Abbreviated Company Accounts - KINGSWOOD TAXATION AND WEALTH MANAGEMENT LTD

KINGSWOOD TAXATION AND WEALTH MANAGEMENT LTD - Company Information

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Registered Number 04748343

KINGSWOOD TAXATION AND WEALTH MANAGEMENT LTD

Abbreviated Accounts

31 July 2015

KINGSWOOD TAXATION AND WEALTH MANAGEMENT LTD Registered Number 04748343

Abbreviated Balance Sheet as at 31 July 2015

	Notes	2015	2014
		£	£
Fixed assets
Intangible assets	2	352,921	413,421
Tangible assets	3	44,191	35,394
		397,112	448,815
Current assets
Debtors		838,855	799,295
Cash at bank and in hand		1	12
		838,856	799,307
Creditors: amounts falling due within one year		(507,772)	(598,553)
Net current assets (liabilities)		331,084	200,754
Total assets less current liabilities		728,196	649,569
Creditors: amounts falling due after more than one year		(39,264)	(51,702)
Total net assets (liabilities)		688,932	597,867
Capital and reserves
Called up share capital	4	1,084	1,084
Share premium account		82,419	82,419
Profit and loss account		605,429	514,364
Shareholders' funds		688,932	597,867

For the year ending 31 July 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 July 2016

And signed on their behalf by:
K Kingswood, Director

KINGSWOOD TAXATION AND WEALTH MANAGEMENT LTD Registered Number 04748343

Notes to the Abbreviated Accounts for the period ended 31 July 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents commissions receivable less clawbacks payable during the period.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful like of that asset as follows:
Leasehold property improvements - 5% straight line
Fixtures & fittings - 33% straight line
Motor Vehicles - 25% reducing balance

Intangible assets amortisation policy
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful like of that asset as follows:
Goodwill - 20years straight line

2Intangible fixed assets

	£
Cost
At 1 August 2014	1,370,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2015	1,370,000
Amortisation
At 1 August 2014	956,579
Charge for the year	60,500
On disposals	-
At 31 July 2015	1,017,079
Net book values
At 31 July 2015	352,921
At 31 July 2014	413,421

3Tangible fixed assets

	£
Cost
At 1 August 2014	187,464
Additions	44,422
Disposals	(22,341)
Revaluations	-
Transfers	-
At 31 July 2015	209,545
Depreciation
At 1 August 2014	152,070
Charge for the year	24,815
On disposals	(11,531)
At 31 July 2015	165,354
Net book values
At 31 July 2015	44,191
At 31 July 2014	35,394

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1,081 Ordinary shares of £1 each	1,081	1,081
3 A Ordinary shares of £1 each	3	3

5Transactions with directors

Name of director receiving advance or credit:	Mr K Kingswood
Description of the transaction:	Directors Loan Account
Balance at 1 August 2014:	£ 574,525
Advances or credits made:	£ 6,384
Advances or credits repaid:	-
Balance at 31 July 2015:	£ 580,909

Name of director receiving advance or credit:	Mr P Richmond
Description of the transaction:	Directors Loan Account
Balance at 1 August 2014:	£ 31,698
Advances or credits made:	£ 20,500
Advances or credits repaid:	-
Balance at 31 July 2015:	£ 52,198