Registered number
SC675487
Macaulay Wealth Management Limited
Report and Accounts
31 March 2024
Macaulay Wealth Management Limited
Registered number: SC675487
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 938,452 776,684
Tangible assets 4 1 249
938,453 776,933
Current assets
Cash at bank and in hand 34,036 57,013
Creditors: amounts falling due within one year 5 (139,223) (121,532)
Net current liabilities (105,187) (64,519)
Total assets less current liabilities 833,266 712,414
Creditors: amounts falling due after more than one year 6 (611,382) (547,216)
Net assets 221,884 165,198
Capital and reserves
Called up share capital 100 100
Profit and loss account 221,784 165,098
Shareholder's funds 221,884 165,198
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Macaulay
Director
Approved by the board on 23 August 2024
Macaulay Wealth Management Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office equipment 25% reducing balance
Computer equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 776,684
Additions 161,768
At 31 March 2024 938,452
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 938,452
At 31 March 2023 776,684
Goodwill is not being written off as it retains it's value within the St James Place Partnership.
4 Tangible fixed assets
Computer Equipment
£
Cost
At 1 April 2023 747
At 31 March 2024 747
Depreciation
At 1 April 2023 498
Charge for the year 248
At 31 March 2024 746
Net book value
At 31 March 2024 1
At 31 March 2023 249
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 50,970 29,466
D & S Ternent Loan 55,000 60,000
Taxes and social security costs 31,734 30,679
Other creditors 1,519 1,387
139,223 121,532
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 411,191 304,354
D & S Ternent Loan 172,942 220,054
Directors Loan Account 27,249 22,808
611,382 547,216
7 Other information
Macaulay Wealth Management Limited is a private company limited by shares and incorporated in Sotland. Its registered office is:
Algo Business Centre
Glenearn Rd
Perth
PH2 0NJ
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