03488897)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTOR: N J Stewart





REGISTERED OFFICE: 13-19 Derby Road
Nottinghamshire
NG1 5AA





REGISTERED NUMBER: 03488897 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED (REGISTERED NUMBER: 03488897)

BALANCE SHEET
31ST JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,224 107,971

CURRENT ASSETS
Debtors 5 1,483,191 1,844,312
Cash at bank and in hand 345,294 240,166
1,828,485 2,084,478
CREDITORS
Amounts falling due within one year 6 368,716 193,186
NET CURRENT ASSETS 1,459,769 1,891,292
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,596,993

1,999,263

CREDITORS
Amounts falling due after more than one
year

7

(68,942

)

(52,477

)

PROVISIONS FOR LIABILITIES (13,666 ) (13,648 )
NET ASSETS 1,514,385 1,933,138

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,514,285 1,933,038
SHAREHOLDERS' FUNDS 1,514,385 1,933,138

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd October 2024 and were signed by:



N J Stewart - Director


IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED (REGISTERED NUMBER: 03488897)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024


1. STATUTORY INFORMATION

In Focus Asset Management And Tax Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Long leasehold - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED (REGISTERED NUMBER: 03488897)

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


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st February 2023 33,944 32,913 110,218 86,213 263,288
Additions - 1,219 130,000 5,941 137,160
Disposals - - (110,218 ) - (110,218 )
At 31st January 2024 33,944 34,132 130,000 92,154 290,230
DEPRECIATION
At 1st February 2023 23,469 27,650 31,690 72,508 155,317
Charge for year 3,395 1,526 16,508 7,950 29,379
Eliminated on disposal - - (31,690 ) - (31,690 )
At 31st January 2024 26,864 29,176 16,508 80,458 153,006
NET BOOK VALUE
At 31st January 2024 7,080 4,956 113,492 11,696 137,224
At 31st January 2023 10,475 5,263 78,528 13,705 107,971

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors - 155,822
Amounts owed by group undertakings 1,368,352 1,552,779
Other debtors 114,839 135,711
1,483,191 1,844,312

IN FOCUS ASSET MANAGEMENT AND TAX
SOLUTIONS LIMITED (REGISTERED NUMBER: 03488897)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 24,175 15,608
Taxation and social security 92,175 130,805
Other creditors 252,366 46,773
368,716 193,186

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 68,942 52,477

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary £1 100 100