Hayes Wealth Management Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07115535 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Hayes Wealth Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Hayes

Mrs K Hayes

REGISTERED OFFICE:

3 Park Square

Leeds

LS1 2NE

REGISTERED NUMBER:

07115535 (England and Wales)

ACCOUNTANTS:

Sochall Smith Limited

Chartered Accountants

3 Park Square

Leeds

LS1 2NE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

9,898

1,064

9,898

1,064

CURRENT ASSETS

Debtors

6

125,849

8,002

Cash at bank

84,683

58,776

210,532

66,778

CREDITORS

Amounts falling due within one year

7

23,987

18,824

NET CURRENT ASSETS

186,545

47,954

TOTAL ASSETS LESS CURRENT LIABILITIES

196,443

49,018

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

196,343

48,918

SHAREHOLDERS' FUNDS

196,443

49,018

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 September 2017 and were signed on its behalf by:

S Hayes - Director

1.	STATUTORY INFORMATION

Hayes Wealth Management Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

229,916

Reduction

(121,670

)

At 31 December 2016

108,246

AMORTISATION

At 1 January 2016

229,916

Charge written back

(121,670

)

At 31 December 2016

108,246

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2016

-

2,678

2,678

Additions

8,510

1,225

9,735

At 31 December 2016

8,510

3,903

12,413

DEPRECIATION

At 1 January 2016

-

1,614

1,614

Charge for year

355

546

901

At 31 December 2016

355

2,160

2,515

NET BOOK VALUE

At 31 December 2016

8,155

1,743

9,898

At 31 December 2015

-

1,064

1,064

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

4,179

8,002

Directors' current accounts

121,670

-

125,849

8,002

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

14,129

10,820

Corporation tax

2,843

-

Social security and other taxes

2,635

3,624

Other creditors and accruals

4,380

4,380

23,987

18,824

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY