Registration number:
Thoth Financial Advisory Limited
for the Year Ended 31 March 2024
Thoth Financial Advisory Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Thoth Financial Advisory Limited
Company Information
Directors |
I F M Decitre S Ling A Decitre T W Slater |
Registered office |
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Accountants |
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Thoth Financial Advisory Limited
(Registration number: 13962263)
Statement of Financial Position as at 31 March 2024
Note |
2024 |
2023 |
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Non-current assets |
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Property, plant and equipment |
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- |
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Current assets |
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Receivables |
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|
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Other financial assets |
21,172 |
- |
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Cash at bank and in hand |
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Payables: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
- |
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Net assets |
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Equity |
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Called up share capital |
10 |
70,000 |
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Retained earnings |
334,906 |
112,066 |
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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:
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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
Thoth Financial Advisory Limited
(Registration number: 13962263)
Statement of Financial Position as at 31 March 2024 (continued)
.........................................
Director
Thoth Financial Advisory Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024
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.
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
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Thoth Financial Advisory Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)
Property, plant and equipment |
Office equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2024 |
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Depreciation |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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Other financial assets |
Financial assets at fair value through profit and loss |
Total |
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Current financial assets |
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Cost or valuation |
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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)
Receivables |
2024 |
2023 |
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Trade receivables |
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Other receivables |
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- |
Prepayments |
- |
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Payables |
Payables: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade payables |
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Social security and other taxes |
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Accruals |
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Income tax liability |
75,685 |
26,558 |
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Provisions for liabilities |
Deferred tax |
Total |
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Increase (decrease) in existing provisions |
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At 31 March 2024 |
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Thoth Financial Advisory Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)
Share capital and reserves |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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8 |
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70,000 |
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2 |
- |
- |
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Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.