Wishart Wealth Management Limited - Period Ending 2016-08-31

Registration number: SC324229

Wishart Wealth Management Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 August 2016
 

Beyond The Numbers Limited
Chartered Accountants
42 Charlotte Square
Edinburgh
EH2 4HQ

Wishart Wealth Management Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Wishart Wealth Management Limited
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wishart Wealth Management Limited for the year ended 31 August 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

We have carried out this engagment in accordance with best practice guidance issued by the Institute of Chartered Accountants of Scotland and have complied with its ethical and other professional requirements..

This report is made solely to the Board of Directors of Wishart Wealth Management Limited, as a body, in accordance with the terms of our engagement letter dated 1 September 2007. Our work has been undertaken solely to prepare for your approval the accounts of Wishart Wealth Management Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the Companies Act 2006.. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wishart Wealth Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Wishart Wealth Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wishart Wealth Management Limited. You consider that Wishart Wealth Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Wishart Wealth Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Beyond The Numbers Limited
Chartered Accountants
42 Charlotte Square
Edinburgh
EH2 4HQ

4 October 2016

Page 1

Wishart Wealth Management Limited
(Registration number: SC324229)
Abbreviated Balance Sheet at 31 August 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					4,586			5,911
Current assets
Debtors					18,679			13,676
Cash at bank and in hand					139,797			64,406
					158,476			78,082
Creditors: Amounts falling due within one year					(53,550)			(36,489)
Net current assets					104,926			41,593
Net assets					109,512			47,504
Capital and reserves
Called up share capital		3			150			1
Profit and loss account					109,362			47,503
Shareholders' funds					109,512			47,504

For the year ending 31 August 2016 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 4 October 2016 and signed on its behalf by:

.........................................
Iain Paterson Wishart
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Wishart Wealth Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Wishart Wealth Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 September 2015		29,675			29,675
Additions		988			988
At 31 August 2016		30,663			30,663
Depreciation
At 1 September 2015		23,764			23,764
Charge for the year		2,313			2,313
At 31 August 2016		26,077			26,077
Net book value
At 31 August 2016		4,586			4,586
At 31 August 2015		5,911			5,911

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A shares of £1 each		100			100			1			1
Ordinary B shares of £1 (2015 - £0.00) each		50			50			-			-
		150			150			1			1

New shares allotted

During the year 99 Ordinary A shares having an aggregate nominal value of £99 were allotted for an aggregate consideration of £99.

During the year 50 Ordinary B shares having an aggregate nominal value of £50 were allotted for an aggregate consideration of £50.

Page 4