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REGISTERED NUMBER: 06286375 (England and Wales)











Financial Statements

for the Year Ended 31 August 2024

for

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SIGNET FINANCIAL SERVICES (LONDON)
LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr S Gordon





SECRETARY: Mrs C M Gordon





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 06286375 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,888 5,498
3,888 5,498

CURRENT ASSETS
Debtors 6 98,584 130,937
Cash at bank 21,823 2,170
120,407 133,107
CREDITORS
Amounts falling due within one year 7 86,163 86,569
NET CURRENT ASSETS 34,244 46,538
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,132

52,036

CREDITORS
Amounts falling due after more than one year 8 (8,095 ) (18,097 )

PROVISIONS FOR LIABILITIES 11 (608 ) (1,496 )
NET ASSETS 29,429 32,443

CAPITAL AND RESERVES
Called up share capital 12 10,402 10,402
Fair value reserve - 1,575
Retained earnings 19,027 20,466
SHAREHOLDERS' FUNDS 29,429 32,443

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

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

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)

Balance Sheet - continued
31 August 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 14 February 2025 and were signed by:





Mr S Gordon - Director


SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)

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

1. STATUTORY INFORMATION

Signet Financial Services (London) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of eight 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 - 20% on Cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on Cost

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.

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.

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.

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)

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

2. ACCOUNTING POLICIES - continued

Going concern
The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 474,492
AMORTISATION
At 1 September 2023
and 31 August 2024 474,492
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 71,222 4,563 20,154 95,939
Additions - - 670 670
At 31 August 2024 71,222 4,563 20,824 96,609
DEPRECIATION
At 1 September 2023 71,222 1,809 17,410 90,441
Charge for year - 551 1,729 2,280
At 31 August 2024 71,222 2,360 19,139 92,721
NET BOOK VALUE
At 31 August 2024 - 2,203 1,685 3,888
At 31 August 2023 - 2,754 2,744 5,498

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 1,375 1,096
Prepayments and accrued income 97,209 129,841
98,584 130,937

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts (see note 9) 10,000 21,978
Trade creditors 5,129 8,433
Tax 64,454 53,596
Social security and other taxes 1,922 1,017
Other creditors 2,108 345
Accruals and deferred income 2,550 1,200
86,163 86,569

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans (see note 9) 8,095 18,097

9. LOANS

An analysis of the maturity of loans is given below:

31.8.24 31.8.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 11,978
Bank loans 10,000 10,000
10,000 21,978

Amounts falling due between one and two years:
Bank loans - 1-2 years 8,095 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 8,097

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank overdraft - 11,978

Bank loans and overdrafts is a debenture secured by a fixed and floating charge over the assets of business.

11. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 608 1,496

SIGNET FINANCIAL SERVICES (LONDON)
LIMITED (REGISTERED NUMBER: 06286375)

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

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 1,496
Provided during year (888 )
Balance at 31 August 2024 608

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
5,000 A Ordinary £1 5,000 5,000
5,000 B Ordinary £1 5,000 5,000
100 D Ordinary £1 100 100
100 E Ordinary £1 100 100
100 F Ordinary £1 100 100
100 G Ordinary £1 100 100
1 H Ordinary £1 1 1
1 I Ordinary £1 1 1
10,402 10,402

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Gordon.