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REGISTERED NUMBER: SC588738 (Scotland)





















Unaudited Financial Statements

For The Year Ended 31 March 2024

for

Paul McFadden Wealth Ltd

Paul McFadden Wealth Ltd (Registered number: SC588738)






Contents of the Financial Statements
For The Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Paul McFadden Wealth Ltd

Company Information
For The Year Ended 31 March 2024







DIRECTORS: P McFadden
Mrs A M Hernandez Mendez





REGISTERED OFFICE: Ground Floor 7 Cambuslang Way
Cambuslang Business Park
United Kingdom
Glasgow
G32 8ND





REGISTERED NUMBER: SC588738 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Paul McFadden Wealth Ltd (Registered number: SC588738)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 84,499 53,913

CURRENT ASSETS
Debtors 5 728,462 716,776
Cash at bank 280,344 185,258
1,008,806 902,034
CREDITORS
Amounts falling due within one year 6 494,794 384,978
NET CURRENT ASSETS 514,012 517,056
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,511

570,969

CREDITORS
Amounts falling due after more than one
year

7

(79,140

)

(149,067

)

PROVISIONS FOR LIABILITIES 8 (21,125 ) (12,626 )
NET ASSETS 498,246 409,276

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 498,146 409,176
SHAREHOLDERS' FUNDS 498,246 409,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Paul McFadden Wealth Ltd (Registered number: SC588738)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





P McFadden - Director


Paul McFadden Wealth Ltd (Registered number: SC588738)

Notes to the Financial Statements
For The Year Ended 31 March 2024

1. STATUTORY INFORMATION

Paul McFadden Wealth Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.

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.


Paul McFadden Wealth Ltd (Registered number: SC588738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
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 20 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 42,205 - 35,096 77,301
Additions 8,978 2,495 38,046 49,519
At 31 March 2024 51,183 2,495 73,142 126,820
DEPRECIATION
At 1 April 2023 13,617 - 9,771 23,388
Charge for year 5,635 624 12,674 18,933
At 31 March 2024 19,252 624 22,445 42,321
NET BOOK VALUE
At 31 March 2024 31,931 1,871 50,697 84,499
At 31 March 2023 28,588 - 25,325 53,913

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 56,769 79,156
Other debtors 671,693 637,620
728,462 716,776

Paul McFadden Wealth Ltd (Registered number: SC588738)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 68,800 68,800
Trade creditors 17,137 5,350
Taxation and social security 157,435 211,281
Other creditors 251,422 99,547
494,794 384,978

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 79,140 149,067

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 21,125 12,626

Deferred
tax
£   
Balance at 1 April 2023 12,626
Provided during year 8,499
Balance at 31 March 2024 21,125

9. RELATED PARTY DISCLOSURES

As at 31/03/2024, Paul McFadden Wealth Ltd was owed £326,549 by PMW Capital Invest Ltd. There are no fixed repayment terms and this loan is interest free. These companies have a director in common.
As at 31/03/2024, Paul McFadden Wealth Ltd was owed £460 by AHM Wealth Ltd. There are no fixed repayment terms and this loan is interest free. These companies are under common ownership.
As at 31/03/2024, Paul McFadden Wealth Ltd was owed £684 by Acre Road (Glasgow) Developments Ltd. There are no fixed repayment terms and this loan is interest free. These companies have a director in common.