Hayes Wealth Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07115535 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Hayes Wealth Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Hayes

Mrs K Hayes

REGISTERED OFFICE:

35a Potterton Lane

Barwick In Elmet

Leeds

LS15 4DU

REGISTERED NUMBER:

07115535 (England and Wales)

ACCOUNTANTS:

Sochall Smith Limited

Chartered Accountants

3 Park Square

Leeds

LS1 2NE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

7,596

10,678

7,596

10,678

CURRENT ASSETS

Debtors

6

1,813

209,513

Cash at bank and in hand

277,068

15,831

278,881

225,344

CREDITORS

Amounts falling due within one year

7

42,726

19,360

NET CURRENT ASSETS

236,155

205,984

TOTAL ASSETS LESS CURRENT LIABILITIES

243,751

216,662

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

243,651

216,562

SHAREHOLDERS' FUNDS

243,751

216,662

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 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 7 October 2019 and were signed on its behalf by:

S Hayes - Director

1.	STATUTORY INFORMATION

Hayes Wealth Management Limited 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 net invoiced sales of services, excluding value added tax.

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

-

25% on reducing balance

Computer equipment

-

25% 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 2 (2017 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

108,246

AMORTISATION

At 1 January 2018

and 31 December 2018

108,246

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2018

and 31 December 2018

8,894

5,430

14,324

DEPRECIATION

At 1 January 2018

726

2,920

3,646

Charge for year

2,224

858

3,082

At 31 December 2018

2,950

3,778

6,728

NET BOOK VALUE

At 31 December 2018

5,944

1,652

7,596

At 31 December 2017

8,168

2,510

10,678

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,813

3,731

Directors' current accounts

-

205,782

1,813

209,513

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

29,336

8,940

Corporation tax

7,077

4,633

Social security and other taxes

-

1,287

Directors' current accounts

1,813

-

Other creditors and accruals

4,500

4,500

42,726

19,360

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY