Harrogate Wealth Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09965163 (England and Wales)

Harrogate Wealth Management Limited

Financial Statements

for the Year Ended 31 March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L N Hurst

Mr R A Zoing

SECRETARY:

Mr L N Hurst

REGISTERED OFFICE:

Windsor House

Cornwall Road

Harrogate

North Yorkshire

HG1 2PW

REGISTERED NUMBER:

09965163 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Tangible assets

4

15,374

17,060

CURRENT ASSETS

Debtors

5

9,432

14,019

Cash at bank and in hand

130,890

50,548

140,322

64,567

CREDITORS

Amounts falling due within one year

6

63,941

68,436

NET CURRENT ASSETS/(LIABILITIES)

76,381

(3,869

)

TOTAL ASSETS LESS CURRENT LIABILITIES

91,755

13,191

CREDITORS

Amounts falling due after more than one year

7

(43,334

)

-

PROVISIONS FOR LIABILITIES

(2,921

)

(3,241

)

NET ASSETS

45,500

9,950

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

45,400

9,850

SHAREHOLDERS' FUNDS

45,500

9,950

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2021 and were signed on its behalf by:

Mr L N Hurst - Director

1.	STATUTORY INFORMATION

Harrogate Wealth Management Limited 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.

The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless other wise stated.

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 represents commission and fees receivable at the inception date of the policy. Alterations in commission arising from premium adjustments are taken into account as and when such adjustments are notified.

Tangible fixed assets

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

Office equipment

-

25% on reducing balance

Fixed assets are initially recorded at cost.

Government grants

Grants receivable in relation to revenue expenditure are credited to profit and loss in the period to which they relate.

Grants receivable for the purpose of immediate financial support with regards to the Covid-19 pandemic, where there are no further related costs, are recognised in income in the period in which they are receivable.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Information" and Section 12 "Other Financial Issues" of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instruments.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

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

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 6 (2020 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2020

32,310

Additions

1,332

At 31 March 2021

33,642

DEPRECIATION

At 1 April 2020

15,250

Charge for year

3,018

At 31 March 2021

18,268

NET BOOK VALUE

At 31 March 2021

15,374

At 31 March 2020

17,060

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

VAT

657

-

Prepayments and accrued income

8,775

14,019

9,432

14,019

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

6,667

-

Trade creditors

8,838

19,009

Tax

42,835

27,914

Social security and other taxes

2,753

3,157

VAT

-

9

Other creditors

-

2,097

Directors' current accounts

-

12,000

Accruals and deferred income

2,848

4,250

63,941

68,436

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 1-2 years

10,000

-

Bank loans - 2-5 years

30,000

-

Bank loans after 5 years

3,334

-

43,334

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans after 5 years

3,334

-

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2021

2020

£

£

Within one year

20,637

20,040

Between one and five years

12,038

31,975

32,675

52,015

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

40

Ordinary A

£1

40

40

40

Ordinary B

£1

40

40

10

Ordinary C

£1

10

10

10

Ordinary D

£1

10

10

100

100

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2021 and 31 March 2020:

2021

2020

£

£

Mr L N Hurst

Balance outstanding at start of year

-

2,500

Amounts repaid

-

(2,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr R A Zoing

Balance outstanding at start of year

-

2,500

Amounts repaid

-

(2,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £92,411 (2020 - £82,744) were paid to the directors .