Bluecoat Wealth Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06828686 (England and Wales)

BLUECOAT WEALTH MANAGEMENT LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R N Clarke

SECRETARY:

Mrs W S Clarke

REGISTERED OFFICE:

11 Lady Bee Enterprise Centre

Albion Street

Southwick

West Sussex

BN42 4BW

REGISTERED NUMBER:

06828686 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,457

5,191

6,457

5,191

CURRENT ASSETS

Debtors

6

12,470

1,156

Cash at bank

17,507

14,840

29,977

15,996

CREDITORS

Amounts falling due within one year

7

(21,483

)

(19,667

)

NET CURRENT ASSETS/(LIABILITIES)

8,494

(3,671

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,951

1,520

PROVISIONS FOR LIABILITIES

(1,588

)

(933

)

NET ASSETS

13,363

587

CAPITAL AND RESERVES

Called up share capital

8

2,003

12

Retained earnings

11,360

575

SHAREHOLDERS' FUNDS

13,363

587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 September 2020 and were signed by:

R N Clarke - Director

1.	STATUTORY INFORMATION

Bluecoat 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the provision of financial advisory services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the extent that the service has been provided.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten 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

-

Straight line over 4 years

Computer equipment

-

Straight line over 4 years

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss, 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 April 2020

300,000

AMORTISATION

At 1 May 2019

and 30 April 2020

300,000

NET BOOK VALUE

At 30 April 2020

-

At 30 April 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

31,503

Additions

5,764

Disposals

(194

)

At 30 April 2020

37,073

DEPRECIATION

At 1 May 2019

26,312

Charge for year

4,401

Eliminated on disposal

(97

)

At 30 April 2020

30,616

NET BOOK VALUE

At 30 April 2020

6,457

At 30 April 2019

5,191

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

5,511

82

Prepayments and accrued income

6,959

1,074

12,470

1,156

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,179

1,281

Corporation tax

17,098

15,991

Social security and other taxes

649

537

Other creditors

953

778

Pension creditor

1,266

752

Directors' current accounts

38

28

Accruals and deferred income

300

300

21,483

19,667

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2,000

Ordinary

£1

2,000

10

1

Ordinary A

£1

1

1

1

Ordinary B

£1

1

1

1

Ordinary C

£1

1

-

2,003

12

The following shares were issued during the year for cash at par :

1,990 Ordinary shares of £1

1 Ordinary C share of £1

9.	FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £110,200 (2019 - £nil).