Company Registration No. 07816220 (England and Wales)
FIRST WEALTH MANAGEMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
FIRST WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
FIRST WEALTH MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,562
3,126
Current assets
Debtors
120,052
66,905
Cash at bank and in hand
545,611
337,081
665,663
403,986
Creditors: amounts falling due within one year
(628,904)
(301,322)
Net current assets
36,759
102,664
Total assets less current liabilities
38,321
105,790
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
38,221
105,690
Shareholders' funds
38,321
105,790
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her 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 17 June 2016
Mrs C Cohen
Director
Company Registration No. 07816220
FIRST WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 2 -
1
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) and United Kingdom Generally Accepted Accounting Practice for Smaller Entities.
1.2
Turnover
Turnover represents fees and commissions receivable for financial services and arrangement of commercial mortgages.
1.3
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:
Fixtures, fittings & equipment
25% per annum on a straight line basis
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015 & at 31 December 2015
6,254
Depreciation
At 1 January 2015
3,128
Charge for the year
1,564
At 31 December 2015
4,692
Net book value
At 31 December 2015
1,562
At 31 December 2014
3,126
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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