REGISTERED NUMBER: 05105933 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2018

for

A & J Wealth Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G S Jones

J S S Posgate

G B Vald

SECRETARY:

Mrs L J Furnell

REGISTERED OFFICE:

Sawfords

Bigfrith Lane

Cookham Dean

Maidenhead

Berks.

SL6 9PH

REGISTERED NUMBER:

05105933 (England and Wales)

ACCOUNTANTS:

The Fish Partnership

The Mill House

Boundary Road

Loudwater

High Wycombe

Bucks.

HP10 9QN

FIXED ASSETS

Intangible assets

3

-

755,153

Tangible assets

4

809,961

790,165

Investments

5

991,388

991,387

1,801,349

2,536,705

CURRENT ASSETS

Debtors

6

759,135

145,204

Investments

7

1,067,301

44,792

Cash at bank and in hand

106

92,893

1,826,542

282,889

CREDITORS

Amounts falling due within one year

8

1,022,838

592,685

NET CURRENT ASSETS/(LIABILITIES)

803,704

(309,796

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,605,053

2,226,909

CREDITORS

Amounts falling due after more than one year

9

544,845

309,280

NET ASSETS

2,060,208

1,917,629

CAPITAL AND RESERVES

Called up share capital

16,233

17,493

Share premium

272,298

272,298

Capital redemption reserve

1,260

-

Retained earnings

1,770,417

1,627,838

SHAREHOLDERS' FUNDS

2,060,208

1,917,629

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 10 July 2018 and were signed on its behalf by:

G S Jones - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about A & J Wealth Management Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company

is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare

consolidated financial statements.

Changes in accounting policies

Current asset investments have previously been held at cost less provision for any permanent

diminution in value. However following the transition to FRS 102, the use of this method to value listed

investments has been disallowed. Therefore current asset investments, which comprises of listed

investments, are now held at fair value through the profit and loss.

Goodwill

Purchased goodwill is written off as it is paid for, or over the expected useful economic life of the asset,

whichever is shorter.

Goodwill and any other intangible assets acquired other than by purchase are written off over the

directors' estimate of the useful economic life of the assets.

Goodwill from the purchase of A & J Group Limited is being amortised evenly over its estimated useful

life of 12 years.

Goodwill from the purchase of Avos Limited is being amortised evenly over its estimated useful life of

20 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Client base are being amortised evenly over their estimated useful life of twelve 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

-

33% on cost and 25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, 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.

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.

Turnover

Turnover represents commission and fees receivable, net of claw backs and similar costs excluding

value added tax where appropriate.

Investments

Current asset investments are held at fair value, with any gains or losses recognised through the profit

and loss account.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2017 - 25 ) .

3.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2017

1,059,941

481,787

1,541,728

Disposals

(809,941

)

(481,787

)

(1,291,728

)

At 31 March 2018

250,000

-

250,000

AMORTISATION

At 1 April 2017

656,094

130,481

786,575

Charge for year

30,361

26,765

57,126

Eliminated on disposal

(436,455

)

(157,246

)

(593,701

)

At 31 March 2018

250,000

-

250,000

NET BOOK VALUE

At 31 March 2018

-

-

-

At 31 March 2017

403,847

351,306

755,153

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

765,349

277,663

1,043,012

Additions

-

55,293

55,293

At 31 March 2018

765,349

332,956

1,098,305

DEPRECIATION

At 1 April 2017

-

252,847

252,847

Charge for year

-

35,497

35,497

At 31 March 2018

-

288,344

288,344

NET BOOK VALUE

At 31 March 2018

765,349

44,612

809,961

At 31 March 2017

765,349

24,816

790,165

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 1 April 2017

991,387

-

991,387

Additions

-

1

1

At 31 March 2018

991,387

1

991,388

NET BOOK VALUE

At 31 March 2018

991,387

1

991,388

At 31 March 2017

991,387

-

991,387

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

44,744

122,166

Other debtors

714,391

23,038

759,135

145,204

7.	CURRENT ASSET INVESTMENTS

2018

2017

£

£

Listed investments

1,067,301

44,792

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

195,231

32,737

Hire purchase contracts

42,403

6,465

Trade creditors

30,415

9,120

Amounts owed to group undertakings

3,000

136,500

Taxation and social security

222,551

190,524

Other creditors

529,238

217,339

1,022,838

592,685

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

544,845

266,877

Hire purchase contracts

-

42,403

544,845

309,280

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

300,429

128,489

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

604,378

299,614

The bank loan is secured on the company's freehold property and by debenture.

11.	OTHER FINANCIAL COMMITMENTS

At 31 March 2018, the company had total commitments under non-cancellable operating leases over

the remaining life of those leases of £112,193 (2017: £90,511).