Private Client & Wealth Management Connections Ltd - Period Ending 2022-03-31
Private Client & Wealth Management Connections Ltd - Period Ending 2022-03-31
Registration number:
Private Client & Wealth Management Connections Ltd
trading as
for the Period from 1 March 2021 to 31 March 2022
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Contents
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Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Company Information
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Director |
Mr Edward Charles Hicks |
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Registered office |
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Accountants |
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Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Director's Report for the Period from 1 March 2021 to 31 March 2022
The director presents his report and the financial statements for the period from 1 March 2021 to 31 March 2022.
Incorporation
The company was incorporated on
Director of the company
The director who held office during the period was as follows:
Principal activity
The principal activity of the company is selling sponsorship and marketing opportunities and research to the wealth management sector
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
for the Period Ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Private Client & Wealth Management Connections Ltd for the period ended 31 March 2022 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Private Client & Wealth Management Connections Ltd, as a body, in accordance with the terms of our engagement letter dated 21 January 2022. Our work has been undertaken solely to prepare for your approval the accounts of Private Client & Wealth Management Connections Ltd and state those matters that we have agreed to state to the Board of Directors of Private Client & Wealth Management Connections Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Private Client & Wealth Management Connections Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Private Client & Wealth Management Connections Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Private Client & Wealth Management Connections Ltd. You consider that Private Client & Wealth Management Connections Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Private Client & Wealth Management Connections 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 accounts.
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Mere
Wiltshire
BA12 6FG
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Profit and Loss Account for the Period from 1 March 2021 to 31 March 2022
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Note |
2022 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
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Operating profit |
110,331 |
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Profit before tax |
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Tax on profit |
( |
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Profit for the financial period |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Statement of Comprehensive Income for the Period from 1 March 2021 to 31 March 2022
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2022 |
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Profit for the period |
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Total comprehensive income for the period |
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Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
(Registration number: 13164503)
Balance Sheet as at 31 March 2022
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Note |
2022 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1 |
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Retained earnings |
49 |
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Shareholders' funds |
50 |
For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Statement of Changes in Equity for the Period from 1 March 2021 to 31 March 2022
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Share capital |
Retained earnings |
Total |
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Profit for the period |
- |
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Dividends |
- |
( |
( |
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New share capital subscribed |
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- |
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At 31 March 2022 |
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Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Notes to the Unaudited Financial Statements for the Period from 1 March 2021 to 31 March 2022
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Notes to the Unaudited Financial Statements for the Period from 1 March 2021 to 31 March 2022
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
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Debtors |
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Current |
2022 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Notes to the Unaudited Financial Statements for the Period from 1 March 2021 to 31 March 2022
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Creditors |
Creditors: amounts falling due within one year
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2022 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2022 |
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No. |
£ |
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1 |
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Dividends |
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2022 |
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£ |
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Interim dividend of £ |
89,132 |
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Related party transactions |
Private Client & Wealth Management Connections Ltd
trading as PCWM Connections
Notes to the Unaudited Financial Statements for the Period from 1 March 2021 to 31 March 2022
Director's remuneration
The director's remuneration for the period was as follows:
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2022 |
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Remuneration |
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