REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2022 |
FOR |
INVESTMENT AND TAX ADVISORY SERVICES |
LIMITED |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Computer Software | - |
Office Equipment | - |
Computer equipment | - |
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 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
At 31 March 2022 |
AMORTISATION |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
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 |
Additions |
At 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accrued expenses |
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 |
Profit for the year |
Dividends | ( |
) |
At 31 March 2022 |
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. |