P.F.P.S. Wealth Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04444535 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

P.F.P.S. Wealth Management Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTOR:

Mr R A Kaye

SECRETARY:

Mr R A Kaye

REGISTERED OFFICE:

6 Well House Barns

Bretton

Chester

CH4 0DH

REGISTERED NUMBER:

04444535 (England and Wales)

ACCOUNTANTS:

V & R Accountancy Services

Chartered Certified Accountants

Cropton House

Three Tuns Lane

Formby

Merseyside

L37 4AQ

FIXED ASSETS

Intangible assets

4

224,708

263,703

Tangible assets

5

102,491

104,204

327,199

367,907

CURRENT ASSETS

Debtors

2,191,874

1,798,600

Investments

2,288,802

204,234

Cash at bank

662,262

417,577

5,142,938

2,420,411

CREDITORS

Amounts falling due within one year

666,260

353,093

NET CURRENT ASSETS

4,476,678

2,067,318

TOTAL ASSETS LESS CURRENT LIABILITIES

4,803,877

2,435,225

CREDITORS

Amounts falling due after more than one year

(2,603,604

)

(1,015,809

)

PROVISIONS FOR LIABILITIES

(2,605

)

(2,605

)

NET ASSETS

2,197,668

1,416,811

CAPITAL AND RESERVES

Called up share capital

105

105

Capital redemption reserve

30

30

Retained earnings

2,197,533

1,416,676

SHAREHOLDERS' FUNDS

2,197,668

1,416,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 November 2022 and were signed by:

Mr R A Kaye - Director

1.	STATUTORY INFORMATION

P.F.P.S. 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 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, 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.

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2020 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

and 31 December 2021

646,149

AMORTISATION

At 1 January 2021

382,446

Amortisation for year

38,995

At 31 December 2021

421,441

NET BOOK VALUE

At 31 December 2021

224,708

At 31 December 2020

263,703

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

183,368

Additions

2,998

At 31 December 2021

186,366

DEPRECIATION

At 1 January 2021

79,164

Charge for year

4,711

At 31 December 2021

83,875

NET BOOK VALUE

At 31 December 2021

102,491

At 31 December 2020

104,204

6.	RELATED PARTY DISCLOSURES

During the year, Mr R A Kaye, Company Director, provided finance to the Company to the amount of £129,971. At 31st December 2021, Mr R A Kaye was owed £129,971 by the Company.

Mr R A Kaye is a partner in the business WTK Property. At 31st December 2021, WTK Property owed £206,590 to the Company (2020 - £206,590).

Mr R A Kaye and Mrs N J Kaye are Directors in the Company PFPS Property Ltd. At 31st December 2021, PFPS Property Ltd owed £1,749,362 to the Company (2020 - £1,319,607).

No provisions are considered necessary in relation to related parties, and no amounts have been written off.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P.F.P.S. Wealth Management Ltd for the year ended 31 December 2021 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of P.F.P.S. Wealth Management Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of P.F.P.S. Wealth Management Ltd and state those matters that we have agreed to state to the director of P.F.P.S. Wealth Management Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that P.F.P.S. Wealth Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P.F.P.S. Wealth Management Ltd. You consider that P.F.P.S. Wealth Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of P.F.P.S. Wealth Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

V & R Accountancy Services

Chartered Certified Accountants

Cropton House

Three Tuns Lane

Formby

Merseyside

L37 4AQ

24 November 2022