Company Registration No. 07816220 (England and Wales)
FIRST WEALTH MANAGEMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
FIRST WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
FIRST WEALTH MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,126
4,690
Current assets
Debtors
66,905
235,054
Cash at bank and in hand
337,081
392,532
403,986
627,586
Creditors: amounts falling due within one year
(301,322)
(531,457)
Net current assets
102,664
96,129
Total assets less current liabilities
105,790
100,819
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
105,690
100,719
Shareholders' funds
105,790
100,819
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 June 2015
Mrs C Cohen
Director
Company Registration No. 07816220
FIRST WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and United Kingdom Generally Accepted Accounting Practice for Smaller Entities.
1.2
Turnover
Turnover represents fees and commissions receivable for financial services and arrangement of commercial mortgages.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
25% per annum on a straight line basis
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014 & at 31 December 2014
6,254
Depreciation
At 1 January 2014
1,564
Charge for the year
1,564
At 31 December 2014
3,128
Net book value
At 31 December 2014
3,126
At 31 December 2013
4,690
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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