Kingswood Taxation & Wealth Management Ltd Filleted accounts for Companies House (small and micro)
Kingswood Taxation & Wealth Management Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04748343
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For the year ended |
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Financial Statements |
Year ended 31 July 2019
Contents |
Page |
Officers and professional advisers |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
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Officers and Professional Advisers |
Director |
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Registered office |
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Accountants |
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Chartered Accountants |
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550 Valley Road |
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Basford |
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Nottingham |
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NG5 1JJ |
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Bankers |
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43 Irongate |
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Derby |
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DE1 3FT |
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Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
4 |
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Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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--------- |
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Creditors: amounts falling due within one year |
7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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Provisions
Taxation including deferred tax |
(
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(
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Net assets |
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Capital and reserves
Called up share capital |
9 |
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Share premium account |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
31 July 2020
, and are signed on behalf of the board by:
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Director |
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Company registration number:
04748343
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Notes to the Financial Statements |
Year ended 31 July 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Lake View Drive, Annesley, Nottingham, NG15 0EA.
2.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property improvements |
- |
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Fixtures and fittings |
- |
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Motor vehicles |
- |
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Finance leases and hire purchase contracts
Provisions
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Defined contribution plans
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2018:
10
).
4.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 1 August 2018 |
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Additions |
– |
Disposals of previously acquired businesses |
(
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At 31 July 2019 |
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Amortisation |
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At 1 August 2018 |
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Charge for the year |
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Disposals of previously acquired businesses |
(
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------------ |
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At 31 July 2019 |
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Carrying amount |
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At 31 July 2019 |
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At 31 July 2018 |
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5.
Tangible assets
Land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 August 2018 |
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Disposals |
– |
– |
(
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(
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-------- |
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At 31 July 2019 |
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-------- |
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Depreciation |
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At 1 August 2018 |
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Charge for the year |
– |
– |
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Disposals |
– |
– |
(
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(
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-------- |
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At 31 July 2019 |
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Carrying amount |
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At 31 July 2019 |
– |
– |
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At 31 July 2018 |
– |
– |
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6.
Debtors
2019 |
2018 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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--------- |
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7.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Bank loans and overdrafts |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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8.
Creditors:
amounts falling due after more than one year
2019 |
2018 |
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£ |
£ |
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Bank loans and overdrafts |
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Other creditors |
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9.
Called up share capital
Issued, called up and fully paid
2019 |
2018 |
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No. |
£ |
No. |
£ |
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1,081 |
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1,081 |
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3 |
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3 |
------- |
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The ordinary A shares have dividend rights only.
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2019 |
2018 |
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£ |
£ |
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Later than 1 year and not later than 5 years |
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11.
Director's advances, credits and guarantees
At the statement of financial position date the directors owed the company £705,130 (2018: £814,216). This amount is unsecured, interest free and repayable on demand.