Taurus Wealth Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12013404 (England and Wales)

Financial Statements for the Year Ended 31st March 2022

for

Taurus Wealth Management Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R A North

S G Watkins

SECRETARY:

Mrs C North

REGISTERED OFFICE:

Sansome Lodge

4 Sansome Walk

Worcester

Worcestershire

WR1 1LH

REGISTERED NUMBER:

12013404 (England and Wales)

ACCOUNTANTS:

The Richards Sandy Partnership

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

FIXED ASSETS

Intangible assets

4

27,500

30,250

Tangible assets

5

4,608

4,341

Investments

6

-

-

32,108

34,591

CURRENT ASSETS

Debtors

1,187

-

Cash at bank and in hand

116,113

131,818

117,300

131,818

CREDITORS

Amounts falling due within one year

83,274

118,732

NET CURRENT ASSETS

34,026

13,086

TOTAL ASSETS LESS CURRENT LIABILITIES

66,134

47,677

PROVISIONS FOR LIABILITIES

770

208

NET ASSETS

65,364

47,469

CAPITAL AND RESERVES

Called up share capital

100

2

Retained earnings

65,264

47,467

65,364

47,469

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 31st March 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 22nd June 2022 and were signed on its behalf by:

R A North - Director

S G Watkins - Director

1.	STATUTORY INFORMATION

Taurus 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, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of thirteen 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

Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Fixtures and Fittings

-

25% Reducing Balance

Computer Equipment

-

33% Reducing Balance

Where a gain or loss arises on the disposal of an asset, it is determined as the difference between the sale proceeds and the carrying value of an asset, and is credited or charged to the profit or loss.

INVESTMENTS IN SUBSIDIARIES

Investments in subsidiary undertakings are recognised at cost.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2021

and 31st March 2022

35,750

AMORTISATION

At 1st April 2021

5,500

Amortisation for year

2,750

At 31st March 2022

8,250

NET BOOK VALUE

At 31st March 2022

27,500

At 31st March 2021

30,250

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2021

4,942

Additions

788

At 31st March 2022

5,730

DEPRECIATION

At 1st April 2021

601

Charge for year

521

At 31st March 2022

1,122

NET BOOK VALUE

At 31st March 2022

4,608

At 31st March 2021

4,341

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

Additions

49

Impairments

(49

)

At 31st March 2022

-

NET BOOK VALUE

At 31st March 2022

-