Acquisition Wealth Management Limited - Accounts to registrar (filleted) - small 18.2

Acquisition Wealth Management Limited - Accounts to registrar (filleted) - small 18.2

ACQUISITION WEALTH MANAGEMENT LIMITED - Company Information

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REGISTERED NUMBER: 10607613 (England and Wales)















Unaudited Financial Statements

for the Period 8 February 2017 to 28 February 2018

for

Acquisition Wealth Management Limited
Acquisition Wealth Management Limited (Registered number: 10607613)






Contents of the Financial Statements
for the Period 8 February 2017 to 28 February 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Acquisition Wealth Management Limited

Company Information
for the Period 8 February 2017 to 28 February 2018







DIRECTORS: S Priestly
Mrs L M Priestly
K Hyland
Mrs L J Hyland





REGISTERED OFFICE: Oxford House
8 Church Street
Arnold
Nottingham
NG5 8FB





REGISTERED NUMBER: 10607613 (England and Wales)





ACCOUNTANTS: The Chartwell Practice Ltd
Chartwell House
4 St. Paul's Square
Burton-on-Trent
Staffordshire
DE14 2EF
Page 1
Acquisition Wealth Management Limited (Registered number: 10607613)

Balance Sheet
28 February 2018

Notes £    £   
FIXED ASSETS
Intangible assets 4 3,674,740
Tangible assets 5 36,706
Investments 6 110
3,711,556

CURRENT ASSETS
Debtors 7 82,933
Cash at bank 95,524
178,457
CREDITORS
Amounts falling due within one year 8 3,527,753
NET CURRENT LIABILITIES (3,349,296 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
362,260

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 362,160
362,260

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 notes form part of these financial statements

Page 2 continued...
Acquisition Wealth Management Limited (Registered number: 10607613)

Balance Sheet - continued
28 February 2018


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 29 January 2019 and were signed on its behalf by:




S Priestly - Director



K Hyland - Director


The notes form part of these financial statements

Page 3
Acquisition Wealth Management Limited (Registered number: 10607613)

Notes to the Financial Statements
for the Period 8 February 2017 to 28 February 2018

1. STATUTORY INFORMATION

Acquisition 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, 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.
Fixtures & Fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

Page 4 continued...
Acquisition Wealth Management Limited (Registered number: 10607613)

Notes to the Financial Statements - continued
for the Period 8 February 2017 to 28 February 2018

2. ACCOUNTING POLICIES - continued

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 period was 9 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Disposals (1,851 )
Reclassification/transfer 3,937,497
At 28 February 2018 3,935,646
AMORTISATION
Amortisation for period 260,906
At 28 February 2018 260,906
NET BOOK VALUE
At 28 February 2018 3,674,740

5. TANGIBLE FIXED ASSETS
Fixtures
& Fittings
£   
COST
Additions 41,726
At 28 February 2018 41,726
DEPRECIATION
Charge for period 5,020
At 28 February 2018 5,020
NET BOOK VALUE
At 28 February 2018 36,706

Page 5 continued...
Acquisition Wealth Management Limited (Registered number: 10607613)

Notes to the Financial Statements - continued
for the Period 8 February 2017 to 28 February 2018

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 4,802,068
Reclassification/transfer (3,937,497 )
At 28 February 2018 864,571
PROVISIONS

Impairments 864,461
At 28 February 2018 864,461
NET BOOK VALUE
At 28 February 2018 110

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 80,808
Inter company loan account - Priestly
Associates Ltd
2,125
82,933

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Tax 125,285
Inter company loan account -
Hyland Wealth Management Ltd 96,685
Directors' current accounts 3,304,002
Accrued expenses 1,781
3,527,753

Page 6