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PJL WEALTH MANAGEMENT LTD

Unaudited Financial Statements

for the Period 1 March 2022 to 31 March 2023






PJL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 13525086)

Contents of the Financial Statements
for the Period 1 March 2022 to 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PJL WEALTH MANAGEMENT LTD

Company Information
for the Period 1 March 2022 to 31 March 2023







DIRECTOR: P J Leslie





REGISTERED OFFICE: 4 Barrow Road
Streatham
London
SW16 5PF





REGISTERED NUMBER: 13525086 (England and Wales)





ACCOUNTANTS: Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
B75 5BE

PJL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 13525086)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 1,693,636 -
Tangible assets 6 53,317 -
1,746,953 -

CURRENT ASSETS
Debtors 7 26,493 -
Cash at bank and in hand 80,615 100
107,108 100
CREDITORS
Amounts falling due within one year 8 (710,645 ) -
NET CURRENT (LIABILITIES)/ASSETS (603,537 ) 100
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,143,416

100

CREDITORS
Amounts falling due after more than one
year

9

(443,255

)

-
NET ASSETS 700,161 100

CAPITAL AND RESERVES
Called up share capital 10 200 100
Share premium 672,675 -
Retained earnings 27,286 -
SHAREHOLDERS' FUNDS 700,161 100

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 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.

PJL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 13525086)

Balance Sheet - continued
31 March 2023


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 8 August 2023 and were signed by:





P J Leslie - Director


PJL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 13525086)

Notes to the Financial Statements
for the Period 1 March 2022 to 31 March 2023


1. STATUTORY INFORMATION

PJL Wealth Management Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 twenty 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.
Plant and machinery etc - 33% on cost, 20% on cost and 20% on reducing balance

Taxation
Taxation for the period 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 period 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.

PJL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 13525086)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 1,782,775
At 31 March 2023 1,782,775
AMORTISATION
Charge for period 89,139
At 31 March 2023 89,139
NET BOOK VALUE
At 31 March 2023 1,693,636

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 67,319
At 31 March 2023 67,319
DEPRECIATION
Charge for period 14,002
At 31 March 2023 14,002
NET BOOK VALUE
At 31 March 2023 53,317

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 23,657 -
Other debtors 2,836 -
26,493 -

PJL WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 13525086)

Notes to the Financial Statements - continued
for the Period 1 March 2022 to 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 1,063 -
Taxation and social security 31,427 -
Other creditors 678,155 -
710,645 -

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 443,255 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 200 100

100 Ordinary shares of £1 each were allotted as fully paid at a premium of £6,726.75 per share during the period.

11. RELATED PARTY DISCLOSURES

On 5 March 2022, the director transferred his sole trader business to the company. The business was valued at £1,782,775 and the company assumed personal loans of £1,110,000.

Within other creditors is a loan of £619,710 from the director.This loan is interest-free and repayable on demand.