Company Registration No. 14896397 (England and Wales)
Northcote Wealth Management Limited
Unaudited accounts
for the period from 26 May 2023 to 31 March 2024
Northcote Wealth Management Limited
Unaudited accounts
Contents
Northcote Wealth Management Limited
Company Information
for the period from 26 May 2023 to 31 March 2024
Company Number
14896397 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
GU1 3AA
UK
Northcote Wealth Management Limited
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
19,757
Creditors: amounts falling due within one year
(44,329)
Net current liabilities
(24,472)
Called up share capital
100
Profit and loss account
(21,730)
Shareholders' funds
(21,630)
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
B J Simpson
Director
Company Registration No. 14896397
Northcote Wealth Management Limited
Notes to the Accounts
for the period from 26 May 2023 to 31 March 2024
Northcote Wealth Management Limited is a private company, limited by shares, registered in England and Wales, registration number 14896397. The registered office is First Floor, 129 High Street, Guildford, GU1 3AA, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
3 Years Straight Line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the director has made the following judgements:
Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
Northcote Wealth Management Limited
Notes to the Accounts
for the period from 26 May 2023 to 31 March 2024
4
Tangible fixed assets
Computer equipment
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
Taxes and social security
169
Loans from directors
35,060
7
Average number of employees
During the period the average number of employees was 1.