Norton Michael Financial Management Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09126241 (England and Wales)

Financial Statements for the Year Ended 31 August 2017

for

Norton Michael Financial Management

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Crampton

REGISTERED OFFICE:

18 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

REGISTERED NUMBER:

09126241 (England and Wales)

ACCOUNTANTS:

A A Shah Limited

Chartered Certified Accountants

34 Andover Close

Luton

LU4 9EQ

FIXED ASSETS

Tangible assets

4

698

1,101

CURRENT ASSETS

Debtors

5

1,885

6,197

Cash at bank and in hand

5,488

2,738

7,373

8,935

CREDITORS

Amounts falling due within one year

6

7,427

9,330

NET CURRENT LIABILITIES

(54

)

(395

)

TOTAL ASSETS LESS CURRENT LIABILITIES

644

706

PROVISIONS FOR LIABILITIES

137

220

NET ASSETS

507

486

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

505

484

SHAREHOLDERS' FUNDS

507

486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 6 December 2017 and were signed by:

M Crampton - Director

1.	STATUTORY INFORMATION

Norton Michael Financial 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

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.

The assets of the scheme are held separately from those of the company in an independently administered fund.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2016

200

2,042

2,242

Additions

150

278

428

At 31 August 2017

350

2,320

2,670

DEPRECIATION

At 1 September 2016

88

1,053

1,141

Charge for year

65

766

831

At 31 August 2017

153

1,819

1,972

NET BOOK VALUE

At 31 August 2017

197

501

698

At 31 August 2016

112

989

1,101

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

-

6,125

Directors' current accounts

1,193

-

Prepayments

692

72

1,885

6,197

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade creditors

1,785

500

Tax

3,398

5,312

Social security and other taxes

279

-

Directors' current accounts

-

2,211

Accrued expenses

1,965

1,307

7,427

9,330

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2017 and

31 August 2016:

31.8.17

31.8.16

£

£

M Crampton

Balance outstanding at start of year

2,211

(889

)

Amounts advanced

(4,008

)

-

Amounts repaid

603

3,100

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,194

)

2,211

The overdrawn director's current account will be repaid within 9 months of the year end.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £7,000 (2016 - £7,000) were paid to the director .

9.	ULTIMATE CONTROLLING PARTY

The controlling party is M Crampton.