Perry Appleton Financial Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03754162 (England and Wales)

Unaudited Financial Statements

For The Year Ended 30 April 2019

for

Perry Appleton Financial Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A M Curtis

Mr N M Toms

Mr S G Leech

SECRETARY:

Mr N M Toms

REGISTERED OFFICE:

The Elms 3 Newbold Road

Rugby

Warwickshire

CV21 2LQ

REGISTERED NUMBER:

03754162 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

The Stables

Church Walk

Daventry

Northamptonshire

NN11 4BL

FIXED ASSETS

Intangible assets

4

25,447

34,673

Tangible assets

5

240

745

25,687

35,418

CURRENT ASSETS

Debtors

6

74,456

85,146

Cash at bank

80,107

43,163

154,563

128,309

CREDITORS

Amounts falling due within one year

7

27,964

17,818

NET CURRENT ASSETS

126,599

110,491

TOTAL ASSETS LESS CURRENT LIABILITIES

152,286

145,909

CAPITAL AND RESERVES

Called up share capital

7,500

7,500

Capital redemption reserve

2,500

2,500

Retained earnings

142,286

135,909

SHAREHOLDERS' FUNDS

152,286

145,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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.

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.

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 on 17 July 2019 and were signed on its behalf by:

Mr A M Curtis - Director

1.	STATUTORY INFORMATION

Perry Appleton Financial 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 represents commission earned and fees which are mainly taken to credit when debit or fee notes are

issued irrespective of the inception date or period of insurance.

Goodwill

Goodwill, being the amount paid in connection with the acquisitions of businesses in 2000, 2006, 2008 and

2010 is being written off evenly over its estimated useful life of fifteen years. Goodwill purchased in 2012 is

being written off evenly over its useful estimated useful life of five years

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

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.

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.

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 NIL (2018 - 15 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2018

and 30 April 2019

198,434

AMORTISATION

At 1 May 2018

163,761

Charge for year

9,226

At 30 April 2019

172,987

NET BOOK VALUE

At 30 April 2019

25,447

At 30 April 2018

34,673

Goodwill arose on the purchase of unincorporated businesses in 2000, 2006, 2008, 2010 which is being

amortised over 15 years. Goodwill arose on the purchase of unincorporated businesses in 2012 which is being

amortised over 5 years. In the opinion of the directors, this represents a prudent estimate of the period over

which the company will derive economic benefit from the customer base acquired from those businesses.

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2018

and 30 April 2019

478

2,809

3,287

DEPRECIATION

At 1 May 2018

478

2,064

2,542

Charge for year

-

505

505

At 30 April 2019

478

2,569

3,047

NET BOOK VALUE

At 30 April 2019

-

240

240

At 30 April 2018

-

745

745

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/19

30/4/18

£

£

Trade debtors

68,766

84,346

Other debtors

5,690

800

74,456

85,146

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/4/19

30/4/18

£

£

Tax

25,464

15,318

Accrued expenses

2,500

2,500

27,964

17,818

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

30/4/19

30/4/18

£

£

Within one year

-

11,219

9.	SECURED DEBTS

All liabilities of the Company, both present and future, to National Westminster Bank Plc are secured by way

of fixed and floating charges against all assets of the Company.

10.	RELATED PARTY DISCLOSURES

A M Curtis, N M Toms and S G Leech are directors of Perry Appleton Risk Services Limited. During the year

the company incurred costs of £21,000 (2018- £29,677) from Perry Appleton Risk Services Limited and

charged £20,000 (2018 - £24,000) to Perry Appleton Risk Services Limited. At the year end the company owed

£nil (2018 - £nil) to Perry Appleton Risk Services Limited.

A M Curtis, N M Toms and S G Leech are directors of Perry Appleton Private Clients Limited. During the

year the company charged £2,000 (2018 - £18,000) to Perry Appleton Private Clients Limited. At the year end

the company was due £nil (2018 - £nil) from Perry Appleton Private Clients Limited.

During the year, third party commissions of £nil (2018 - £nil) were received from Perry Appleton Risk

Services Limited.

During the year dividends totalling £99,000 (2018- £87,000) were paid to the directors.

11.	ULTIMATE CONTROLLING PARTY

There is no controlling party.