C X Wealth Ltd 07861938 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of distribution of specialist financial products and funds Digita Accounts Production Advanced 6.30.9574.0 true true 07861938 2022-04-01 2023-03-31 07861938 2023-03-31 07861938 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 07861938 core:CurrentFinancialInstruments 2023-03-31 07861938 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 07861938 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 07861938 bus:SmallEntities 2022-04-01 2023-03-31 07861938 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07861938 bus:FullAccounts 2022-04-01 2023-03-31 07861938 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 07861938 bus:Director1 2022-04-01 2023-03-31 07861938 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07861938 core:ComputerEquipment 2022-04-01 2023-03-31 07861938 countries:EnglandWales 2022-04-01 2023-03-31 07861938 2021-04-01 2022-03-31 07861938 2022-03-31 07861938 core:CurrentFinancialInstruments 2022-03-31 07861938 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07861938 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 07861938

C X Wealth Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

C X Wealth Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

C X Wealth Ltd

(Registration number: 07861938)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

3

5,000

-

Current assets

 

Debtors

4

22,520,938

21,153,384

Cash at bank and in hand

 

62,346

554,064

 

22,583,284

21,707,448

Creditors: Amounts falling due within one year

5

(357,321)

(608,394)

Net current assets

 

22,225,963

21,099,054

Total assets less current liabilities

 

22,230,963

21,099,054

Creditors: Amounts falling due after more than one year

5

(20,305,066)

(19,790,982)

Net assets

 

1,925,897

1,308,072

Capital and reserves

 

Called up share capital

200

200

Retained earnings

1,925,697

1,307,872

Shareholders' funds

 

1,925,897

1,308,072

 

C X Wealth Ltd

(Registration number: 07861938)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 March 2024 and signed on its behalf by:
 

.........................................
Mr Christopher Lee Cauvain
Director

 

C X Wealth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial
Reporting Standard 102

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis. The company has on going service agreements and sufficient
finance arrangements to fulfil its activities.

Revenue recognition

Turnover represents fees chargeable and loan interest receivable.

Tax

Taxation for the year is recognised in the profit & loss account. The corporation tax charge is calculated on the basis of tax rates and
laws that apply in the countries where the company operates and generates taxable income.

Tangible assets

Depreciation is provided at the following annual rate in order to write off the costs less estimated residual value of each asset over its
estimated useful life.

Depreciation

Asset class

Depreciation method and rate

Computer equipment

40% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

C X Wealth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

5,000

5,000

At 31 March 2023

5,000

5,000

Impairment

Carrying amount

At 31 March 2023

5,000

5,000

4

Debtors

Current

2023
£

2022
£

Trade debtors

19,224,740

19,078,638

Prepayments

3,296,198

2,074,746

 

22,520,938

21,153,384

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

178,175

7,906

Trade creditors

179,146

392,117

Taxation and social security

-

173,754

Other creditors

-

34,617

357,321

608,394

 

C X Wealth Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

20,305,066

19,790,982