REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 19 June 2023 to 30 June 2024 |
for |
Personal Asset Management Wealth Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 19 June 2023 to 30 June 2024 |
for |
Personal Asset Management Wealth Limited |
Personal Asset Management Wealth Limited (Registered number: 14944731) |
Contents of the Financial Statements |
for the period 19 June 2023 to 30 June 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Personal Asset Management Wealth Limited |
Company Information |
for the period 19 June 2023 to 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
Personal Asset Management Wealth Limited (Registered number: 14944731) |
Statement of Financial Position |
30 June 2024 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
Personal Asset Management Wealth Limited (Registered number: 14944731) |
Statement of Financial Position - continued |
30 June 2024 |
Notes | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Personal Asset Management Wealth Limited (Registered number: 14944731) |
Notes to the Financial Statements |
for the period 19 June 2023 to 30 June 2024 |
1. | STATUTORY INFORMATION |
Personal Asset Management Wealth Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. |
Personal Asset Management Wealth Limited (Registered number: 14944731) |
Notes to the Financial Statements - continued |
for the period 19 June 2023 to 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
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 period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
Additions |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
Personal Asset Management Wealth Limited (Registered number: 14944731) |
Notes to the Financial Statements - continued |
for the period 19 June 2023 to 30 June 2024 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
Additions |
At 30 June 2024 |
DEPRECIATION |
Charge for period |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Amounts owed by participating interests | 109,685 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
9. | RELATED PARTY DISCLOSURES |
Included in creditors falling due within one year are amounts totalling £96,481 due to the directors of the company. These amounts are repayable on demand. During the year no interest was paid on the balance. |
Included in debtors are amounts totalling £109,685 due from Personal Asset Management Limited, a company under the control of Mr M J Evans, a director of Personal Asset Wealth Management Limited. |