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REGISTERED NUMBER: 11209434 (England and Wales)












Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Wedge Asset Management Limited

Wedge Asset Management Limited (Registered number: 11209434)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Wedge Asset Management Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: P Wedge





REGISTERED OFFICE: Haybarn
Dye House Lane
Thursley
Surrey
GU8 6QN





REGISTERED NUMBER: 11209434 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Wedge Asset Management Limited (Registered number: 11209434)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,970 3,960

CURRENT ASSETS
Debtors 5 27,337 37,005
Cash at bank 70,148 44,431
97,485 81,436
CREDITORS
Amounts falling due within one year 6 51,946 35,607
NET CURRENT ASSETS 45,539 45,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,509

49,789

PROVISIONS FOR LIABILITIES 7 564 752
NET ASSETS 47,945 49,037

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 47,845 48,937
SHAREHOLDERS' FUNDS 47,945 49,037

Wedge Asset Management Limited (Registered number: 11209434)

Balance Sheet - continued
28 February 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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 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 20 September 2023 and were signed by:





P Wedge - Director


Wedge Asset Management Limited (Registered number: 11209434)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Wedge 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 is measured at the fair value of consideration received or receivable, excluding discounts, rebates 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.
Plant and machinery etc - 25% reducing balance basis

Taxation
Taxation for the year comprises current 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

Wedge Asset Management Limited (Registered number: 11209434)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 March 2022
and 28 February 2023 5,280
DEPRECIATION
At 1 March 2022 1,320
Charge for year 990
At 28 February 2023 2,310
NET BOOK VALUE
At 28 February 2023 2,970
At 28 February 2022 3,960

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 4,349 4,648
Wedge Property Portfolio Ltd 2,988 11,639
Prepayments - 718
7,337 17,005

Amounts falling due after more than one year:
Loans 20,000 20,000

Aggregate amounts 27,337 37,005

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax - 18
Directors' current accounts 49,146 32,715
Accrued expenses 2,800 2,874
51,946 35,607

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 564 752

Wedge Asset Management Limited (Registered number: 11209434)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 March 2022 752
Accelerated capital allowances (188 )
Balance at 28 February 2023 564

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
51 Ordinary £1 51 51
49 Ordinary 'A' £1 49 49
100 100

The Ordinary and Ordinary 'A' shares rank pari passu in all respects.

9. RELATED PARTY DISCLOSURES

Mr P Wedge
Director

During the period under review the director incurred expenses on behalf of the company amounting to £16,461 (2022 - £9,051). The company also earned fees amounting to £21,600 (2022 - £22,000) in relation to the management of properties owned personally by the director.

Wedge Property Portfolio Limited
Mr P Wedge is a director

During the period under review Wedge Property Portfolio Limited paid expenses on behalf of Wedge Asset Management Limited amounting to £3,697 (2022 - £nil). The company also earned fees amounting to £16,800 (2022 - £16,800) in relation to the management of properties owned by Wedge Property Portfolio Limited.


2023 2022
Amounts owed to/(from) related parties at the balance sheet date £ £
Mr P Wedge - director 49,146 32,715
Wedge Property Portfolio Limited (2,988 ) (11,639 )