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REGISTERED NUMBER: 11159103 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2024

FOR

DOWNING WEALTH MANAGEMENT LTD

DOWNING WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11159103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DOWNING WEALTH MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2024







DIRECTOR: J R Butler





REGISTERED OFFICE: 10 Headley Gardens Great Shelford
Cambridge
Cambridgeshire
CB22 5JZ





BUSINESS ADDRESS: 10 Headley Gardens
Great Shelford
Cambridge
Cambridgeshire
CB22 5JZ





REGISTERED NUMBER: 11159103 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

DOWNING WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11159103)

BALANCE SHEET
30 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 1 703

CURRENT ASSETS
Cash at bank - 1,407

CREDITORS
Amounts falling due within one year 6 (11,140 ) (17,646 )
NET CURRENT LIABILITIES (11,140 ) (16,239 )
TOTAL ASSETS LESS CURRENT LIABILITIES (11,139 ) (15,536 )

CAPITAL AND RESERVES
Called up share capital 7 2 1
Retained earnings (11,141 ) (15,537 )
SHAREHOLDERS' FUNDS (11,139 ) (15,536 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2025 and were signed by:





J R Butler - Director


DOWNING WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11159103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2024

1. STATUTORY INFORMATION

Downing Wealth Management Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

At the balance sheet date current liabilities exceeded current assets by £15,536 (2022: £6,344). The financial statements have been prepared on a going concern basis as the company continues to receive the support of the director where required to ensure it meets all liabilities as they fall due.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding Value Added Tax..

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Financial instruments
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

DOWNING WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 11159103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 March 2023
and 30 March 2024 1,904
DEPRECIATION
At 31 March 2023 1,201
Charge for year 702
At 30 March 2024 1,903
NET BOOK VALUE
At 30 March 2024 1
At 30 March 2023 703

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 140 140
Other creditors 11,000 17,506
11,140 17,646

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 1

1 Ordinary share of £1 was issued during the year for cash of £ 1 .

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 March 2024 and 30 March 2023:

2024 2023
£    £   
J R Butler
Balance outstanding at start of year (16,506 ) (8,242 )
Amounts advanced - 29,299
Amounts repaid - (37,563 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (16,506 )