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REGISTERED NUMBER: 08245086 (Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ANDREW HUGHES WEALTH MANAGEMENT CYF

ANDREW HUGHES WEALTH MANAGEMENT CYF (REGISTERED NUMBER: 08245086)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


ANDREW HUGHES WEALTH MANAGEMENT CYF (REGISTERED NUMBER: 08245086)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 66,287 79,268
Tangible assets 5 19,958 17,587
Investments 6 91,362 104,904
177,607 201,759

CURRENT ASSETS
Debtors 7 142,941 95,733
Cash at bank 135,491 66,598
278,432 162,331
CREDITORS
Amounts falling due within one year 8 103,997 100,817
NET CURRENT ASSETS 174,435 61,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,042

263,273

CREDITORS
Amounts falling due after more than one
year

9

(53,717

)

(64,671

)

PROVISIONS FOR LIABILITIES (3,792 ) (3,341 )
NET ASSETS 294,533 195,261

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 294,433 195,161
SHAREHOLDERS' FUNDS 294,533 195,261

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ANDREW HUGHES WEALTH MANAGEMENT CYF (REGISTERED NUMBER: 08245086)

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





I A Hughes - Director


ANDREW HUGHES WEALTH MANAGEMENT CYF (REGISTERED NUMBER: 08245086)

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


1. STATUTORY INFORMATION

Andrew Hughes Wealth Management Cyf is a private company, limited by shares , registered in Wales. The company's registered number and registered office address are as below:

Registered number: 08245086

Registered office: Glaslyn Ffordd Y Parc
Parc Menai
Bangor
Gwynedd
LL57 4FE

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents gross invoiced sales.

Goodwill
Goodwill, is being amortised evenly over its estimated useful life of ten years.

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 - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.

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.

ANDREW HUGHES WEALTH MANAGEMENT CYF (REGISTERED NUMBER: 08245086)

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


2. 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.

Investments
Listed investments are stated at market value at the balance sheet date. Changes in market value are recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 129,776
AMORTISATION
At 1 April 2022 50,508
Charge for year 12,981
At 31 March 2023 63,489
NET BOOK VALUE
At 31 March 2023 66,287
At 31 March 2022 79,268

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 39,307
Additions 7,361
At 31 March 2023 46,668
DEPRECIATION
At 1 April 2022 21,720
Charge for year 4,990
At 31 March 2023 26,710
NET BOOK VALUE
At 31 March 2023 19,958
At 31 March 2022 17,587

ANDREW HUGHES WEALTH MANAGEMENT CYF (REGISTERED NUMBER: 08245086)

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


6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 104,904
Additions 4,071
Revaluations (17,613 )
At 31 March 2023 91,362
NET BOOK VALUE
At 31 March 2023 91,362
At 31 March 2022 104,904


Fixed assets investments are all listed investments.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 135,879 88,444
Other debtors 7,062 7,289
142,941 95,733

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,387 11,387
Taxation and social security 67,904 50,625
Other creditors 24,706 38,805
103,997 100,817

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 53,717 64,671

Amounts falling due in more than five years:

Repayable by instalments
BSP loan more 5 yr by instal 8,169 19,123