IRIS Accounts Production v24.3.0.553 12585698 director 1.3.23 29.2.24 29.2.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125856982023-02-28125856982024-02-29125856982023-03-012024-02-29125856982022-02-28125856982022-03-012023-02-28125856982023-02-2812585698ns15:EnglandWales2023-03-012024-02-2912585698ns14:PoundSterling2023-03-012024-02-2912585698ns10:Director12023-03-012024-02-2912585698ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2912585698ns10:SmallEntities2023-03-012024-02-2912585698ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2912585698ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2912585698ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2912585698ns10:FullAccounts2023-03-012024-02-291258569812023-03-012024-02-2912585698ns10:OrdinaryShareClass12023-03-012024-02-2912585698ns10:CompanySecretary12023-03-012024-02-2912585698ns10:RegisteredOffice2023-03-012024-02-2912585698ns5:CurrentFinancialInstruments2024-02-2912585698ns5:CurrentFinancialInstruments2023-02-2812585698ns5:ShareCapital2024-02-2912585698ns5:ShareCapital2023-02-2812585698ns5:RetainedEarningsAccumulatedLosses2024-02-2912585698ns5:RetainedEarningsAccumulatedLosses2023-02-2812585698ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2912585698ns5:FurnitureFittings2023-03-012024-02-2912585698ns5:ComputerEquipment2023-03-012024-02-2912585698ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-02-2812585698ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-012024-02-2912585698ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-02-2912585698ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-02-2812585698ns5:FurnitureFittings2023-02-2812585698ns5:ComputerEquipment2023-02-2812585698ns5:FurnitureFittings2024-02-2912585698ns5:ComputerEquipment2024-02-2912585698ns5:FurnitureFittings2023-02-2812585698ns5:ComputerEquipment2023-02-2812585698ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2912585698ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2812585698ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 12585698 (England and Wales)










Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Cornucopia Wealth Management Ltd

Cornucopia Wealth Management Ltd (Registered number: 12585698)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cornucopia Wealth Management Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTOR: M J Jenkinson





SECRETARY: M J Jenkinson





REGISTERED OFFICE: 2 Heap Bridge
Bury
BL9 7HR





REGISTERED NUMBER: 12585698 (England and Wales)





ACCOUNTANTS: Thompson Jones Business Solutions Limited
2 Heap Bridge
Bury
Lancashire
BL9 7HR

Cornucopia Wealth Management Ltd (Registered number: 12585698)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 121,866 138,298
Tangible assets 5 906 1,092
122,772 139,390

CURRENT ASSETS
Debtors 6 1,147 18,410
Cash at bank 6,212 1,775
7,359 20,185
CREDITORS
Amounts falling due within one year 7 (132,790 ) (158,407 )
NET CURRENT LIABILITIES (125,431 ) (138,222 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,659

)

1,168

PROVISIONS FOR LIABILITIES (209 ) (208 )
NET (LIABILITIES)/ASSETS (2,868 ) 960

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (2,968 ) 860
SHAREHOLDERS' FUNDS (2,868 ) 960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Cornucopia Wealth Management Ltd (Registered number: 12585698)

Balance Sheet - continued
29 February 2024


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 Profit And Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2024 and were signed by:





M J Jenkinson - Director


Cornucopia Wealth Management Ltd (Registered number: 12585698)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Cornucopia Wealth Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12585698. The registered office is C/O DIGI Accountancy Ltd, 6th Floor, Parsonage Chambers, Manchester, M3 2HW.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There have been no judgements, estimates or assumptions made in the preparation of these financial statements.

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.

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.

INTANGIBLE FIXED ASSETS AND AMORTISATION - OTHER INTANGIBLE
Other intangible assets is the aqusition of a portfolio. It is amortised to profit and loss account over its estimated economic life of 10 years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance


Cornucopia Wealth Management Ltd (Registered number: 12585698)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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 recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Developme
costs
£   
COST
At 1 March 2023
and 29 February 2024 164,315
AMORTISATION
At 1 March 2023 26,017
Amortisation for year 16,432
At 29 February 2024 42,449
NET BOOK VALUE
At 29 February 2024 121,866
At 28 February 2023 138,298

Cornucopia Wealth Management Ltd (Registered number: 12585698)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 50 1,397 1,447
DEPRECIATION
At 1 March 2023 12 343 355
Charge for year 38 148 186
At 29 February 2024 50 491 541
NET BOOK VALUE
At 29 February 2024 - 906 906
At 28 February 2023 38 1,054 1,092

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,147 18,373
Other debtors - 37
1,147 18,410

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 126,345 142,634
Taxation and social security 6,304 15,473
Other creditors 141 300
132,790 158,407

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100