HGH_WEALTH_MANAGEMENT_LIM - Accounts

HGH WEALTH MANAGEMENT LIMITED - Company Information

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HGH WEALTH MANAGEMENT LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2016

COMPANY REGISTRATION NO. 03203520 (England and Wales)

HGH WEALTH MANAGEMENT LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HGH WEALTH MANAGEMENT LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

367

733

Current assets

Debtors

10,963

15,274

Cash at bank and in hand

31,807

30,016

42,770

45,290

Creditors: amounts falling due within one year

(21,424)

(18,275)

Net current assets

21,346

27,015

Total assets less current liabilities

21,713

27,748

Capital and reserves

Called up share capital

1,100

Profit and loss account

20,613

26,648

Shareholders' funds

21,713

27,748

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 12 December 2016

Mr N Everard

Director

Company Registration No. 03203520

HGH WEALTH MANAGEMENT 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 January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents fees and commissions receivable net of clawbacks due to the company, including commission earned on policies proposed and accepted on risk before the year end. Commissions received on an indemnity basis which are repaid to insurance companies following the cancellation of policies are written off in the year against profits.

1.4

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

33 1/3% staight line and 15% reducing balance

1.5

Pensions

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Fixed assets

Tangible assets

Cost

At 1 April 2015 & at 31 March 2016

5,050

Depreciation

At 1 April 2015

4,317

Charge for the year

366

At 31 March 2016

4,683

Net book value

At 31 March 2016

367

At 31 March 2015

733

HGH WEALTH MANAGEMENT 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

1,000 Ordinary "A" Shares of £1 each

1,000

100 Ordinary "B" Shares of £1 each

100

1,100

The 'A' shareholders are not entitled to any dividends or other participation on profits other than in a winding up. The 'B' shareholders are not entitled to receive notice of, attend or vote at any General Meeting of the company. In the event of a winding up of the company, the 'B' ordinary shareholders are entitled to the repayment of capital only and are not entitled to the distribution of any surplus reserves.