Company registration number 07117048 (England and Wales)
Booth Financial Management Limited
Unaudited financial statements
For the year ended 31 January 2025
Booth Financial Management Limited
Company information
Director
T H Booth
Company number
07117048
Registered office
115 Sheffield Road
Godley
Hyde
Cheshire
England
SK14 2PJ
Accountants
DJH Bury Limited
The Exchange
5 Bank Street
Bury
BL9 0DN
Booth Financial Management Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
Booth Financial Management Limited
Statement of financial position
As at 31 January 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
787
75
Current assets
Debtors
5
4,273
6,269
Cash at bank and in hand
3,394
10,368
7,667
16,637
Creditors: amounts falling due within one year
6
(4,461)
(12,723)
Net current assets
3,206
3,914
Net assets
3,993
3,989
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
3,893
3,889
Total equity
3,993
3,989
For the financial year ended 31 January 2025 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 of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 21 July 2025
T H Booth
Director
Company registration number 07117048 (England and Wales)
Booth Financial Management Limited
Notes to the financial statements
For the year ended 31 January 2025
- 2 -
1
Accounting policies
Company information
Booth Financial Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 115 Sheffield Road, Godley, Hyde, Cheshire, England, SK14 2PJ.
1.1
Accounting convention
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.
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the director continues to adopt the going concern basis in preparing the financial statements
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover comprises the aggregate of the fair value of the sale of services provided, net of value added tax, rebates and discounts. Turnover is recognized as those services are provided to customers.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% on cost
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognized in the income statement when the change arises.
1.4
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.
Financial assets that are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in the income statement.
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortized cost, being the transaction price less any amounts settled.
Booth Financial Management Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognized in the Income Statement, except to the extent that it relates to items recognized in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax
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 recognized in respect of all timing differences that have originated but not reversed at the statement of financial position 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 recognized 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 recognized 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.
1.6
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
2
Judgements and key sources of estimation uncertainty
In the opinion of the director there are no estimates and assumptions which have a significant risk of causing material adjustment to the carrying amount of assets and liabilities.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
Booth Financial Management Limited
Notes to the financial statements (continued)
For the year ended 31 January 2025
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2024
3,139
Additions
833
Disposals
(2,440)
At 31 January 2025
1,532
Depreciation and impairment
At 1 February 2024
3,064
Depreciation charged in the year
121
Eliminated in respect of disposals
(2,440)
At 31 January 2025
745
Carrying amount
At 31 January 2025
787
At 31 January 2024
75
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,192
6,148
Other debtors
81
121
4,273
6,269
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
814
908
Taxation and social security
2,779
11,065
Other creditors
868
750
4,461
12,723