Pemberton & Prince Wealth Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08273439 (England and Wales)

PEMBERTON & PRINCE WEALTH MANAGEMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J A Pemberton

SECRETARY:

J Youngs

REGISTERED OFFICE:

Unit 3

The Stable Block

Cokenach Estate

Royston

Hertfordshire

SG8 8DL

REGISTERED NUMBER:

08273439 (England and Wales)

ACCOUNTANTS:

Hilden Park Accountants Limited

Hilden Park House

79 Tonbridge Road

Hildenborough

Tonbridge

Kent

TN11 9BH

FIXED ASSETS

Intangible assets

4

236,399

261,755

Tangible assets

5

5,492

4,945

241,891

266,700

CURRENT ASSETS

Debtors

71,292

68,210

Cash at bank

18,432

59,570

89,724

127,780

CREDITORS

Amounts falling due within one year

69,874

100,211

NET CURRENT ASSETS

19,850

27,569

TOTAL ASSETS LESS CURRENT LIABILITIES

261,741

294,269

CREDITORS

Amounts falling due after more than one year

6

216,116

236,147

NET ASSETS

45,625

58,122

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

45,624

58,121

SHAREHOLDERS' FUNDS

45,625

58,122

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 May 2019 and were signed by:

J A Pemberton - Director

1.	STATUTORY INFORMATION

Pemberton & Prince Wealth Management Ltd is a private company, limited by shares , registered in England and

Wales. 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.

Goodwill

Puchased goodwill is being amortised over a ten year period.

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.

Plant and machinery etc

-

20% on cost

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.

Taxation

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.

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 5 (2017 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

373,811

Additions

23,430

Disposals

(2,352

)

At 31 December 2018

394,889

AMORTISATION

At 1 January 2018

112,056

Amortisation for year

47,139

Eliminated on disposal

(705

)

At 31 December 2018

158,490

NET BOOK VALUE

At 31 December 2018

236,399

At 31 December 2017

261,755

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

15,032

Additions

4,438

At 31 December 2018

19,470

DEPRECIATION

At 1 January 2018

10,087

Charge for year

3,891

At 31 December 2018

13,978

NET BOOK VALUE

At 31 December 2018

5,492

At 31 December 2017

4,945

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/12/18

31/12/17

£

£

Repayable by instalments

Bank loans more 5 yr by instal

50,380

88,139

7.	RELATED PARTY DISCLOSURES

Included in debtors there is an amount of £38,580 (2017: £17,560) owed by JP Financial Management Limited, a

company under the control of Mr J Pemberton, the director and majority shareholder of Pemberton & Prince

Wealth Management Limited.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J A Pemberton, by virtue of his majority shareholding.