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Company Registration No. 07570964 (England and Wales)
Knightsbridge Wealth Management Limited Unaudited accounts for the year ended 31 March 2022
Knightsbridge Wealth Management Limited Unaudited accounts Contents
Page
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Knightsbridge Wealth Management Limited Company Information for the year ended 31 March 2022
Director
Owen Hall
Company Number
07570964 (England and Wales)
Registered Office
OFFICE 81 BOWERS MILL BRANCH ROAD BARKISLAND HALIFAX WEST YORKSHIRE HX4 0AD
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Knightsbridge Wealth Management Limited Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
658 
1,287 
Investments
7,505,000 
2,105,000 
7,505,658 
2,106,287 
Current assets
Cash at bank and in hand
84,613 
30,612 
Creditors: amounts falling due within one year
(181,431)
(493,899)
Net current liabilities
(96,818)
(463,287)
Total assets less current liabilities
7,408,840 
1,643,000 
Creditors: amounts falling due after more than one year
(32,770)
(50,000)
Provisions for liabilities
Deferred tax
(125)
(245)
Net assets
7,375,945 
1,592,755 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
7,375,944 
1,592,754 
Shareholders' funds
7,375,945 
1,592,755 
For the year ending 31 March 2022 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 24 November 2023 and were signed on its behalf by
Owen Hall Director Company Registration No. 07570964
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Knightsbridge Wealth Management Limited Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Knightsbridge Wealth Management Limited is a private company, limited by shares, registered in England and Wales, registration number 07570964. The registered office is OFFICE 81 BOWERS MILL, BRANCH ROAD BARKISLAND, HALIFAX, WEST YORKSHIRE, HX4 0AD.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Plant & machinery
33
Fixtures & fittings
33
Computer equipment
33
Investments
Investments in shares are included at fair value.
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Knightsbridge Wealth Management Limited Notes to the Accounts for the year ended 31 March 2022
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 April 2021
600 
- 
600 
Disposals
- 
(5,605,000)
(5,605,000)
Revaluations
- 
5,605,000 
5,605,000 
At 31 March 2022
600 
- 
600 
Amortisation
At 1 April 2021
600 
- 
600 
At 31 March 2022
600 
- 
600 
Net book value
At 31 March 2022
- 
- 
- 
During the year under review the company disposed of its entitlement to trial commissions. This valuable asset was acquired by the company on incorporation from the owner and director Mr. Owen Hall and as such was eligible for incorporation relief. At the time of incorporation, the value of this asset was not recognised in the accounts. On the disposal of this asset the director recognised the true value at acquisition of the asset and transferred that amount into the fair value reserve.
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 April 2021
27,024 
At 31 March 2022
27,024 
Depreciation
At 1 April 2021
25,737 
Charge for the year
629 
At 31 March 2022
26,366 
Net book value
At 31 March 2022
658 
At 31 March 2021
1,287 
6
Investments
Other investments 
£ 
Valuation at 1 April 2021
2,105,000 
Additions
5,400,000 
Valuation at 31 March 2022
7,505,000 
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Knightsbridge Wealth Management Limited Notes to the Accounts for the year ended 31 March 2022
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
9,398 
- 
Taxes and social security
137,835 
273,295 
Other creditors
40,719 
220,604 
Loans from directors
(6,521)
- 
181,431 
493,899 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
32,770 
50,000 
9
Average number of employees
During the year the average number of employees was 2 (2021: 2).
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