Company Registration No. 03800907 (England and Wales)
WILDWOOD WEALTH MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
PAGES FOR FILING WITH REGISTRAR
WILDWOOD WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
WILDWOOD WEALTH MANAGEMENT LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2021
28 February 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
540
921
Current assets
Debtors
4
5,466
8,176
Cash at bank and in hand
367,930
371,193
373,396
379,369
Creditors: amounts falling due within one year
5
(53,957)
(78,414)
Net current assets
319,439
300,955
Total assets less current liabilities
319,979
301,876
Capital and reserves
Called up share capital
8
8
Capital redemption reserve
6
6
Profit and loss reserves
319,965
301,862
Total equity
319,979
301,876
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 29 March 2021
I C Holyoake
Director
Company Registration No. 03800907
WILDWOOD WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 2 -
1
Accounting policies
Company information
Wildwood Wealth Management Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
4 Wildgoose Drive, Horsham, West Sussex, United Kingdom, RH12 1TU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% on written down value
Computer equipment
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
WILDWOOD WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
The company
applies
the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price
.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price
.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities
.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense
.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
2
2
WILDWOOD WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2021
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2020
3,258
Additions
374
At 28 February 2021
3,632
Depreciation and impairment
At 1 March 2020
2,337
Depreciation charged in the year
755
At 28 February 2021
3,092
Carrying amount
At 28 February 2021
540
At 29 February 2020
921
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
2,726
5,356
Amounts owed by group undertakings
800
800
Other debtors
1,940
2,020
5,466
8,176
5
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
51,384
75,244
Other taxation and social security
417
846
Other creditors
2,156
2,324
53,957
78,414
6
Parent company
The company is a wholly owned subsidiary of
Horsham Green Limited
, a company incorporated in England and Wales. The financial statements for Horsham Green Limited can be obtained from their registered office which is 4 Wildgoose Drive, Horsham, West Sussex, United Kingdom, RH12 1TU.