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REGISTERED NUMBER: 07433037 (England and Wales)

















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

SAGE WEALTH MANAGEMENT LIMITED

SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAGE WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTOR: Mr. M J Sage



REGISTERED OFFICE: West Walk 5
Bowes Offices
Lambton Park
Chester Le Street
Co. Durham
DH3 4AN



REGISTERED NUMBER: 07433037 (England and Wales)



ACCOUNTANTS: Read, Milburn & Co
71 Howard Street
North Shields
Tyne and Wear
NE30 1AF



BANKERS: Lloyds Bank Plc
Newcastle upon Tyne

SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 338,644 416,830
Tangible assets 5 70,697 73,164
Investments 6 56,757 57,016
466,098 547,010

CURRENT ASSETS
Debtors 7 149,677 102,854
Cash at bank 239,635 243,496
389,312 346,350
CREDITORS
Amounts falling due within one year 8 259,299 204,251
NET CURRENT ASSETS 130,013 142,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

596,111

689,109

CREDITORS
Amounts falling due after more than one
year

9

(547,019

)

(669,962

)

PROVISIONS FOR LIABILITIES (8,452 ) (6,753 )
NET ASSETS 40,640 12,394

CAPITAL AND RESERVES
Called up share capital 10 10
Undistributable reserve 10 5,068 5,683
Retained earnings 35,562 6,701
SHAREHOLDERS' FUNDS 40,640 12,394

SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

BALANCE SHEET - continued
31 JANUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 October 2023 and were signed by:





Mr. M J Sage - Director


SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Sage Wealth Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest Pound (£).

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents commissions derived from the provision of financial services. Income is recognised when the services are provided to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses is being amortised evenly over an estimated useful life of eight 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

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.


SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022 1,456,021
Additions 67,485
At 31 January 2023 1,523,506
AMORTISATION
At 1 February 2022 1,039,191
Charge for year 145,671
At 31 January 2023 1,184,862
NET BOOK VALUE
At 31 January 2023 338,644
At 31 January 2022 416,830

SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 49,598 85,621 135,219
Additions - 5,730 5,730
At 31 January 2023 49,598 91,351 140,949
DEPRECIATION
At 1 February 2022 4,960 57,095 62,055
Charge for year 992 7,205 8,197
At 31 January 2023 5,952 64,300 70,252
NET BOOK VALUE
At 31 January 2023 43,646 27,051 70,697
At 31 January 2022 44,638 28,526 73,164

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2022 57,016
Revaluations (259 )
At 31 January 2023 56,757
NET BOOK VALUE
At 31 January 2023 56,757
At 31 January 2022 57,016

SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 January 2023 is represented by:

Other
investments
£   
Valuation in 2021 4,558
Valuation in 2022 2,458
Valuation in 2023 (259 )
Cost 50,000
56,757

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 50,000 50,000

Fixed asset investments were valued on an open market basis on 31 January 2023 by St James's Place Wealth Management .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 137,908 102,854
Other debtors 11,769 -
149,677 102,854

SAGE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 07433037)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 166,154 159,403
Trade creditors 4,166 393
Pension control - 1,417
Tax 66,106 33,698
Social security and other taxes 6,411 -
Other creditors 4,629 -
Directors' loan accounts 1,489 3,240
Accruals and deferred income 10,344 6,100
259,299 204,251

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 166,154 159,403
Other loans - 2-5 years 380,865 478,208
Other loans - > 5 years - 32,351
547,019 669,962

Amounts falling due in more than five years:

Repayable by instalments
Other loans - > 5 years - 32,351

10. RESERVES
Undistributa
reserve
£   
At 1 February 2022 5,683
Reserve transfer (615 )

At 31 January 2023 5,068

11. RELATED PARTY DISCLOSURES

The director who received dividends during the year was Mr. M J Sage.