Fraser Heath Financial Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04357058 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2017 to 28 February 2018

for

Fraser Heath Financial

Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Fletcher

A E Loomes

J R E Collier

REGISTERED OFFICE:

The Stables

Says Court Farm

Badminton Road, Frampton Cotterell

BRISTOL

BS36 2NY

REGISTERED NUMBER:

04357058 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

9,545

14,481

9,545

14,481

CURRENT ASSETS

Debtors

6

203,698

7,690

Cash at bank and in hand

379,572

487,747

583,270

495,437

CREDITORS

Amounts falling due within one year

7

309,120

134,480

NET CURRENT ASSETS

274,150

360,957

TOTAL ASSETS LESS CURRENT LIABILITIES

283,695

375,438

PROVISIONS FOR LIABILITIES

6,448

6,554

NET ASSETS

277,247

368,884

CAPITAL AND RESERVES

Called up share capital

2,200

2,200

Retained earnings

275,047

366,684

SHAREHOLDERS' FUNDS

277,247

368,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2018 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 1 November 2018 and were signed on its behalf by:

M A Fletcher - Director

J R E Collier - Director

1.	STATUTORY INFORMATION

Fraser Heath Financial 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 commissions and fees receivable, together with revenue earned but not billed in

accordance with the principles outlined under "Revenue recognition and work in progress".

Goodwill

Goodwill in connection with the acquisition of a business in 2002 is being amortised evenly over its estimated

useful life of 10 years. Other goodwill in connection with the purchase of other businesses in 2005 are written off

evenly over their estimated useful economic life of three 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.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on straight line basis

Taxation

Taxation for the period 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 period 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 period was 28 (2017 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 28 February 2018

70,012

AMORTISATION

At 1 April 2017

and 28 February 2018

70,012

NET BOOK VALUE

At 28 February 2018

-

At 31 March 2017

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2017

4,000

27,027

101,708

132,735

Additions

-

-

2,628

2,628

Disposals

(4,000

)

-

-

(4,000

)

At 28 February 2018

-

27,027

104,336

131,363

DEPRECIATION

At 1 April 2017

-

20,054

98,200

118,254

Charge for period

-

957

2,607

3,564

At 28 February 2018

-

21,011

100,807

121,818

NET BOOK VALUE

At 28 February 2018

-

6,016

3,529

9,545

At 31 March 2017

4,000

6,973

3,508

14,481

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

88,326

465

Directors' current accounts

99,011

7,225

Prepayments and accrued income

16,361

-

203,698

7,690

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

5,918

114

Taxation

52,446

64,907

Social security and other taxes

22,320

19,194

Other creditors

419

987

Accrued expenses

228,017

49,278

309,120

134,480

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2018

2017

£

£

Within one year

49,119

49,119

Between one and five years

129,929

179,047

179,048

228,166

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 28 February 2018 and the

year ended 31 March 2017:

2018

2017

£

£

J R E Collier

Balance outstanding at start of period

-

-

Amounts advanced

33,003

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

33,003

-

M A Fletcher

Balance outstanding at start of period

-

-

Amounts advanced

33,004

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

33,004

-

M A Fletcher

Balance outstanding at start of period

-

-

Amounts advanced

33,004

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

33,004

-

10.	POST BALANCE SHEET EVENTS

On 1st March 2018 100% of the company's share capital was purchased by 1825 Financial Planning Limited

11.	ULTIMATE CONTROLLING PARTY