IRIS Accounts Production v23.3.1.45 08937802 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089378022022-03-31089378022023-03-31089378022022-04-012023-03-31089378022021-03-31089378022021-04-012022-03-31089378022022-03-3108937802ns10:Originalns15:EnglandWales2022-04-012023-03-3108937802ns14:PoundSterlingns10:Original2022-04-012023-03-3108937802ns10:Originalns10:Director12022-04-012023-03-3108937802ns10:Original2022-04-012023-03-3108937802ns10:Original2023-03-3108937802ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3108937802ns10:Originalns10:SmallEntities2022-04-012023-03-3108937802ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3108937802ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3108937802ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3108937802ns10:Originalns10:FullAccounts2022-04-012023-03-3108937802ns10:Original12022-04-012023-03-3108937802ns10:Originalns10:OrdinaryShareClass22022-04-012023-03-3108937802ns10:OrdinaryShareClass3ns10:Original2022-04-012023-03-3108937802ns10:Originalns10:Director22022-04-012023-03-3108937802ns10:Originalns10:RegisteredOffice2022-04-012023-03-3108937802ns10:Original2022-03-3108937802ns10:Originalns5:CurrentFinancialInstruments2023-03-3108937802ns10:Originalns5:CurrentFinancialInstruments2022-03-3108937802ns10:Originalns5:Non-currentFinancialInstruments2023-03-3108937802ns10:Originalns5:Non-currentFinancialInstruments2022-03-3108937802ns5:ShareCapitalns10:Original2023-03-3108937802ns5:ShareCapitalns10:Original2022-03-3108937802ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3108937802ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3108937802ns10:Originalns5:NetGoodwill2022-04-012023-03-3108937802ns10:Originalns5:ComputerEquipment2022-04-012023-03-3108937802ns10:Original2021-04-012022-03-3108937802ns10:Originalns5:NetGoodwill2022-03-3108937802ns10:Originalns5:NetGoodwill2023-03-3108937802ns10:Originalns5:NetGoodwill2022-03-3108937802ns10:Originalns5:ComputerEquipment2022-03-3108937802ns10:Originalns5:ComputerEquipment2023-03-3108937802ns10:Originalns5:ComputerEquipment2022-03-3108937802ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3108937802ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3108937802ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3108937802ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3108937802ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-03-3108937802ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-03-3108937802ns10:Originalns10:OrdinaryShareClass22023-03-3108937802ns10:OrdinaryShareClass3ns10:Original2023-03-3108937802ns10:Original1ns10:Director12022-03-3108937802ns10:Original1ns10:Director12021-03-3108937802ns10:Original1ns10:Director12022-04-012023-03-3108937802ns10:Original1ns10:Director12021-04-012022-03-3108937802ns10:Original1ns10:Director12023-03-3108937802ns10:Original1ns10:Director12022-03-3108937802ns10:Originalns10:Director222022-03-3108937802ns10:Originalns10:Director222021-03-3108937802ns10:Originalns10:Director222022-04-012023-03-3108937802ns10:Originalns10:Director222021-04-012022-03-3108937802ns10:Originalns10:Director222023-03-3108937802ns10:Originalns10:Director222022-03-31
REGISTERED NUMBER: 08937802 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

JF WEALTH MANAGEMENT LTD

JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JF WEALTH MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J D Farrant
S C Farrant





REGISTERED OFFICE: 51 High Street
Bourn
Cambridge
Cambridgeshire
CB23 2TR





REGISTERED NUMBER: 08937802 (England and Wales)





ACCOUNTANTS: Thompson Taraz Rand Ltd
Chartered Accountants
10 Jesus Lane
Cambridge
Cambridgeshire
CB5 8BA

JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 124,888 192,359
Tangible assets 6 1,348 1,121
Investments 7 150 150
126,386 193,630

CURRENT ASSETS
Debtors 8 55,580 57,990
Cash at bank 37,647 36,193
93,227 94,183
CREDITORS
Amounts falling due within one year 9 (91,068 ) (85,338 )
NET CURRENT ASSETS 2,159 8,845
TOTAL ASSETS LESS CURRENT LIABILITIES 128,545 202,475

CREDITORS
Amounts falling due after more than one
year

10

(82,671

)

(151,086

)

PROVISIONS FOR LIABILITIES (256 ) (191 )
NET ASSETS 45,618 51,198

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 45,518 51,098
SHAREHOLDERS' FUNDS 45,618 51,198

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.

JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)

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 and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





J D Farrant - Director


JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)

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

1. STATUTORY INFORMATION

JF 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.

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


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.

Revenue recognition
Revenue is measured at the fair value of the consideration for commissions receivable.

Intangible assets
Goodwill arising on an acquisition of a client base is carried at cost less accumulated amortisation and impairment losses, if any. Amortisation is calculated on a straight line basis over the useful economic life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 33.33% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

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.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

4. EMPLOYEES AND DIRECTORS

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

JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)

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

5. INTANGIBLE FIXED ASSETS
Client
base
£   
COST
At 1 April 2022
and 31 March 2023 684,782
AMORTISATION
At 1 April 2022 492,423
Amortisation for year 67,471
At 31 March 2023 559,894
NET BOOK VALUE
At 31 March 2023 124,888
At 31 March 2022 192,359

6. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 April 2022 2,409
Additions 501
Disposals (811 )
At 31 March 2023 2,099
DEPRECIATION
At 1 April 2022 1,288
Charge for year 274
Eliminated on disposal (811 )
At 31 March 2023 751
NET BOOK VALUE
At 31 March 2023 1,348
At 31 March 2022 1,121

JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)

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

7. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 April 2022
and 31 March 2023 150
NET BOOK VALUE
At 31 March 2023 150
At 31 March 2022 150

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 35,367 37,538
Other debtors 417 1,004
Director's loan account 19,796 19,448
55,580 57,990

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,808 17,080
Other loans 37,740 36,157
Trade creditors 138 -
Corporation tax 28,702 29,206
Social security and other taxes - 425
Other creditors 5,680 2,470
91,068 85,338

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans due within
2-5 years 32,712 63,774
Other loans - 2-5 years 49,959 87,312
82,671 151,086

JF WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08937802)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 125,052 123,469

The bank loans are secured by a fixed and floating charge over the company's assets.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
67 Ordinary A £1 67 67
33 Ordinary B £1 33 33
100 100

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J D Farrant
Balance outstanding at start of year 9,700 7,745
Amounts advanced 9,898 64,726
Amounts repaid (9,700 ) (62,771 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,898 9,700

S C Farrant
Balance outstanding at start of year 9,748 7,745
Amounts advanced 9,898 64,726
Amounts repaid (9,748 ) (62,723 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,898 9,748