Registration number:
Steven Townsend Wealth Management Ltd
for the Year Ended 31 March 2025
Steven Townsend Wealth Management Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Steven Townsend Wealth Management Ltd
Company Information
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Directors |
A Townsend S A Townsend |
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Registered office |
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Accountants |
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Steven Townsend Wealth Management Ltd
(Registration number: 11445469)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
66,013 |
43,277 |
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Shareholders' funds |
66,113 |
43,377 |
For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Steven Townsend Wealth Management Ltd
(Registration number: 11445469)
Balance Sheet as at 31 March 2025 (continued)
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Steven Townsend Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Steven Townsend Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Accounting policies (continued) |
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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 cost
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted
prospectively if appropriate, or if there is an indication of a significant change since the last reporting
date.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
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.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,
over their expected useful economic life as follows:
Goodwill over 10 Years on cost
Steven Townsend Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 April 2024 |
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At 31 March 2025 |
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Amortisation |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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Tangible assets |
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Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
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At 31 March 2025 |
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Depreciation |
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At 1 April 2024 |
- |
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Charge for the year |
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At 31 March 2025 |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
- |
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Steven Townsend Wealth Management Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)
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Debtors |
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Current |
2025 |
2024 |
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Prepayments and accrued income |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2025 |
2024 |
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Due after one year |
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Loans and borrowings |
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