PTP Accounts Production v22.3.3.48 09698477 director 1.12.22 30.11.23 30.11.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure096984772022-11-30096984772023-11-30096984772022-12-012023-11-30096984772021-11-30096984772021-12-012022-11-30096984772022-11-3009698477ns16:EnglandWales2022-12-012023-11-3009698477ns15:PoundSterling2022-12-012023-11-3009698477ns11:Director12022-12-012023-11-3009698477ns11:PrivateLimitedCompanyLtd2022-12-012023-11-3009698477ns11:SmallEntities2022-12-012023-11-3009698477ns11:AuditExempt-NoAccountantsReport2022-12-012023-11-3009698477ns11:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3009698477ns11:SmallCompaniesRegimeForAccounts2022-12-012023-11-3009698477ns11:FullAccounts2022-12-012023-11-300969847712022-12-012023-11-3009698477ns11:RegisteredOffice2022-12-012023-11-3009698477ns6:CurrentFinancialInstruments2023-11-3009698477ns6:CurrentFinancialInstruments2022-11-3009698477ns6:Non-currentFinancialInstruments2023-11-3009698477ns6:Non-currentFinancialInstruments2022-11-3009698477ns6:ShareCapital2023-11-3009698477ns6:ShareCapital2022-11-3009698477ns6:RetainedEarningsAccumulatedLosses2023-11-3009698477ns6:RetainedEarningsAccumulatedLosses2022-11-3009698477ns6:NetGoodwill2022-12-012023-11-3009698477ns6:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3009698477ns6:FurnitureFittings2022-12-012023-11-3009698477ns6:MotorVehicles2022-12-012023-11-3009698477ns6:NetGoodwill2022-11-3009698477ns6:NetGoodwill2023-11-3009698477ns6:NetGoodwill2022-11-3009698477ns6:LandBuildings2022-11-3009698477ns6:FurnitureFittings2022-11-3009698477ns6:MotorVehicles2022-11-3009698477ns6:LandBuildings2022-12-012023-11-3009698477ns6:LandBuildings2023-11-3009698477ns6:FurnitureFittings2023-11-3009698477ns6:MotorVehicles2023-11-3009698477ns6:LandBuildings2022-11-3009698477ns6:FurnitureFittings2022-11-3009698477ns6:MotorVehicles2022-11-3009698477ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-11-3009698477ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-12-012023-11-3009698477ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-11-3009698477ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-11-3009698477ns6:WithinOneYearns6:CurrentFinancialInstruments2023-11-3009698477ns6:WithinOneYearns6:CurrentFinancialInstruments2022-11-3009698477ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-11-3009698477ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-11-3009698477ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2023-11-3009698477ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-11-3009698477ns11:Director112022-11-3009698477ns11:Director112021-11-3009698477ns11:Director112022-12-012023-11-3009698477ns11:Director112021-12-012022-11-3009698477ns11:Director112023-11-3009698477ns11:Director112022-11-30
REGISTERED NUMBER: 09698477 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Hamwic Wealth Management Limited

Hamwic Wealth Management Limited (Registered number: 09698477)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hamwic Wealth Management Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: R Bailey





REGISTERED OFFICE: 1 Post Office House
184 Bridge Road
Sarisbury Green
Southampton
Hampshire
SO31 7ED





REGISTERED NUMBER: 09698477 (England and Wales)





ACCOUNTANTS: PD Accountancy Services Ltd
1 Post Office House
184 Bridge Road
Sarisbury Green
Southampton
Hampshire
SO31 7ED

Hamwic Wealth Management Limited (Registered number: 09698477)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 517,962 553,387
Tangible assets 5 57,157 71,697
575,119 625,084

CURRENT ASSETS
Debtors 6 48,768 38,907
Cash at bank 2,984 960
51,752 39,867
CREDITORS
Amounts falling due within one year 7 173,143 186,268
NET CURRENT LIABILITIES (121,391 ) (146,401 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

453,728

478,683

CREDITORS
Amounts falling due after more than one
year

8

(191,181

)

(245,857

)

PROVISIONS FOR LIABILITIES (2,432 ) (3,599 )
NET ASSETS 260,115 229,227

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 260,015 229,127
SHAREHOLDERS' FUNDS 260,115 229,227

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Hamwic Wealth Management Limited (Registered number: 09698477)

Balance Sheet - continued
30 November 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 director and authorised for issue on 27 August 2024 and were signed by:





R Bailey - Director


Hamwic Wealth Management Limited (Registered number: 09698477)

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

1. STATUTORY INFORMATION

Hamwic Wealth Management Limited 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 15% on reducing balance

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.

Hamwic Wealth Management Limited (Registered number: 09698477)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022 729,302
Disposals (850 )
At 30 November 2023 728,452
AMORTISATION
At 1 December 2022 175,915
Charge for year 34,575
At 30 November 2023 210,490
NET BOOK VALUE
At 30 November 2023 517,962
At 30 November 2022 553,387

Hamwic Wealth Management Limited (Registered number: 09698477)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 6,084 13,422 69,399 88,905
Disposals - (8,106 ) - (8,106 )
At 30 November 2023 6,084 5,316 69,399 80,799
DEPRECIATION
At 1 December 2022 - 4,586 12,622 17,208
Charge for year - 1,325 8,517 9,842
Eliminated on disposal - (3,408 ) - (3,408 )
At 30 November 2023 - 2,503 21,139 23,642
NET BOOK VALUE
At 30 November 2023 6,084 2,813 48,260 57,157
At 30 November 2022 6,084 8,836 56,777 71,697

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2022
and 30 November 2023 69,399
DEPRECIATION
At 1 December 2022 12,622
Charge for year 8,517
At 30 November 2023 21,139
NET BOOK VALUE
At 30 November 2023 48,260
At 30 November 2022 56,777

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 25,980 17,294
Other debtors 3,438 11,844
Directors' current accounts 17,600 8,264
Prepayments 1,750 1,505
48,768 38,907

Hamwic Wealth Management Limited (Registered number: 09698477)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 35,359 58,833
Other loans 37,665 40,036
Hire purchase contracts 11,583 11,583
Tax 86,170 70,373
Social security and other taxes 791 4,309
Other creditors 627 186
Accrued expenses 948 948
173,143 186,268

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 2-5 years 116,332 135,353
Other loans - 2-5 years 42,927 70,515
Hire purchase contracts 31,922 39,989
191,181 245,857

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Other loans 80,592 110,551

The amounts shown in others loan has been personally secured via a personal guarantee given by the director.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
R Bailey
Balance outstanding at start of year 8,254 (185 )
Amounts advanced 108,825 106,742
Amounts repaid (99,479 ) (98,303 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,600 8,254

Interest is charged on the above loan at the HMRC recommended rate.

11. RELATED PARTY DISCLOSURES

During the period in question the director received dividends to the value of £86,000 (2022 86,000).

Hamwic Wealth Management Limited (Registered number: 09698477)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

12. ULTIMATE CONTROLLING PARTY

The company is ultimately controlled by the director by virtue of their 100% interest in the issued share capital of the company.