IRIS Accounts Production v25.1.4.42 11292283 Board of Directors 1.1.24 31.12.24 31.12.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh112922832023-12-31112922832024-12-31112922832024-01-012024-12-31112922832022-12-31112922832023-01-012023-12-31112922832023-12-3111292283ns15:EnglandWales2024-01-012024-12-3111292283ns14:PoundSterling2024-01-012024-12-3111292283ns10:Director12024-01-012024-12-3111292283ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3111292283ns10:SmallEntities2024-01-012024-12-3111292283ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3111292283ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3111292283ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3111292283ns10:AbridgedAccounts2024-01-012024-12-3111292283ns10:Director22024-01-012024-12-3111292283ns10:Director32024-01-012024-12-3111292283ns10:RegisteredOffice2024-01-012024-12-3111292283ns5:CurrentFinancialInstruments2024-12-3111292283ns5:CurrentFinancialInstruments2023-12-3111292283ns5:ShareCapital2024-12-3111292283ns5:ShareCapital2023-12-3111292283ns5:RetainedEarningsAccumulatedLosses2024-12-3111292283ns5:RetainedEarningsAccumulatedLosses2023-12-3111292283ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2024-12-3111292283ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-12-31112922831ns10:Director12023-12-31112922831ns10:Director12022-12-31112922831ns10:Director12024-01-012024-12-31112922831ns10:Director12023-01-012023-12-31112922831ns10:Director12024-12-31112922831ns10:Director12023-12-3111292283ns10:Director222023-12-3111292283ns10:Director222022-12-3111292283ns10:Director222024-01-012024-12-3111292283ns10:Director222023-01-012023-12-3111292283ns10:Director222024-12-3111292283ns10:Director222023-12-31112922833ns10:Director32023-12-31112922833ns10:Director32022-12-31112922833ns10:Director32024-01-012024-12-31112922833ns10:Director32023-01-012023-12-31112922833ns10:Director32024-12-31112922833ns10:Director32023-12-31
REGISTERED NUMBER: 11292283 (England and Wales)









SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED (REGISTERED NUMBER: 11292283)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: A Pollard
P Meatyard
S Murphy





REGISTERED OFFICE: Windsor Villas
Lockyer Street
Plymouth
Devon
PL1 2QD





REGISTERED NUMBER: 11292283 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED (REGISTERED NUMBER: 11292283)

ABRIDGED BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 5 336,404 232,857

CURRENT ASSETS
Debtors 6 938,318 908,468
Cash at bank 156,584 275,465
1,094,902 1,183,933
CREDITORS
Amounts falling due within one year 129,960 219,109
NET CURRENT ASSETS 964,942 964,824
TOTAL ASSETS LESS CURRENT LIABILITIES 1,301,346 1,197,681

CAPITAL AND RESERVES
Called up share capital 1,151 1,151
Retained earnings 1,300,195 1,196,530
1,301,346 1,197,681

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:





A Pollard - Director


SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED (REGISTERED NUMBER: 11292283)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Sound Financial Management Holdings 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. 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.

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.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Pension costs and other post-retirement benefits
Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at fair value with changes in fair value recognised in other comprehensive income.

Investments
Investments in shares are measured at fair value with any changes to fair value going through profit or loss, provided that they are publicly traded, or fair value can be measured reliably. Where fair value cannot be measured reliably, then the investment is carried at cost less impairment.

SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED (REGISTERED NUMBER: 11292283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 January 2024 232,857
Additions 49,999
Revaluations 53,548
At 31 December 2024 336,404
NET BOOK VALUE
At 31 December 2024 336,404
At 31 December 2023 232,857

Cost or valuation at 31 December 2024 is represented by:
Totals
£   
Valuation in 2022 (95,974 )
Valuation in 2023 7,280
Valuation in 2024 53,547
Cost 371,551
336,404

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other debtors 122,367 148,651

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024 2023
£    £   
A Pollard
Balance outstanding at start of year 35,239 (35,185 )
Amounts advanced 352,085 228,384
Amounts repaid (169,495 ) (157,960 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 217,829 35,239

P Meatyard
Balance outstanding at start of year 125,496 7,913
Amounts advanced 151,598 213,963
Amounts repaid (132,279 ) (96,380 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 144,815 125,496

SOUND FINANCIAL MANAGEMENT HOLDINGS
LIMITED (REGISTERED NUMBER: 11292283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S Murphy
Balance outstanding at start of year 27,859 (11 )
Amounts advanced 125,763 112,270
Amounts repaid (125,629 ) (84,400 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 27,993 27,859

Interest is charged on these loan amounts at a rate of 2.25% triggered when the loan amount outstanding becomes greater than £10,000.

Overdrawn balances are due to be cleared in total by 30th September 2025.