North Star Wealth Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09150994 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2020

FOR

NORTH STAR WEALTH MANAGEMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

Miss R C Bedford

REGISTERED OFFICE:

2 Oakfield Road

Clifton

Bristol

BS8 2AL

REGISTERED NUMBER:

09150994 (England and Wales)

ACCOUNTANTS:

PJE Chartered Accountants

2 Oakfield Road

Clifton

Bristol

BS8 2AL

FIXED ASSETS

Tangible assets

4

1,426

2,697

CURRENT ASSETS

Debtors

5

31,367

1,216

Cash at bank

9,350

5,952

40,717

7,168

CREDITORS

Amounts falling due within one year

6

16,398

9,784

NET CURRENT ASSETS/(LIABILITIES)

24,319

(2,616

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,745

81

PROVISIONS FOR LIABILITIES

271

-

NET ASSETS

25,474

81

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

25,473

80

25,474

81

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 29 April 2021 and were signed by:

Miss R C Bedford - Director

1.	STATUTORY INFORMATION

North Star 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2019

and 31 July 2020

6,355

DEPRECIATION

At 1 August 2019

3,658

Charge for year

1,271

At 31 July 2020

4,929

NET BOOK VALUE

At 31 July 2020

1,426

At 31 July 2019

2,697

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Other debtors

31,367

1,216

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Taxation and social security

14,898

8,344

Other creditors

1,500

1,440

16,398

9,784

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2019 - £35,000) were paid to the director .

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss R C Bedford.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North Star Wealth Management Ltd for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of North Star Wealth Management Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North Star Wealth Management Ltd and state those matters that we have agreed to state to the director of North Star Wealth Management Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Star Wealth Management Ltd and its director for our work or for this report.

It is your duty to ensure that North Star Wealth Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of North Star Wealth Management Ltd. You consider that North Star Wealth Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of North Star Wealth Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

PJE Chartered Accountants

2 Oakfield Road

Clifton

Bristol

BS8 2AL

29 April 2021