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Registration number: 06750846

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Company Information

Director

J Plevin

Registered office

D S House
306 High Street
Croydon
Surrey
CR0 1NG

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Morton Miller Wealth Management Limited (previously Pentran Trading Limited)
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Morton Miller Wealth Management Limited (previously Pentran Trading Limited) for the year ended 30 November 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Morton Miller Wealth Management Limited (previously Pentran Trading Limited), as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Morton Miller Wealth Management Limited (previously Pentran Trading Limited) and state those matters that we have agreed to state to the Board of Directors of Morton Miller Wealth Management Limited (previously Pentran Trading Limited), as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Morton Miller Wealth Management Limited (previously Pentran Trading Limited) and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Morton Miller Wealth Management Limited (previously Pentran Trading Limited) has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Morton Miller Wealth Management Limited (previously Pentran Trading Limited). You consider that Morton Miller Wealth Management Limited (previously Pentran Trading Limited) is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Morton Miller Wealth Management Limited (previously Pentran Trading Limited). For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

13 August 2024

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

(Registration number: 06750846)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

1,521

1,622

Other financial assets

6

354,807

346,859

 

356,328

348,481

Current assets

 

Debtors

7

342

1,094

Cash at bank and in hand

 

389,275

348,400

 

389,617

349,494

Creditors: Amounts falling due within one year

8

(165,847)

(142,439)

Net current assets

 

223,770

207,055

Total assets less current liabilities

 

580,098

555,536

Provisions for liabilities

(380)

(308)

Net assets

 

579,718

555,228

Capital and reserves

 

Called up share capital

20

20

Revaluation reserve

104,807

96,859

Retained earnings

474,891

458,349

Shareholders' funds

 

579,718

555,228

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

(Registration number: 06750846)
Statement of Financial Position as at 30 November 2023 (continued)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 13 August 2024
 

J Plevin
Director

   
     
 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
D S House
306 High Street
Croydon
Surrey
CR0 1NG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture & fittings

25% on RBM

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

491

540

5

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

7,191

7,191

Additions

390

390

At 30 November 2023

7,581

7,581

Depreciation

At 1 December 2022

5,569

5,569

Charge for the year

491

491

At 30 November 2023

6,060

6,060

Carrying amount

At 30 November 2023

1,521

1,521

At 30 November 2022

1,622

1,622

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

6

Fixed asset investments

Listed investments
£

Total
£

Fixed asset investments

Cost or valuation

At 1 December 2022

346,859

346,859

Revaluations

7,948

7,948

At 30 November 2023

354,807

354,807

Impairment

Carrying amount

At 30 November 2023

354,807

354,807

Listed
investments
£

Cost

250,000

Fair value adjustment in 2014

11,472

Fair value adjustment in 2015

1,830

Fair value adjustment in 2016

7,344

Fair value adjustment in 2017

8,703

Fair value adjustment in 2018

5,335

Fair value adjustment in 2019

4,304

Fair value adjustment in 2020

8,519

Fair value adjustment in 2021

32,542

Fair value adjustment in 2022

16,810

Fair value adjustment in 2023

7,948

354,807

The investments comprise of onshore bonds, the market value of which as at 30th November 2023 amounted to £354,807 (2022 - £346,859). The change in market value is disclosed in the statement of total recognised gains and losses.

 

Morton Miller Wealth Management Limited (previously Pentran Trading Limited)

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

7

Debtors

Current

2023
£

2022
£

Prepayments

283

1,030

Other debtors

59

64

 

342

1,094

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

59,551

49,759

Accruals and deferred income

1,980

1,920

Other creditors

104,316

90,760

165,847

142,439