ASSETONE_WEALTH_SYSTEM_LI - Accounts

ASSETONE WEALTH SYSTEM LIMITED - Company Information

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Company Registration No. 08824708 (England and Wales)

ASSETONE WEALTH SYSTEM LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

ASSETONE WEALTH SYSTEM LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ASSETONE WEALTH SYSTEM LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

658

Current assets

Debtors

4,587

51,519

Cash at bank and in hand

11,340

279,512

15,927

331,031

Creditors: amounts falling due within one year

(2,800)

(206,542)

Net current assets

13,127

124,489

Total assets less current liabilities

13,785

124,489

Creditors: amounts falling due after more than one year

(100,000)

13,785

24,489

Capital and reserves

Called up share capital

Profit and loss account

13,783

24,488

Shareholders' funds

13,785

24,489

For the financial year ended 31 March 2016 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 16 June 2016

Mr K K Tiong

Director

Company Registration No. 08824708

ASSETONE WEALTH SYSTEM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 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

Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts.

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:

Computer equipment

1.4

Going concern

During the year, the company made a loss of £13,545 (2014: profit of £24,488) and had net assets of £13,654 (2014: £24,489). These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company until this is required.

Fixed assets

Tangible assets

Cost

At 1 April 2015

Additions

822

At 31 March 2016

822

Depreciation

At 1 April 2015

Charge for the year

164

At 31 March 2016

164

Net book value

At 31 March 2016

658

ASSETONE WEALTH SYSTEM LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

During the period, 1 ordinary shares of £1 were issued and paid at par.