Circle Wealth Partners Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12860069 (England and Wales)

Financial Statements

for the Period

7 September 2020 to 31 December 2021

for

Circle Wealth Partners Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M D S Parker

K M Shaw

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

12860069 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Intangible assets

5

1,804,630

Property, plant and equipment

6

86,868

1,891,498

CURRENT ASSETS

Debtors

7

178,352

Cash at bank

478,915

657,267

CREDITORS

Amounts falling due within one year

8

(406,098

)

NET CURRENT ASSETS

251,169

TOTAL ASSETS LESS CURRENT LIABILITIES

2,142,667

CREDITORS

Amounts falling due after more than one year

9

(1,572,266

)

PROVISIONS FOR LIABILITIES

(16,505

)

NET ASSETS

553,896

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

553,796

SHAREHOLDERS' FUNDS

553,896

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 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 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 15 March 2022 and were signed on its behalf by:

K M Shaw - Director

M D S Parker - Director

1.	STATUTORY INFORMATION

Circle Wealth Partners 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Revenue 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 2021, is being amortised evenly over its estimated useful life of thirty five years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

Cost

Additions

1,857,707

At 31 December 2021

1,857,707

Amortisation

Charge for period

53,077

At 31 December 2021

53,077

Net book value

At 31 December 2021

1,804,630

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Cost

Additions

768

186,552

3,784

191,104

Disposals

-

(82,518

)

-

(82,518

)

At 31 December 2021

768

104,034

3,784

108,586

Depreciation

Charge for period

154

29,808

757

30,719

Eliminated on disposal

-

(9,001

)

-

(9,001

)

At 31 December 2021

154

20,807

757

21,718

Net book value

At 31 December 2021

614

83,227

3,027

86,868

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

83,525

Other debtors

94,827

178,352

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

145,999

Hire purchase contracts

4,421

Trade creditors

10,248

Taxation and social security

167,039

Other creditors

78,391

406,098

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,512,729

Hire purchase contracts

59,537

1,572,266

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

870,587