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Unaudited Financial Statements For The Year Ended 30th June 2020 |
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Wealthspend Ltd |
Trading as |
Warners Financial Services |
REGISTERED NUMBER:
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Unaudited Financial Statements For The Year Ended 30th June 2020 |
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for |
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Wealthspend Ltd |
Trading as |
Warners Financial Services |
Wealthspend Ltd (Registered number: 02108373) |
Trading as Warners Financial Services |
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Contents of the Financial Statements |
For The Year Ended 30th June 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Wealthspend Ltd |
Trading as Warners Financial Services |
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Company Information |
For The Year Ended 30th June 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Union Building |
51-59 Rose Lane |
Norwich |
Norfolk |
NR1 1BY |
Wealthspend Ltd (Registered number: 02108373) |
Trading as Warners Financial Services |
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Balance Sheet |
30th June 2020 |
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30/6/20 | 30/6/19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Retained earnings |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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Wealthspend Ltd (Registered number: 02108373) |
Trading as Warners Financial Services |
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Notes to the Financial Statements |
For The Year Ended 30th June 2020 |
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1. | STATUTORY INFORMATION |
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Wealthspend Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
bringing stocks to their present location and condition. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Wealthspend Ltd (Registered number: 02108373) |
Trading as Warners Financial Services |
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Notes to the Financial Statements - continued |
For The Year Ended 30th June 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1st July 2019 |
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Additions |
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Revaluations |
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At 30th June 2020 |
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DEPRECIATION |
At 1st July 2019 |
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Charge for year |
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At 30th June 2020 |
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NET BOOK VALUE |
At 30th June 2020 |
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At 30th June 2019 |
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Cost or valuation at 30th June 2020 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2020 | 121,500 | - | 121,500 |
Cost | 150,266 | 7,066 | 157,332 |
271,766 | 7,066 | 278,832 |
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If Freehold land and buildings had not been revalued they would have been included at the following historical |
cost: |
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30/6/20 | 30/6/19 |
£ | £ |
Cost | 150,266 | - |
Aggregate depreciation | 89,598 | - |
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Value of land in freehold land and buildings | 60,668 | - |
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Freehold land and buildings were valued on an open market basis on 13th November 2020 by Warners Estate Agents |
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Wealthspend Ltd (Registered number: 02108373) |
Trading as Warners Financial Services |
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Notes to the Financial Statements - continued |
For The Year Ended 30th June 2020 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST OR VALUATION |
At 1st July 2019 |
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Additions | ( |
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Revaluations |
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At 30th June 2020 |
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NET BOOK VALUE |
At 30th June 2020 |
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At 30th June 2019 |
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Cost or valuation at 30th June 2020 is represented by: |
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Other |
investments |
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Valuation in 2011 | 308,085 |
Valuation in 2012 | 149,082 |
Valuation in 2013 | 22,636 |
Valuation in 2014 | (2,965 | ) |
Valuation in 2015 | (46,729 | ) |
Valuation in 2016 | 138,420 |
Valuation in 2017 | 46,038 |
Valuation in 2018 | (388,584 | ) |
Valuation in 2019 | 422,237 |
Valuation in 2020 | (118,991 | ) |
Cost | 220,000 |
749,229 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/20 | 30/6/19 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/20 | 30/6/19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | RESERVES |
Revaluation |
reserve |
£ |
No description | 121,500 |
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At 30th June 2020 |
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