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REGISTERED NUMBER: 02155750 (England and Wales)















Unaudited Financial Statements

for the Period 1 September 2023 to 31 March 2024

for

Skelton Financial Services Limited

Skelton Financial Services Limited (Registered number: 02155750)






Contents of the Financial Statements
for the Period 1 September 2023 to 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Skelton Financial Services Limited

Company Information
for the Period 1 September 2023 to 31 March 2024







DIRECTOR: Mr A J Burns





REGISTERED OFFICE: 31 High Street
Haverhill
Suffolk
CB9 8AD





REGISTERED NUMBER: 02155750 (England and Wales)





ACCOUNTANTS: Thickbroom Coventry Limited
Chartered Accountants
147a High Street
Waltham Cross
Hertfordshire
EN8 7AP

Skelton Financial Services Limited (Registered number: 02155750)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 37,500
Tangible assets 5 - 8,211
Investments 6 - 591
- 46,302

CURRENT ASSETS
Debtors 7 7,171 30,336
Cash at bank 64,179 48,905
71,350 79,241
CREDITORS
Amounts falling due within one year 8 70,350 47,621
NET CURRENT ASSETS 1,000 31,620
TOTAL ASSETS LESS CURRENT LIABILITIES 1,000 77,922

PROVISIONS FOR LIABILITIES - 1,600
NET ASSETS 1,000 76,322

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings - 75,322
SHAREHOLDERS' FUNDS 1,000 76,322

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 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 23 November 2024 and were signed by:





Mr A J Burns - Director


Skelton Financial Services Limited (Registered number: 02155750)

Notes to the Financial Statements
for the Period 1 September 2023 to 31 March 2024

1. STATUTORY INFORMATION

Skelton Financial Services 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.

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 2019, is being amortised evenly over its estimated useful life of five 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.
Improvements to property - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023 89,791
Disposals (89,791 )
At 31 March 2024 -
AMORTISATION
At 1 September 2023 52,291
Charge for period 37,500
Eliminated on disposal (89,791 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 August 2023 37,500

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 September 2023 16,790 29,490 46,280
Disposals (16,790 ) (29,490 ) (46,280 )
At 31 March 2024 - - -
DEPRECIATION
At 1 September 2023 16,522 21,547 38,069
Charge for period 268 7,943 8,211
Eliminated on disposal (16,790 ) (29,490 ) (46,280 )
At 31 March 2024 - - -
NET BOOK VALUE
At 31 March 2024 - - -
At 31 August 2023 268 7,943 8,211

Skelton Financial Services Limited (Registered number: 02155750)

Notes to the Financial Statements - continued
for the Period 1 September 2023 to 31 March 2024

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£    £   
Financial assets at cost less impairment 591 591
Financial assets disposal (591 ) -
- 591

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 30,336
Other debtors 7,171 -
7,171 30,336

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 67,830 43,280
Other creditors 2,520 4,341
70,350 47,621

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other debtors includes £7,171 of directors loans, that were fully repaid 7 November 2024.