Midlands Wealth Management Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06758934 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2016

for

Midlands Wealth Management Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

S Brown

Mrs N Westcott-Brown

SECRETARY:

APL Accountants LLP

REGISTERED OFFICE:

Suite C1

Conway House

Ackhurst Park

Chorley

Lancashire

PR7 1NY

REGISTERED NUMBER:

06758934 (England and Wales)

ACCOUNTANTS:

APL Accountants LLP

Suite C1

Conway House

Ackhurst Park

Chorley

Lancashire

PR7 1NY

FIXED ASSETS

Intangible assets

2

342,172

361,182

Tangible assets

3

37,673

18,591

379,845

379,773

CURRENT ASSETS

Cash at bank

81,534

81,055

CREDITORS

Amounts falling due within one year

66,485

54,461

NET CURRENT ASSETS

15,049

26,594

TOTAL ASSETS LESS CURRENT
LIABILITIES

394,894

406,367

CREDITORS

Amounts falling due after more than
one year

4

309,661

346,241

NET ASSETS

85,233

60,126

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

85,231

60,124

SHAREHOLDERS' FUNDS

85,233

60,126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

S Brown - Director

Mrs N Westcott-Brown - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in

accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of twenty years.

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

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

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 the profit and loss account in the period to which

they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

380,192

AMORTISATION

At 1 December 2015

19,010

Amortisation for year

19,010

At 30 November 2016

38,020

NET BOOK VALUE

At 30 November 2016

342,172

At 30 November 2015

361,182

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

35,081

Additions

30,124

Disposals

(3,072

)

At 30 November 2016

62,133

DEPRECIATION

At 1 December 2015

16,490

Charge for year

10,550

Eliminated on disposal

(2,580

)

At 30 November 2016

24,460

NET BOOK VALUE

At 30 November 2016

37,673

At 30 November 2015

18,591

4.

CREDITORS

Creditors include the following debts falling due in more than five years:

30.11.16

30.11.15

£

Repayable by instalments

170,500

207,080

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.16

30.11.15

value:

£

2

Ordinary

1

2