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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

ELMS WEALTH MANAGEMENT LIMITED

ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELMS WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
For The Year Ended 30 November 2024







DIRECTOR: Mr R J Fellows





REGISTERED OFFICE: Unit 1, St Stephens Court
15 - 17 St Stephens Road
Bournemouth
Dorset
BH2 6LA





REGISTERED NUMBER: 09289697 (England and Wales)






ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,306 4,408
3,306 4,408

CURRENT ASSETS
Debtors 6 248,797 239,640
Cash at bank 25,062 48,300
273,859 287,940
CREDITORS
Amounts falling due within one year 7 254,607 255,676
NET CURRENT ASSETS 19,252 32,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,558

36,672

CREDITORS
Amounts falling due after more than one year 8 (15,715 ) (19,275 )

PROVISIONS FOR LIABILITIES (826 ) (1,102 )
NET ASSETS 6,017 16,295

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 5,917 16,195
SHAREHOLDERS' FUNDS 6,017 16,295

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 June 2025 and were signed by:





Mr R J Fellows - Director


ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 November 2024

1. STATUTORY INFORMATION

Elms 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.

Goodwill
Goodwill has been written off evenly over its estimated economic life of five 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.
Office equipment - 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 21,100
AMORTISATION
At 1 December 2023
and 30 November 2024 21,100
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 December 2023
and 30 November 2024 12,846
DEPRECIATION
At 1 December 2023 8,438
Charge for year 1,102
At 30 November 2024 9,540
NET BOOK VALUE
At 30 November 2024 3,306
At 30 November 2023 4,408

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by associates 172,580 174,410
Other debtors 76,217 65,230
248,797 239,640

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,327 3,239
Taxation and social security 21,684 22,847
Other creditors 229,596 229,590
254,607 255,676

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 15,715 19,275

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due in more than 5 years 1,543 5,477

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

The company had total commitments at the balance sheet date of £20,524.

ELMS WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 09289697)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 November 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr R J Fellows
Balance outstanding at start of year 49,003 49,351
Amounts advanced 935 -
Amounts repaid - (348 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,938 49,003

Interest has been charged on the loan at 2.25%pa.