Company Registration No. 08898105 (England and Wales)
O'REILLY WEALTH MANAGEMENT LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
O'REILLY WEALTH MANAGEMENT LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
O'REILLY WEALTH MANAGEMENT LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
599,618
671,515
Tangible assets
2
5,903
7,379
605,521
678,894
Current assets
Stocks
95,816
34,849
Debtors
118,806
111,015
Cash at bank and in hand
8,946
44,843
223,568
190,707
Creditors: amounts falling due within one year
(569,222)
(512,721)
Net current liabilities
(345,654)
(322,014)
Total assets less current liabilities
259,867
356,880
Creditors: amounts falling due after more than one year
(248,507)
(347,008)
Provisions for liabilities
(1,039)
(1,037)
10,321
8,835
Capital and reserves
Called up share capital
3
200
200
Profit and loss account
10,121
8,635
Shareholders' funds
10,321
8,835
O'REILLY WEALTH MANAGEMENT LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 AUGUST 2016
31 August 2016
- 2 -
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 31 January 2017
Mr Lee Watson
Director
Company Registration No. 08898105
O'REILLY WEALTH MANAGEMENT LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
1
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 amounts receivable for services provided . provided
.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life. The company considers it appropriate to apply a 10% straight line basis of amortisation. The company considers it appropriate to apply a 10% straight line basis of amortisation.
1.5
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
20% Reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2015 & at 31 August 2016
718,968
8,717
727,685
Depreciation
At 1 September 2015
47,453
1,338
48,791
Charge for the year
71,897
1,476
73,373
At 31 August 2016
119,350
2,814
122,164
Net book value
At 31 August 2016
599,618
5,903
605,521
At 31 August 2015
671,515
7,379
678,894
O'REILLY WEALTH MANAGEMENT LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary A Shares of £1 each
100
100
100 Non Voting Ordinary B Shares of £1 each
100
100
200
200
4
Related party relationships and transactions
Directors loan
The Director has provided the company with working capital. As at 31st August 2016, and included within 'Creditors: amounts due within one year' is a loan from the Director amounting to £14,856 (2015: £57).
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