2023-02-152024-02-292024-02-29false14663489JOBLING WEALTH MANAGEMENT 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JOBLING WEALTH MANAGEMENT LIMITED

Registered Number
14663489
(England and Wales)

Unaudited Financial Statements for the Period ended
29 February 2024

JOBLING WEALTH MANAGEMENT LIMITED
Company Information
for the period from 15 February 2023 to 29 February 2024

Directors

JOBLING, John Joseph
THOMPSON, Hugh Raymond Alexander

Registered Address

B1 Dobson Prestwick Park
Prestwick
Newcastle Upon Tyne
NE20 9SJ

Registered Number

14663489 (England and Wales)
JOBLING WEALTH MANAGEMENT LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

£

£

Fixed assets
Tangible assets391,262
91,262
Current assets
Debtors89,637
Current asset investments4996,024
Cash at bank and on hand26,766
1,112,427
Creditors amounts falling due within one year5(114,688)
Net current assets (liabilities)997,739
Total assets less current liabilities1,089,001
Creditors amounts falling due after one year6(985,638)
Net assets103,363
Capital and reserves
Called up share capital100
Share premium30,069
Profit and loss account73,194
Shareholders' funds103,363
The financial statements were approved and authorised for issue by the Board of Directors on 5 September 2024, and are signed on its behalf by:
JOBLING, John Joseph
Director
THOMPSON, Hugh Raymond Alexander
Director

Registered Company No. 14663489
JOBLING WEALTH MANAGEMENT LIMITED
Notes to the Financial Statements
for the period ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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 (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Vehicles5
Office Equipment4
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Trade and other 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.
Trade and other 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.
2.Average number of employees

2024
Average number of employees during the year5
3.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
Additions86,0062,5202,81791,343
Disposals(47,045)--(47,045)
Transfers47,0453,4534,83155,329
At 29 February 2486,0065,9737,64899,627
Depreciation and impairment
Charge for year4,3001,6232,4428,365
At 29 February 244,3001,6232,4428,365
Net book value
At 29 February 2481,7064,3505,20691,262
At 14 February 23----
4.Current asset investments
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables3,878
Amounts owed to related parties20,988
Taxation and social security80,995
Finance lease and HP contracts6,961
Other creditors547
Accrued liabilities and deferred income1,319
Total114,688
6.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts805,805
Amounts owed to related parties116,899
Other creditors62,934
Total985,638
7.Obligations under finance leases

2024

£
Finance lease and HP contracts62,934
8.Provisions for liabilities
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.