Thoth Financial Advisory Limited 13962263 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is research and analysis of equities and bonds. Digita Accounts Production Advanced 6.30.9574.0 true true 13962263 2023-04-01 2024-03-31 13962263 2024-03-31 13962263 bus:OrdinaryShareClass1 2024-03-31 13962263 bus:OrdinaryShareClass2 2024-03-31 13962263 core:CurrentFinancialInstruments 2024-03-31 13962263 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13962263 core:FurnitureFittingsToolsEquipment 2024-03-31 13962263 core:DeferredTaxation 2024-03-31 13962263 bus:SmallEntities 2023-04-01 2024-03-31 13962263 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13962263 bus:FilletedAccounts 2023-04-01 2024-03-31 13962263 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13962263 bus:RegisteredOffice 2023-04-01 2024-03-31 13962263 bus:Director1 2023-04-01 2024-03-31 13962263 bus:Director2 2023-04-01 2024-03-31 13962263 bus:Director3 2023-04-01 2024-03-31 13962263 bus:Director4 2023-04-01 2024-03-31 13962263 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 13962263 bus:OrdinaryShareClass2 2023-04-01 2024-03-31 13962263 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13962263 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 13962263 core:PlantMachinery 2023-04-01 2024-03-31 13962263 core:DeferredTaxation 2023-04-01 2024-03-31 13962263 countries:EnglandWales 2023-04-01 2024-03-31 13962263 2022-04-01 2023-03-31 13962263 2023-03-31 13962263 bus:OrdinaryShareClass1 2023-03-31 13962263 bus:OrdinaryShareClass2 2023-03-31 13962263 core:CurrentFinancialInstruments 2023-03-31 13962263 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13962263 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13962263

Thoth Financial Advisory Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Thoth Financial Advisory Limited

Contents

Company Information

1

Statement of Financial Position

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Thoth Financial Advisory Limited

Company Information

Directors

I F M Decitre

S Ling

A Decitre

T W Slater

Registered office

Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

Accountants

Shaw Gibbs Limited
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Thoth Financial Advisory Limited

(Registration number: 13962263)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Non-current assets

 

Property, plant and equipment

4

1,944

-

Current assets

 

Receivables

6

109,033

176,659

Other financial assets

5

21,172

-

Cash at bank and in hand

 

350,596

82,445

 

480,801

259,104

Payables: Amounts falling due within one year

7

(146,929)

(77,038)

Net current assets

 

333,872

182,066

Total assets less current liabilities

 

335,816

182,066

Provisions for liabilities

(900)

-

Net assets

 

334,916

182,066

Equity

 

Called up share capital

9

10

70,000

Retained earnings

334,906

112,066

Shareholders' funds

 

334,916

182,066

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

The financial statements of Thoth Financial Advisory Limited were approved and authorised for issue by the Board on 21 October 2024 and signed on its behalf by:
 

 

Thoth Financial Advisory Limited

(Registration number: 13962263)
Statement of Financial Position as at 31 March 2024 (continued)

.........................................

A Decitre
Director

 

Thoth Financial Advisory Limited

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

1

General information

Thoth Financial Advisory Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Thoth Financial Advisory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Property, plant and equipment

Property, plant and equipment are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Receivables are amounts due from customers for services performed in the ordinary course of business.

Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Thoth Financial Advisory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Thoth Financial Advisory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

4

Property, plant and equipment

Office equipment
 £

Total
£

Cost or valuation

Additions

2,061

2,061

At 31 March 2024

2,061

2,061

Depreciation

Charge for the year

117

117

At 31 March 2024

117

117

Carrying amount

At 31 March 2024

1,944

1,944

5

Other financial assets

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

Fair value adjustments

1,656

1,656

Additions

19,516

19,516

At 31 March 2024

21,172

21,172

 

Thoth Financial Advisory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

6

Receivables

2024
£

2023
£

Trade receivables

108,697

176,355

Other receivables

336

-

Prepayments

-

304

109,033

176,659

7

Payables

Payables: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

65,928

44,922

Trade payables

1,734

2,126

Social security and other taxes

2,207

1,772

Accruals

1,375

1,660

Income tax liability

75,685

26,558

146,929

77,038

8

Provisions for liabilities

Deferred tax
£

Total
£

Increase (decrease) in existing provisions

900

900

At 31 March 2024

900

900

 

Thoth Financial Advisory Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

9

Share capital and reserves

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

8

8

70,000

70,000

Ordinary A shares of £1 (2023 - £0) each

2

2

-

-

10

10

70,000

70,000

Reserves

The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.