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REGISTERED NUMBER: 04206455 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2022

FOR

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)






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


INVESTMENT AND TAX ADVISORY SERVICES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: D R Weldon





SECRETARY:





REGISTERED OFFICE: 30a South Street
Dorchester
DT1 1BY





REGISTERED NUMBER: 04206455 (England and Wales)





ACCOUNTANTS: Elson Geaves Accountants
Chartered Certified Accountants
12 Haviland Road
Ferndown Industrial Estate
Wimborne
Dorset
BH21 7RG

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 60,267 -
Tangible assets 5 18,965 25,153
79,232 25,153

CURRENT ASSETS
Debtors 6 98,500 594,855
Cash at bank and in hand 132,580 41,193
231,080 636,048
CREDITORS
Amounts falling due within one year 7 126,225 512,683
NET CURRENT ASSETS 104,855 123,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

184,087

148,518

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 8 84,087 48,518
SHAREHOLDERS' FUNDS 184,087 148,518

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 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.

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2022 and were signed by:





D R Weldon - Director


INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Investment And Tax Advisory Services 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 2022, is being amortised evenly over its estimated useful life of ten 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.
Computer Software - 20% on cost
Office Equipment - 10% on cost
Computer equipment - 10% 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.


INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued
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 12 (2021 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 61,812
At 31 March 2022 61,812
AMORTISATION
Charge for year 1,545
At 31 March 2022 1,545
NET BOOK VALUE
At 31 March 2022 60,267

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2021 45,552
Additions 1,134
At 31 March 2022 46,686
DEPRECIATION
At 1 April 2021 20,399
Charge for year 7,322
At 31 March 2022 27,721
NET BOOK VALUE
At 31 March 2022 18,965
At 31 March 2021 25,153

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings - 501,983
Other debtors 1,259 1,801
Prepayments and accrued income 97,241 91,071
98,500 594,855

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 26,570 32,568
Amounts owed to group undertakings - 468,404
Tax 13,061 -
Social security and other taxes 7,935 -
Other creditors 59,762 151
Accrued expenses 18,897 11,560
126,225 512,683

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

8. RESERVES
Retained
earnings
£   

At 1 April 2021 48,518
Profit for the year 110,569
Dividends (75,000 )
At 31 March 2022 84,087

9. RELATED PARTY DISCLOSURES

Summary of transactions with parent

WAY Group Limited (parent company until 12/4/2021)

The companies share overhead costs which are recharged as appropriate. At the balance sheet date the amount owed from WAY Group Limited was £Nil (2021 - £81,983).

DNPS Holdings Ltd (parent company from 12/4/2021)

The companies share overhead costs which are recharged as appropriate. At the balance sheet date the amount owed from DNPS Holdings Ltd was £nil.

Summary of transactions with associates

WAY Investment Services Limited (fellow subsidiary until 12/4/2021)

The companies share overhead costs which are recharged as appropriate. At the balance sheet date the amount due to WAY Investment Services Limited was £Nil (2021- £81,254).

WAY Tax and Trustee Advisory Services Limited (fellow subsidiary until 12/4/21)

The companies share overhead costs which are recharged as appropriate. At the balance sheet date the amount owed from WAY Tax and Trustee Services Limited was £Nil (2021 - £Nil).

Wilcox Young Personal Wealth Management Limited

The companies share overhead costs which are recharged as appropriate. There have been no transactions with this company during the year. At the balance sheet date the amount due to Wilcox Young Personal Wealth Management Limited was £Nil (2021 - £Nil).

Formal Inter Group Loans

At the balance sheet date the amount due from Formal Inter Group Loans was £Nil (2021: £420,000) and the amounts due was £Nil (2021:£387,150)..

INVESTMENT AND TAX ADVISORY SERVICES
LIMITED (REGISTERED NUMBER: 04206455)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

10. ULTIMATE CONTROLLING PARTY

Parent and ultimate parent undertaking

Until the 12 April 2021 the Company's immediate parent was the WAY Group Limited a company incorporated in England and Wales.

The most senior parent entity producing publicly available financial statements is WAY Group Limited. These are available upon request from the Company Secretary at the Company's registered office.

However 100% of the company shares were purchased by DNPS Holdings Limited after the year end on 12 April 2021 and therefore became the company's ultimate parent undertaking.