PRETORIUS_WEALTH_MANAGEME - Accounts

PRETORIUS WEALTH MANAGEMENT LIMITED - Company Information

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Company Registration No. 07207177 (England and Wales)

PRETORIUS WEALTH MANAGEMENT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2014

PRETORIUS WEALTH MANAGEMENT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

PRETORIUS WEALTH MANAGEMENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

394,483

514,346

Tangible assets

422

1,024

394,905

515,370

Current assets

Debtors

267,213

153,326

Cash at bank and in hand

100

267,313

153,426

Creditors: amounts falling due within one year

(173,626)

(136,850)

Net current assets

93,687

16,576

Total assets less current liabilities

488,592

531,946

Creditors: amounts falling due after more than one year

(481,214)

(512,760)

7,378

19,186

Capital and reserves

Called up share capital

200

Profit and loss account

7,178

18,986

Shareholders' funds

7,378

19,186

For the financial year ended 31 March 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 22 August 2014

Mr A Pretorius

Director

Company Registration No. 07207177

PRETORIUS WEALTH MANAGEMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services supplied.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

Straight line over 3 years

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2013

699,051

3,074

702,125

Additions

634

Disposals

(6,527)

At 31 March 2014

692,524

3,708

696,232

Depreciation

At 1 April 2013

184,705

2,050

186,755

Charge for the year

113,336

1,236

114,572

At 31 March 2014

298,041

3,286

301,327

Net book value

At 31 March 2014

394,483

422

394,905

At 31 March 2013

514,346

1,024

515,370

PRETORIUS WEALTH MANAGEMENT LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2014

- 3 -

Creditors: amounts falling due after more than one year

2014

2013

Analysis of loans repayable in more than five years

Total amounts repayable by instalments which are due in more than five years

105,480

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary "A" shares of £1 each

100

100 Ordinary "B" shares of £1 each

100

200

Related party relationships and transactions

Loans to directors

The following directors had loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

A Pretorius -

4.00

107,984

199,174

5,302

133,000

179,460

107,984

199,174

5,302

133,000

179,460