Watson Wealth Management Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 07633687 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2015

for

Watson Wealth Management Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D C Watson

SECRETARY:

M E Winston

REGISTERED OFFICE:

34 Thorpe Arch Park

Wetherby

West Yorkshire

LS23 7AN

REGISTERED NUMBER:

07633687 (England and Wales)

ACCOUNTANTS:

Paylings

Accountants

7 The Office Campus

Paragon Business Village

Red Hall Court

Wakefield

West Yorkshire

WF1 2UY

FIXED ASSETS

Intangible assets

2

962,131

1,021,637

Tangible assets

3

4,551

4,352

966,682

1,025,989

CURRENT ASSETS

Debtors

56,658

42,658

Cash at bank

46,167

14,719

102,825

57,377

CREDITORS

Amounts falling due within one year

229,629

207,445

NET CURRENT LIABILITIES

(126,804

)

(150,068

)

TOTAL ASSETS LESS CURRENT LIABILITIES

839,878

875,921

CREDITORS

Amounts falling due after more than one year

4

(416,829

)

(620,554

)

PROVISIONS FOR LIABILITIES

(537

)

(395

)

NET ASSETS

422,512

254,972

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

422,412

254,872

SHAREHOLDERS' FUNDS

422,512

254,972

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25 June 2015 and were signed by:

D C Watson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery etc

-

25% on cost and 15% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

1,190,106

AMORTISATION

At 1 April 2014

168,469

Amortisation for year

59,506

At 31 March 2015

227,975

NET BOOK VALUE

At 31 March 2015

962,131

At 31 March 2014

1,021,637

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

8,293

Additions

1,807

Disposals

(304

)

At 31 March 2015

9,796

DEPRECIATION

At 1 April 2014

3,941

Charge for year

1,440

Eliminated on disposal

(136

)

At 31 March 2015

5,245

NET BOOK VALUE

At 31 March 2015

4,551

At 31 March 2014

4,352

4.

CREDITORS

Creditors include an amount of £ 100,000 (2014 - £ 100,000 ) for which security has been given.

They also include the following debts falling due in more than five years:

2015

2014

£

£

Repayable otherwise than by instalments

-

100,000

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100

6.	RELATED PARTY DISCLOSURES