Company Registration No. 09560492 (England and Wales)
DAVID COATES WEALTH MANAGEMENT LIMITED
ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JULY 2016
DAVID COATES WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DAVID COATES WEALTH MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JULY 2016
31 July 2016
- 1 -
2016
Notes
£
£
Fixed assets
Intangible assets
2
118,961
Tangible assets
2
2,128
121,089
Current assets
Debtors
28,325
Cash at bank and in hand
56,770
85,095
Creditors: amounts falling due within one year
(24,622)
Net current assets
60,473
Total assets less current liabilities
181,562
Provisions for liabilities
(426)
181,136
Capital and reserves
Called up share capital
3
134,438
Profit and loss account
46,698
Shareholders' funds
181,136
For the financial period ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 9 January 2017
Mr DS Coates
Director
Company Registration No. 09560492
DAVID COATES WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 JULY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for services net of trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
20% straight line
Fixtures, fittings & equipment
15% straight line
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 24 April 2015
-
-
-
Additions
133,414
2,672
136,086
At 31 July 2016
133,414
2,672
136,086
Depreciation
At 24 April 2015
-
-
-
Charge for the period
14,453
544
14,997
At 31 July 2016
14,453
544
14,997
Net book value
At 31 July 2016
118,961
2,128
121,089
DAVID COATES WEALTH MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2016
- 3 -
3
Share capital
2016
£
Allotted, called up and fully paid
100 class 1 ordinary shares of £1 each
100
134,338 class 2 ordinary shares of £1 each
134,338
134,438
During the year
100
class 1
ordinary shares of £
1
each were allotted and fully paid at par for cash consideration
.
During the year 134,338 class 2 ordinary shares of £1 each were allotted and fully paid at par.
4
Related party relationships and transactions
Advances and credits granted to the directors during the period are outlined in the table below:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
DS Coates -
3.00
-
57,481
284
(40,000)
17,765
-
57,481
284
(40,000)
17,765
During the period the company operated a loan account with it's sole director and shareholder with cash drawn on account of future dividend declarations.