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REGISTERED NUMBER: 03261771 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2022

for

Hedley Asset Management Limited

Hedley Asset Management Limited (Registered number: 03261771)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hedley Asset Management Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Mrs L S Scott



SECRETARY: Mrs L S Scott



REGISTERED OFFICE: Williamson House
Swan Square
Haverfordwest
PEMBROKESHIRE
SA61 2AN



REGISTERED NUMBER: 03261771 (England and Wales)



BANKERS: H.S.B.C.
41 High Street
Haverfordwest
Pembrokeshire
SA61 2BU

Hedley Asset Management Limited (Registered number: 03261771)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,500 -
Tangible assets 5 10,600 14,407
Investments 6 82,547 -
103,647 14,407

CURRENT ASSETS
Debtors 7 15,419 15,317
Cash at bank and in hand 204,374 248,581
219,793 263,898
CREDITORS
Amounts falling due within one year 8 71,358 68,609
NET CURRENT ASSETS 148,435 195,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

252,082

209,696

CREDITORS
Amounts falling due after more than one year 9 (32,500 ) (42,500 )

PROVISIONS FOR LIABILITIES (1,932 ) (1,989 )
NET ASSETS 217,650 165,207

CAPITAL AND RESERVES
Called up share capital 40 40
Capital redemption reserve 60 60
Retained earnings 217,550 165,107
SHAREHOLDERS' FUNDS 217,650 165,207

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Hedley Asset Management Limited (Registered number: 03261771)

Balance Sheet - continued
31 March 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 May 2022 and were signed by:





Mrs L S Scott - Director


Hedley Asset Management Limited (Registered number: 03261771)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Hedley Asset 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 represents new commissions which are taken to credit when policies are raised. Renewal commissions are credited when received irrespective of the inception date or period.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of four 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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% straight line basis

Financial instruments
Financial instruments are recorded at fair value.

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 5 (2021 - 4 ) .

Hedley Asset Management Limited (Registered number: 03261771)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 14,000
At 31 March 2022 14,000
AMORTISATION
Charge for year 3,500
At 31 March 2022 3,500
NET BOOK VALUE
At 31 March 2022 10,500

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2021 14,942 100,683 115,625
Additions 1,163 1,030 2,193
At 31 March 2022 16,105 101,713 117,818
DEPRECIATION
At 1 April 2021 9,878 91,340 101,218
Charge for year 934 5,066 6,000
At 31 March 2022 10,812 96,406 107,218
NET BOOK VALUE
At 31 March 2022 5,293 5,307 10,600
At 31 March 2021 5,064 9,343 14,407

6. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.22 31.3.21
£    £   
Bond 82,547 -

Hedley Asset Management Limited (Registered number: 03261771)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 10,648 8,134
Other debtors - 2,931
Prepayments and accrued income 4,771 4,252
15,419 15,317

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 10,000 7,500
Trade creditors 33,134 26,025
Tax 13,932 21,546
Social Security and Other Taxes 3,902 3,226
Other creditors 795 993
Accruals and Deferred Income 6,000 5,724
Directors' current accounts 3,595 3,595
71,358 68,609

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans - 2-5 years 32,500 32,500
Bank loans more 5 yr by instal - 10,000
32,500 42,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 10,000

Hedley Asset Management Limited (Registered number: 03261771)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
M P Shaw
Balance outstanding at start of year - (80 )
Amounts advanced - 80
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mrs L S Scott
Balance outstanding at start of year (3,595 ) (4,425 )
Amounts advanced - 1,030
Amounts repaid - (200 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,595 ) (3,595 )

11. RELATED PARTY DISCLOSURES

The following related party transactions took place during the period:

Linda Scott Limited

A company controlled by Mrs L.S. Scott (Director)

Included in commissions payable is £116,681 paid to the above company (2020: £110,410)

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs L S Scott.