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REGISTERED NUMBER: SC588738 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Paul McFadden Wealth Ltd

Paul McFadden Wealth Ltd (Registered number: SC588738)






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


Paul McFadden Wealth Ltd

Company Information
For The Year Ended 31 March 2023







DIRECTORS: P McFadden
Mrs A M Hernandez Mendez





REGISTERED OFFICE: Ground Floor 7 Cambuslang Way
Cambuslang Business Park
United Kingdom
Glasgow
G32 8ND





REGISTERED NUMBER: SC588738 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Paul McFadden Wealth Ltd (Registered number: SC588738)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 53,913 23,483

CURRENT ASSETS
Debtors 5 622,048 930,162
Cash at bank 185,258 347,839
807,306 1,278,001
CREDITORS
Amounts falling due within one year 6 385,170 725,108
NET CURRENT ASSETS 422,136 552,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

476,049

576,376

CREDITORS
Amounts falling due after more than one
year

7

(149,067

)

(217,867

)

PROVISIONS FOR LIABILITIES 8 (12,626 ) (3,955 )
NET ASSETS 314,356 354,554

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 314,256 354,454
SHAREHOLDERS' FUNDS 314,356 354,554

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.

Paul McFadden Wealth Ltd (Registered number: SC588738)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by:





P McFadden - Director


Paul McFadden Wealth Ltd (Registered number: SC588738)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Paul McFadden Wealth Ltd is a private company, limited by shares , registered in Scotland. 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.

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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.

Paul McFadden Wealth Ltd (Registered number: SC588738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 15 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2022 23,084 12,411 35,495
Additions 19,121 22,685 41,806
At 31 March 2023 42,205 35,096 77,301
DEPRECIATION
At 1 April 2022 8,572 3,440 12,012
Charge for year 5,045 6,331 11,376
At 31 March 2023 13,617 9,771 23,388
NET BOOK VALUE
At 31 March 2023 28,588 25,325 53,913
At 31 March 2022 14,512 8,971 23,483

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 79,156 14,178
Other debtors 542,892 915,984
622,048 930,162

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 68,800 69,047
Trade creditors 5,350 3,215
Taxation and social security 211,280 242,637
Other creditors 99,740 410,209
385,170 725,108

Paul McFadden Wealth Ltd (Registered number: SC588738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 149,067 217,867

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 12,626 3,955

Deferred
tax
£   
Balance at 1 April 2022 3,955
Provided during year 8,671
Balance at 31 March 2023 12,626

9. RELATED PARTY DISCLOSURES

Included in other Debtors at the year end is £189,884.93 (£189721.68 - 2022) due from PMW Capital Invest Ltd which is a company in which Paul McFadden is the director and shareholder.