FS Wealth Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09601512 (England and Wales)

Financial Statements for the Year Ended 31 March 2021

for

FS Wealth Management Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

N J Buchan

S J Oliver

A D Parkes

REGISTERED OFFICE:

North Wood Place

Octagon Business Park

Little Plumstead

Norwich

Norfolk

NR13 5FH

REGISTERED NUMBER:

09601512 (England and Wales)

AUDITORS:

Cunninghams Statutory Auditors

Number Sixty One

Alexandra Road

Lowestoft

Suffolk

NR32 1PL

FIXED ASSETS

Tangible assets

4

7,034

8,674

CURRENT ASSETS

Debtors

5

103,261

97,346

Cash at bank

697,184

584,035

800,445

681,381

CREDITORS

Amounts falling due within one year

6

146,055

100,300

NET CURRENT ASSETS

654,390

581,081

TOTAL ASSETS LESS CURRENT LIABILITIES

661,424

589,755

PROVISIONS FOR LIABILITIES

1,336

1,648

NET ASSETS

660,088

588,107

CAPITAL AND RESERVES

Called up share capital

50,001

50,001

Retained earnings

610,087

538,106

660,088

588,107

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2021 and were signed on its behalf by:

N J Buchan - Director

1.	STATUTORY INFORMATION

FS 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.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance and 15% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2020

and 31 March 2021

14,222

DEPRECIATION

At 1 April 2020

5,548

Charge for year

1,640

At 31 March 2021

7,188

NET BOOK VALUE

At 31 March 2021

7,034

At 31 March 2020

8,674

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

79,112

75,898

Other debtors

24,149

21,448

103,261

97,346

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,301

6,889

Taxation and social security

139,012

89,269

Other creditors

4,742

4,142

146,055

100,300

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Benjamin Lynes (Senior Statutory Auditor)

for and on behalf of Cunninghams Statutory Auditors