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REGISTERED NUMBER: 07315244 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Manikam Wealth Management Limited

Manikam Wealth Management Limited (Registered number: 07315244)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Manikam Wealth Management Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr R A Manikam





REGISTERED OFFICE: 1 Sopwith Crescent
Wickford
Essex
SS11 8YU





REGISTERED NUMBER: 07315244 (England and Wales)






Manikam Wealth Management Limited (Registered number: 07315244)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 478,573 622,224
Tangible assets 5 33,804 43,246
512,377 665,470

CURRENT ASSETS
Debtors 6 28,357 23,247
Cash at bank 132,609 103,892
160,966 127,139
CREDITORS
Amounts falling due within one year 7 229,336 209,670
NET CURRENT LIABILITIES (68,370 ) (82,531 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

444,007

582,939

CREDITORS
Amounts falling due after more than
one year

8

(106,964

)

(236,637

)

PROVISIONS FOR LIABILITIES (14,000 ) (14,000 )
NET ASSETS 323,043 332,302

CAPITAL AND RESERVES
Called up share capital 201 201
Retained earnings 9 322,842 332,101
323,043 332,302

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

Manikam Wealth Management Limited (Registered number: 07315244)

Balance Sheet - continued
31 July 2024


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 15 January 2025 and were signed by:





Mr R A Manikam - Director


Manikam Wealth Management Limited (Registered number: 07315244)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Manikam Wealth Management 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 2013, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery etc - 25% on reducing balance

Taxation
Taxation for the year 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 balance sheet date.


Manikam Wealth Management Limited (Registered number: 07315244)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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 year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 1,436,506
AMORTISATION
At 1 August 2023 814,282
Charge for year 143,651
At 31 July 2024 957,933
NET BOOK VALUE
At 31 July 2024 478,573
At 31 July 2023 622,224

Manikam Wealth Management Limited (Registered number: 07315244)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 114,030
Additions 1,776
At 31 July 2024 115,806
DEPRECIATION
At 1 August 2023 70,784
Charge for year 11,218
At 31 July 2024 82,002
NET BOOK VALUE
At 31 July 2024 33,804
At 31 July 2023 43,246

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 17,918 23,247
Other debtors 10,439 -
28,357 23,247

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 133,237 129,468
Taxation and social security 87,269 70,275
Other creditors 8,830 9,927
229,336 209,670

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans 106,964 236,637

Manikam Wealth Management Limited (Registered number: 07315244)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.7.24 31.7.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 32,257

9. RESERVES
Retained
earnings
£   

At 1 August 2023 332,101
Profit for the year 110,741
Dividends (120,000 )
At 31 July 2024 322,842