Company Registration No. 06261779 (England and Wales)
abacus Wealth Management Limited
Unaudited accounts
for the year ended 31 March 2023
abacus Wealth Management Limited
Unaudited accounts
Contents
abacus Wealth Management Limited
Company Information
for the year ended 31 March 2023
Company Number
06261779 (England and Wales)
Registered Office
3a Blue Sky Way
Monkton Business Park South
Hebburn
NE31 2EQ
United Kingdom
Accountants
Abacus Accounting (NE) Limited
3a Blue Sky Way
Monkton Business Park South
Hebburn
Tyne and Wear
NE31 2EQ
abacus Wealth Management Limited
Statement of financial position
as at 31 March 2023
Intangible assets
225,422
270,506
Cash at bank and in hand
13,908
5,601
Creditors: amounts falling due within one year
(155,058)
(173,456)
Net current assets/(liabilities)
45,778
(10,490)
Total assets less current liabilities
282,014
260,016
Creditors: amounts falling due after more than one year
(226,726)
(161,510)
Called up share capital
3
3
Profit and loss account
55,285
98,503
Shareholders' funds
55,288
98,506
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 11 October 2023 and were signed on its behalf by
Mr Ian Roy White
Director
Company Registration No. 06261779
abacus Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2023
abacus Wealth Management Limited is a private company, limited by shares, registered in England and Wales, registration number 06261779. The registered office is 3a Blue Sky Way, Monkton Business Park South, Hebburn, NE31 2EQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
Charge for the year
45,084
abacus Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2023
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
26,585
-
26,585
Additions
281
14,419
14,700
At 31 March 2023
26,866
14,419
41,285
At 1 April 2022
26,585
-
26,585
Charge for the year
281
3,605
3,886
At 31 March 2023
26,866
3,605
30,471
At 31 March 2023
-
10,814
10,814
Amounts falling due within one year
Trade debtors
117,672
157,365
Accrued income and prepayments
13,000
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
88,449
81,800
Trade creditors
14,569
32,958
Taxes and social security
52,040
58,698
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
226,726
161,510
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).