PEARSON WEALTH MANAGEMENT LTD

PEARSON WEALTH MANAGEMENT LTD

PEARSON WEALTH MANAGEMENT LTD - Company Information

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1 August 2019 false No description of principal activity Taxfiler 2020.14.5 11533720business:PrivateLimitedCompanyLtd2019-08-012020-07-31 115337202019-07-31 115337202019-08-012020-07-31 11533720business:AuditExemptWithAccountantsReport2019-08-012020-07-31 11533720business:FullAccounts2019-08-012020-07-31 115337202020-07-31 11533720business:Director12019-08-012020-07-31 11533720business:Director22019-08-012020-07-31 11533720business:RegisteredOffice2019-08-012020-07-31 115337202019-07-31 11533720core:WithinOneYear2020-07-31 11533720core:WithinOneYear2019-07-31 11533720core:AfterOneYear2020-07-31 11533720core:AfterOneYear2019-07-31 11533720core:ShareCapital2020-07-31 11533720core:ShareCapital2019-07-31 11533720core:RetainedEarningsAccumulatedLosses2020-07-31 11533720core:RetainedEarningsAccumulatedLosses2019-07-31 11533720business:SmallEntities2019-08-012020-07-31 11533720countries:EnglandWales2019-08-012020-07-31 11533720core:MotorVehicles2019-08-012020-07-31 11533720core:FurnitureFittings2019-08-012020-07-31 11533720core:ComputerEquipment2019-08-012020-07-31 11533720core:MotorVehicles2019-07-31 11533720core:FurnitureFittings2019-07-31 11533720core:ComputerEquipment2019-07-31 11533720core:MotorVehicles2020-07-31 11533720core:FurnitureFittings2020-07-31 11533720core:ComputerEquipment2020-07-31 115337202018-08-232019-07-31 iso4217:GBP xbrli:pure
Company Registration No. 11533720 (England and Wales)
PEARSON WEALTH MANAGEMENT LTD Unaudited accounts for the year ended 31 July 2020
PEARSON WEALTH MANAGEMENT LTD Unaudited accounts Contents
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PEARSON WEALTH MANAGEMENT LTD Company Information for the year ended 31 July 2020
Directors
Adrian John Keith Suzanne Pyne
Company Number
11533720 (England and Wales)
Registered Office
11 JUDITH AVENUE KNODISHALL SAXMUNDHAM SUFFOLK IP17 1UY UNITED KINGDOM
Accountants
MBS Accountancy Services Ltd Garden House, 11 Judith Avenue Knodishall SAXMUNDHAM Suffolk IP17 1UY
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PEARSON WEALTH MANAGEMENT LTD Accountants' report
Accountants' report to the board of directors of PEARSON WEALTH MANAGEMENT LTD (the company)
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 July 2020.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give "a true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for the year ended 31 July 2020. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
MBS Accountancy Services Ltd Garden House, 11 Judith Avenue Knodishall SAXMUNDHAM Suffolk IP17 1UY 15 December 2020
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PEARSON WEALTH MANAGEMENT LTD Statement of financial position as at 31 July 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
119,415 
84,267 
Current assets
Debtors
5
31,254 
(18,964)
Cash at bank and in hand
41,803 
35,001 
73,057 
16,037 
Creditors: amounts falling due within one year
6
(89,260)
(25,045)
Net current liabilities
(16,203)
(9,008)
Total assets less current liabilities
103,212 
75,259 
Creditors: amounts falling due after more than one year
7
(97,725)
(75,237)
Net assets
5,487 
22 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
5,485 
20 
Shareholders' funds
5,487 
22 
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2020 and were signed on its behalf by
Adrian John Keith Director Company Registration No. 11533720
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PEARSON WEALTH MANAGEMENT LTD Notes to the Accounts for the year ended 31 July 2020
1
Statutory information
PEARSON WEALTH MANAGEMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 11533720. The registered office is 11 JUDITH AVENUE, KNODISHALL, SAXMUNDHAM, SUFFOLK, IP17 1UY, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on reducing balance
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 August 2019
125,040 
2,109 
54,559 
181,708 
Additions
129,478 
- 
1,518 
130,996 
Disposals
(125,040)
- 
- 
(125,040)
At 31 July 2020
129,478 
2,109 
56,077 
187,664 
Depreciation
At 1 August 2019
62,770 
527 
34,144 
97,441 
Charge for the year
32,370 
527 
681 
33,578 
On disposals
(62,770)
- 
- 
(62,770)
At 31 July 2020
32,370 
1,054 
34,825 
68,249 
Net book value
At 31 July 2020
97,108 
1,055 
21,252 
119,415 
At 31 July 2019
62,270 
1,582 
20,415 
84,267 
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PEARSON WEALTH MANAGEMENT LTD Notes to the Accounts for the year ended 31 July 2020
5
Debtors
2020 
2019 
£ 
£ 
Trade debtors
20,482 
- 
Amounts due from group undertakings etc.
10,292 
(19,444)
Other debtors
480 
480 
31,254 
(18,964)
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Obligations under finance leases and hire purchase contracts
8,899 
- 
Taxes and social security
30,783 
23,496 
Other creditors
14 
(223)
Loans from directors
47,357 
(453)
Accruals
2,207 
2,225 
89,260 
25,045 
7
Creditors: amounts falling due after more than one year
2020 
2019 
£ 
£ 
Bank loans
50,000 
- 
Obligations under finance leases and hire purchase contracts
47,725 
75,237 
97,725 
75,237 
8
Controlling party
Bohannan Holdings Ltd Tuddenham Hall Estate Office Tuddenham Hall Tuddenham IPSWICH IP6 9DD
9
Average number of employees
During the year the average number of employees was 17 (2019: 14).
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