Abbreviated Company Accounts - MICHAEL SMITH WEALTH MANAGEMENT LIMITED

MICHAEL SMITH WEALTH MANAGEMENT LIMITED - Company Information

08649059 MICHAEL SMITH WEALTH MANAGEMENT LIMITED 2016-04-30 false 2015-05-01 2016-04-30 true 08649059 2015-05-01 2016-04-30 08649059 2016-04-30 08649059 2015-04-30 08649059 uk-gaap-cd-bus:Director1 2015-05-01 2016-04-30 08649059 uk-gaap-cd-bus:Director2 2015-05-01 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-01 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-30 iso4217:GBP shares

Registered Number 08649059

MICHAEL SMITH WEALTH MANAGEMENT LIMITED

Abbreviated Accounts

30 April 2016

MICHAEL SMITH WEALTH MANAGEMENT LIMITED Registered Number 08649059

Abbreviated Balance Sheet as at 30 April 2016

	Notes	2016	2015
		£	£
Fixed assets
Intangible assets	2	501,901	563,499
Tangible assets	3	7,665	1,724
		509,566	565,223
Current assets
Debtors		50,981	14,338
Cash at bank and in hand		1,475	4,596
		52,456	18,934
Creditors: amounts falling due within one year		(189,874)	(153,515)
Net current assets (liabilities)		(137,418)	(134,581)
Total assets less current liabilities		372,148	430,642
Creditors: amounts falling due after more than one year		(284,478)	(384,019)
Total net assets (liabilities)		87,670	46,623
Capital and reserves
Called up share capital	4	100	100
Profit and loss account		87,570	46,523
Shareholders' funds		87,670	46,623

For the year ending 30 April 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 31 January 2017

And signed on their behalf by:
M A Smith, Director

MICHAEL SMITH WEALTH MANAGEMENT LIMITED Registered Number 08649059

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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).

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

Tangible assets depreciation policy
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:- 25% Straight line basis
Fixtures, fittings & equipment:- 15% Straight line basis

Intangible assets amortisation policy
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

2Intangible fixed assets

	£
Cost
At 1 May 2015	626,110
Additions	1,520
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2016	627,630
Amortisation
At 1 May 2015	62,611
Charge for the year	63,118
On disposals	-
At 30 April 2016	125,729
Net book values
At 30 April 2016	501,901
At 30 April 2015	563,499

3Tangible fixed assets

	£
Cost
At 1 May 2015	2,214
Additions	7,789
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2016	10,003
Depreciation
At 1 May 2015	490
Charge for the year	1,848
On disposals	-
At 30 April 2016	2,338
Net book values
At 30 April 2016	7,665
At 30 April 2015	1,724

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

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100