Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31true2022-06-01falseNo description of principal activity32falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC598807 2022-06-01 2023-05-31 SC598807 2021-06-01 2022-05-31 SC598807 2023-05-31 SC598807 2022-05-31 SC598807 c:Director1 2022-06-01 2023-05-31 SC598807 c:Director2 2022-06-01 2023-05-31 SC598807 c:RegisteredOffice 2022-06-01 2023-05-31 SC598807 d:OfficeEquipment 2022-06-01 2023-05-31 SC598807 d:OfficeEquipment 2023-05-31 SC598807 d:OfficeEquipment 2022-05-31 SC598807 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 SC598807 d:CurrentFinancialInstruments 2023-05-31 SC598807 d:CurrentFinancialInstruments 2022-05-31 SC598807 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 SC598807 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 SC598807 d:ShareCapital 2023-05-31 SC598807 d:ShareCapital 2022-05-31 SC598807 d:RetainedEarningsAccumulatedLosses 2023-05-31 SC598807 d:RetainedEarningsAccumulatedLosses 2022-05-31 SC598807 c:OrdinaryShareClass1 2022-06-01 2023-05-31 SC598807 c:OrdinaryShareClass1 2023-05-31 SC598807 c:OrdinaryShareClass1 2022-05-31 SC598807 c:FRS102 2022-06-01 2023-05-31 SC598807 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 SC598807 c:FullAccounts 2022-06-01 2023-05-31 SC598807 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC598807










BALLANTYNE WEALTH MANAGEMENT LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

 
BALLANTYNE WEALTH MANAGEMENT LTD
 

COMPANY INFORMATION


Directors
Mr J Ballantyne 
Mrs S Ballantyne 




Registered number
SC598807



Registered office
8 Meadowside Road
Cupar

KY15 5DD




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
BALLANTYNE WEALTH MANAGEMENT LTD
REGISTERED NUMBER: SC598807

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
1,225
588

  
1,225
588

Current assets
  

Cash at bank and in hand
  
129,573
109,069

  
129,573
109,069

Creditors: amounts falling due within one year
 5 
(40,010)
(41,739)

Net current assets
  
 
 
89,563
 
 
67,330

Total assets less current liabilities
  
90,788
67,918

Provisions for liabilities
  

Deferred tax
  
(305)
(111)

  
 
 
(305)
 
 
(111)

Net assets
  
90,483
67,807


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
90,383
67,707

  
90,483
67,807


Page 1

 
BALLANTYNE WEALTH MANAGEMENT LTD
REGISTERED NUMBER: SC598807

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2023.




Mr J Ballantyne
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
BALLANTYNE WEALTH MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Ballantyne Wealth Management Ltd is a private company, limited by shares and incorporated in Scotland with registration number SC598807. The registered office is 8 Meadowside Road, Cupar, KY15 5DD. 
The finanical statements are presented in Sterling which is the functional currency of the Company and rounded to the nearest £. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that
the Company has adequate resources to continue in operational existence for the foreseeable future.
The directors have considered a period of 12 months from the date of approval of the financial
statements. Thus the directors continue to adopt the going concern basis of accounting in preparing
the financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
BALLANTYNE WEALTH MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
BALLANTYNE WEALTH MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).

Page 5

 
BALLANTYNE WEALTH MANAGEMENT LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2022
1,994


Additions
1,542



At 31 May 2023

3,536



Depreciation


At 1 June 2022
1,406


Charge for the year on owned assets
905



At 31 May 2023

2,311



Net book value



At 31 May 2023
1,225



At 31 May 2022
588


5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Social security and other taxes
21,810
23,972

Other creditors
15,790
15,467

Accruals and deferred income
2,410
2,300

40,010
41,739



6.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



Page 6