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REGISTERED NUMBER: 10650842 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

HONEYCROFT WEALTH MANAGEMENT LIMITED

HONEYCROFT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10650842)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HONEYCROFT WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTOR: A Whitehead





SECRETARY: Mrs S E Whitehead





REGISTERED OFFICE: 1st Floor
49 High Street
Hucknall
Nottinghamshire
NG15 7AW





REGISTERED NUMBER: 10650842 (England and Wales)





ACCOUNTANTS: Elkingtons Accountants Limited
1st Floor
49 High Street
Hucknall
Nottinghamshire
NG15 7AW

HONEYCROFT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10650842)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 333,917 382,763
Tangible assets 5 2,130 2,398
336,047 385,161

CURRENT ASSETS
Debtors 6 16,763 19,512
Cash at bank and in hand 72,512 71,113
89,275 90,625
CREDITORS
Amounts falling due within one year 7 111,401 137,509
NET CURRENT LIABILITIES (22,126 ) (46,884 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

313,921

338,277

CREDITORS
Amounts falling due after more than one
year

8

(313,094

)

(337,682

)

PROVISIONS FOR LIABILITIES (533 ) (456 )
NET ASSETS 294 139

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 194 39
294 139

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

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

HONEYCROFT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10650842)

BALANCE SHEET - continued
31ST 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 7th November 2023 and were signed by:





A Whitehead - Director


HONEYCROFT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10650842)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

Honeycroft Wealth 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 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 2020, is being amortised evenly over its estimated useful life of ten 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.
Computer equipment - 33% on cost

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

HONEYCROFT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10650842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 488,463
AMORTISATION
At 1st April 2022 105,700
Charge for year 48,846
At 31st March 2023 154,546
NET BOOK VALUE
At 31st March 2023 333,917
At 31st March 2022 382,763

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st April 2022 2,359 3,575 5,934
Additions - 336 336
At 31st March 2023 2,359 3,911 6,270
DEPRECIATION
At 1st April 2022 141 3,395 3,536
Charge for year 361 243 604
At 31st March 2023 502 3,638 4,140
NET BOOK VALUE
At 31st March 2023 1,857 273 2,130
At 31st March 2022 2,218 180 2,398

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,008 14,562
Other debtors 4,755 4,950
16,763 19,512

HONEYCROFT WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10650842)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 22,100 27,123
Other creditors 89,301 110,386
111,401 137,509

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 313,094 337,682

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 178,694 142,682

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 349,813 387,682

The director, Mr A Whitehead, is a guarantor for the Honeycroft Wealth Management Limited loan.