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Registered number: 02847294
Jones Cooper Wealth Management Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 June 2024
FBS Accountants Ltd
21 Fewston Crescent
Harrogate
North Yorkshire
HG1 2BP
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 02847294
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 350,598 350,598
Tangible Assets 5 45,230 47,960
395,828 398,558
CURRENT ASSETS
Debtors 229,286 486,641
Cash at bank and in hand 288,979 97,851
518,265 584,492
Creditors: Amounts Falling Due Within One Year (63,872 ) (67,328 )
NET CURRENT ASSETS (LIABILITIES) 454,393 517,164
TOTAL ASSETS LESS CURRENT LIABILITIES 850,221 915,722
PROVISIONS FOR LIABILITIES
Deferred Taxation 6 (8,594 ) (9,112 )
NET ASSETS 841,627 906,610
CAPITAL AND RESERVES
Called up share capital 7 6 6
Revaluation reserve 8 140,237 140,237
Profit and Loss Account 701,384 766,367
SHAREHOLDERS' FUNDS 841,627 906,610
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 June 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr S Jones
Director
24/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Jones Cooper Wealth Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02847294 . The registered office is The Stables, Whinchat Hall, Skipwith Road, Escrick, York, YO19 6EJ.
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 comprises the value of commissions and fees receivable in the year.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
No amortisation is provided on goodwill as the directors are of the opinion that the value of the business continues to exceed the value of goodwill.
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:
Plant & Machinery estimated realisable value at Balance Sheet date
Fixtures & Fittings estimated realisable value at Balance Sheet date
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 year 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 asset reflects 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. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 6)
5 6
Page 3
Page 4
4. Intangible Assets
Total
£
Cost
As at 1 July 2023 350,598
As at 30 June 2024 350,598
Net Book Value
As at 30 June 2024 350,598
As at 1 July 2023 350,598
5. Tangible Assets
Total
£
Cost
As at 1 July 2023 96,876
Additions 8,460
As at 30 June 2024 105,336
Depreciation
As at 1 July 2023 48,916
Provided during the period 11,190
As at 30 June 2024 60,106
Net Book Value
As at 30 June 2024 45,230
As at 1 July 2023 47,960
6. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances (518 ) (938 )
Other timing differences 9,112 10,050
8,594 9,112
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
8. Reserves
Revaluation Reserve
£
As at 1 July 2023 140,237
As at 30 June 2024 140,237
Page 4
Page 5
9. Related Party Transactions
Included in Paraplanning fees is a sum of £12,075 (2023 - £13,375) paid to a business owned by J P Holian.
Page 5