Glennan Wealth Management Holdings Limited Filleted accounts for Companies House (small and micro)

Glennan Wealth Management Holdings Limited Filleted accounts for Companies House (small and micro)

GLENNAN WEALTH MANAGEMENT HOLDINGS LIMITED - Company Information

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0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 375,500 10,715 386,215 37,550 38,740 76,290 309,925 337,950 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 13524510 2022-03-01 2023-02-28 13524510 2023-02-28 13524510 2022-02-28 13524510 2021-03-01 2022-02-28 13524510 2022-02-28 13524510 core:NetGoodwill 2022-03-01 2023-02-28 13524510 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 13524510 bus:OrdinaryShareClass2 2022-03-01 2023-02-28 13524510 bus:Director1 2022-03-01 2023-02-28 13524510 bus:Director2 2022-03-01 2023-02-28 13524510 core:NetGoodwill 2022-02-28 13524510 core:NetGoodwill 2023-02-28 13524510 core:WithinOneYear 2023-02-28 13524510 core:WithinOneYear 2022-02-28 13524510 core:AfterOneYear 2023-02-28 13524510 core:AfterOneYear 2022-02-28 13524510 core:ShareCapital 2023-02-28 13524510 core:ShareCapital 2022-02-28 13524510 core:NetGoodwill 2022-02-28 13524510 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 13524510 core:Non-currentFinancialInstruments 2023-02-28 13524510 core:Non-currentFinancialInstruments 2022-02-28 13524510 bus:SmallEntities 2022-03-01 2023-02-28 13524510 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13524510 bus:FullAccounts 2022-03-01 2023-02-28 13524510 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 13524510 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13524510 bus:OrdinaryShareClass1 2023-02-28 13524510 bus:OrdinaryShareClass1 2022-02-28 13524510 bus:OrdinaryShareClass2 2023-02-28 13524510 bus:OrdinaryShareClass2 2022-02-28 13524510 bus:AllOrdinaryShares 2023-02-28 13524510 bus:AllOrdinaryShares 2022-02-28 13524510 1 2023-02-28 13524510 1 2022-02-28 13524510 core:AfterOneYear 2022-03-01 2023-02-28 13524510 1 2022-03-01 2023-02-28
COMPANY REGISTRATION NUMBER: 13524510
GLENNAN WEALTH MANAGEMENT HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
GLENNAN WEALTH MANAGEMENT HOLDINGS LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
GLENNAN WEALTH MANAGEMENT HOLDINGS LIMITED
BALANCE SHEET
28 February 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
4
309,925
337,950
Investments
5
100
100
------------
------------
310,025
338,050
Current assets
Debtors
6
86,195
84,121
Creditors: amounts falling due within one year
7
( 176,093)
( 279,708)
------------
------------
Net current liabilities
( 89,898)
( 195,587)
------------
------------
Total assets less current liabilities
220,127
142,463
Creditors: amounts falling due after more than one year
8
( 219,927)
( 142,263)
------------
------------
Net assets
200
200
------------
------------
Capital and reserves
Called up share capital
9
200
200
------------
------------
Shareholders funds
200
200
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 28 February 2023 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 financial statements were approved by the board of directors and authorised for issue on 14 June 2023 , and are signed on behalf of the board by:
Mr L Glennan
Mrs R Glennan
Director
Director
Company registration number: 13524510
GLENNAN WEALTH MANAGEMENT HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 28 FEBRUARY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Intangible assets
Goodwill
£
Cost
At 1 March 2022
375,500
Additions
10,715
------------
At 28 February 2023
386,215
------------
Amortisation
At 1 March 2022
37,550
Charge for the year
38,740
------------
At 28 February 2023
76,290
------------
Carrying amount
At 28 February 2023
309,925
------------
At 28 February 2022
337,950
------------
5. Investments
Shares in participating interests
£
Cost
At 1 March 2022 and 28 February 2023
100
------------
Impairment
At 1 March 2022 and 28 February 2023
–
------------
Carrying amount
At 28 February 2023
100
------------
At 28 February 2022
100
------------
The company owns the whole of the issued share capital of Glennan Wealth Management Limited.
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings
86,095
84,021
Unpaid share capital
100
100
------------
------------
86,195
84,121
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Other loans
52,093
31,708
Other creditors
124,000
248,000
------------
------------
176,093
279,708
------------
------------
The other loans are secured by a fixed and floating charge over all the property or undertaking of the company
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other loans
219,927
142,263
------------
------------
The other loans are secured by a fixed and floating charge over all the property or undertaking of the company.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
102
102
102
102
Ordinary B shares of £ 1 each
98
98
98
98
------------
------------
------------
------------
200
200
200
200
------------
------------
------------
------------
10. Controlling party
The company is controlled by L C Glennan.