Company Registration No. 09137352 (England and Wales)
Solosy Wealth Management Ltd
Unaudited accounts
for the year ended 31 July 2022
Solosy Wealth Management Ltd
Unaudited accounts
Contents
Solosy Wealth Management Ltd
Company Information
for the year ended 31 July 2022
Directors
John Solosy
Rhianna Solosy
Company Number
09137352 (England and Wales)
Registered Office
USKELY COURT NEWPORT ROAD
ST. MELLONS
CARDIFF
CF3 2WJ
Accountants
Saccounts Limited
190 Cathedral Road
Cardiff
CF11 9JE
Solosy Wealth Management Ltd
Statement of financial position
as at 31 July 2022
Intangible assets
3,000
26,195
Cash at bank and in hand
65,234
74,617
Creditors: amounts falling due within one year
(37,843)
(74,577)
Net current assets
53,749
35,309
Total assets less current liabilities
56,861
61,730
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
56,740
61,587
Shareholders' funds
56,840
61,687
For the year ending 31 July 2022 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 9 January 2023 and were signed on its behalf by
John Solosy
Director
Company Registration No. 09137352
Solosy Wealth Management Ltd
Notes to the Accounts
for the year ended 31 July 2022
Solosy Wealth Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 09137352. The registered office is USKELY COURT NEWPORT ROAD, ST. MELLONS, CARDIFF, CF3 2WJ.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Intangible fixed assets - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated useful life of 5 years.
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:
Computer equipment
20% straight line
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Solosy Wealth Management Ltd
Notes to the Accounts
for the year ended 31 July 2022
4
Intangible fixed assets
Goodwill
Charge for the year
23,195
5
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Trade debtors
26,358
35,269
7
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
18,308
30,678
Loans from directors
18,593
42,565
Solosy Wealth Management Ltd
Notes to the Accounts
for the year ended 31 July 2022
8
Transactions with related parties
During the year, the directors used the company current account to record the amounts due to them and drawn by them. At the end of the year, that balance owed to the directors was £18,593 (2021: £42,565).
During the year, the company paid the directors dividends totalling £55,2000 (2021: £54,950).
9
Average number of employees
During the year the average number of employees was 1 (2021: 1).
