Jones Regan Wealth Management Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08954422 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

Jones Regan Wealth Management Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D Jones

M J Regan

Miss C L Giles

SECRETARY:

Miss C L Giles

REGISTERED OFFICE:

Bank House

Market Square

Congleton

Cheshire

CW12 1ET

REGISTERED NUMBER:

08954422 (England and Wales)

FIXED ASSETS

Intangible assets

4

2,320,218

1,202,942

Tangible assets

5

101,387

140,348

2,421,605

1,343,290

CURRENT ASSETS

Debtors

140,102

133,364

Cash at bank

19,793

5,553

159,895

138,917

CREDITORS

Amounts falling due within one year

666,938

404,735

NET CURRENT LIABILITIES

(507,043

)

(265,818

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,914,562

1,077,472

CREDITORS

Amounts falling due after more than one year

1,680,474

994,176

NET ASSETS

234,088

83,296

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

233,988

83,196

SHAREHOLDERS' FUNDS

234,088

83,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 11th December 2017 and were signed on its behalf by:

P D Jones - Director

M J Regan - Director

1.	STATUTORY INFORMATION

Jones Regan Wealth Management Ltd 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 is measured at the fair value of the consideration received or receivable and represents amounts

receivable for services rendered, stated net of discounts and of Value Added Tax.

Income is recognised when services have been delivered to customers such that risks and rewards of ownership

have transferred to them.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, bank loans and

directors loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans (being repayable on demand) and trade debtors are measured at the undiscounted amount of the

cash or other consideration expected to be paid or received.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 9 (2016 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

1,400,156

Additions

1,246,012

Disposals

(15,573

)

At 31st March 2017

2,630,595

AMORTISATION

At 1st April 2016

197,214

Amortisation for year

113,163

At 31st March 2017

310,377

NET BOOK VALUE

At 31st March 2017

2,320,218

At 31st March 2016

1,202,942

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2016

192,000

Additions

2,095

Disposals

(8,622

)

At 31st March 2017

185,473

DEPRECIATION

At 1st April 2016

51,652

Charge for year

32,434

At 31st March 2017

84,086

NET BOOK VALUE

At 31st March 2017

101,387

At 31st March 2016

140,348

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2017 and

31st March 2016:

31/3/17

31/3/16

£

£

M J Regan

Balance outstanding at start of year

33,877

-

Amounts repaid

(33,877

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

33,877

P D Jones

Balance outstanding at start of year

33,877

-

Amounts repaid

(33,877

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

33,877

7.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2015) as at 1st

April 2016.

Reconciliation of equity

No transitional adjustments were required.

Reconciliation of profit or loss for the year

No reconciliation of profit or loss were required