Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 08389899 Mr Simon Puleston iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08389899 2023-02-28 08389899 2024-02-29 08389899 2023-03-01 2024-02-29 08389899 frs-core:CurrentFinancialInstruments 2024-02-29 08389899 frs-core:Non-currentFinancialInstruments 2024-02-29 08389899 frs-core:ComputerEquipment 2024-02-29 08389899 frs-core:ComputerEquipment 2023-03-01 2024-02-29 08389899 frs-core:ComputerEquipment 2023-02-28 08389899 frs-core:FurnitureFittings 2024-02-29 08389899 frs-core:FurnitureFittings 2023-03-01 2024-02-29 08389899 frs-core:FurnitureFittings 2023-02-28 08389899 frs-core:NetGoodwill 2024-02-29 08389899 frs-core:NetGoodwill 2023-03-01 2024-02-29 08389899 frs-core:NetGoodwill 2023-02-28 08389899 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 08389899 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 08389899 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 08389899 frs-core:MotorVehicles 2023-03-01 2024-02-29 08389899 frs-core:ShareCapital 2024-02-29 08389899 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 08389899 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08389899 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 08389899 frs-bus:SmallEntities 2023-03-01 2024-02-29 08389899 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 08389899 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08389899 frs-core:ListedExchangeTraded 2024-02-29 08389899 frs-core:ListedExchangeTraded 2023-02-28 08389899 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-02-28 08389899 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2024-02-29 08389899 frs-core:CostValuation frs-core:ListedExchangeTraded 2024-02-29 08389899 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-02-28 08389899 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2024-02-29 08389899 frs-bus:Director1 2023-03-01 2024-02-29 08389899 frs-bus:Director1 2023-02-28 08389899 frs-bus:Director1 2024-02-29 08389899 frs-countries:EnglandWales 2023-03-01 2024-02-29 08389899 2022-02-28 08389899 2023-02-28 08389899 2022-03-01 2023-02-28 08389899 frs-core:CurrentFinancialInstruments 2023-02-28 08389899 frs-core:Non-currentFinancialInstruments 2023-02-28 08389899 frs-core:ShareCapital 2023-02-28 08389899 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 08389899
Puleston Wealth Management Ltd
Financial Statements
For The Year Ended 29 February 2024
The PHLT Group
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08389899
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,000 6,000
Tangible Assets 5 77,281 82,269
Investments 6 184,240 158,240
264,521 246,509
CURRENT ASSETS
Debtors 7 139,894 135,467
Cash at bank and in hand 7,837 58,649
147,731 194,116
Creditors: Amounts Falling Due Within One Year 8 (66,522 ) (65,813 )
NET CURRENT ASSETS (LIABILITIES) 81,209 128,303
TOTAL ASSETS LESS CURRENT LIABILITIES 345,730 374,812
Creditors: Amounts Falling Due After More Than One Year 9 (31,954 ) (38,097 )
NET ASSETS 313,776 336,715
CAPITAL AND RESERVES
Called up share capital 10 10 10
Profit and Loss Account 313,766 336,705
SHAREHOLDERS' FUNDS 313,776 336,715
Page 1
Page 2
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Simon Puleston
Director
21/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Puleston Wealth Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08389899 . The registered office is Springside, 21 Arley Road, Appleton, Warrington, Cheshire, WA4 4RN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0%
Motor Vehicles 25%
Fixtures & Fittings 25%
Computer Equipment 33%
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is immaterial therefore no provision was made.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 6)
4 6
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 227,502
As at 29 February 2024 227,502
Amortisation
As at 1 March 2023 221,502
Impairment losses 3,000
As at 29 February 2024 224,502
Net Book Value
As at 29 February 2024 3,000
As at 1 March 2023 6,000
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 73,580 31,096 21,744 126,420
As at 29 February 2024 73,580 31,096 21,744 126,420
Depreciation
As at 1 March 2023 - 24,868 19,283 44,151
Provided during the period - 3,275 1,713 4,988
As at 29 February 2024 - 28,143 20,996 49,139
Net Book Value
As at 29 February 2024 73,580 2,953 748 77,281
As at 1 March 2023 73,580 6,228 2,461 82,269
6. Investments
Listed
£
Cost
As at 1 March 2023 158,240
Additions 26,000
As at 29 February 2024 184,240
Provision
As at 1 March 2023 -
As at 29 February 2024 -
...CONTINUED
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Net Book Value
As at 29 February 2024 184,240
As at 1 March 2023 158,240
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,945 6,859
Other taxes and social security - 7,282
Director's loan account 134,949 121,326
139,894 135,467
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 60,400 64,109
Other taxes and social security 922 -
Accruals and deferred income 5,200 1,704
66,522 65,813
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 31,954 38,097
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Simon Puleston - - - - 134,949
The above loans are unsecured, interest free and repayable on demand. The loans outstanding at 28 February 2024 were repaid by a cash injection from the directors of £37,900 in April 2024 and £101,000 in August 2024.
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