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REGISTERED NUMBER: 05436379 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Ryley Wealth Management Ltd

Ryley Wealth Management Ltd (Registered number: 05436379)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 10

Ryley Wealth Management Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D I Ryley
Mrs L Ryley





SECRETARY: Mrs L Ryley





REGISTERED OFFICE: c/o Charnwood Accountants
The Point, Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ





REGISTERED NUMBER: 05436379 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Ryley Wealth Management Ltd (Registered number: 05436379)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 2,252,826 2,811,160
Tangible assets 6 134,346 93,206
Investments 7 - 140
2,387,172 2,904,506

CURRENT ASSETS
Debtors 8 856,339 785,508
Investments 9 836,445 910,129
Cash at bank and in hand 498,133 650,061
2,190,917 2,345,698
CREDITORS
Amounts falling due within one year 10 890,387 1,421,484
NET CURRENT ASSETS 1,300,530 924,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,687,702

3,828,720

CREDITORS
Amounts falling due after more than one
year

11

(2,036,939

)

(2,167,355

)

PROVISIONS FOR LIABILITIES (133,133 ) (148,008 )
NET ASSETS 1,517,630 1,513,357

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,517,629 1,513,356
1,517,630 1,513,357

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

Ryley Wealth Management Ltd (Registered number: 05436379)

Balance Sheet - continued
31 December 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by:





D I Ryley - Director


Ryley Wealth Management Ltd (Registered number: 05436379)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ryley Wealth Management Ltd 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the notes below.

These policies have been consistently applied to all the years presented, unless otherwise stated.

Cashflow statement exemption
The company has availed of the exemption contained in Section 1A of FRS 102 and as a result has elected not to prepare a cash flow statement.

Preparation of consolidated financial statements
The financial statements contain information about Ryley Wealth Management Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Ryley Wealth Management Ltd (Registered number: 05436379)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its
performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty.

The following criteria must also be met before revenue is recognised:

Fees and commissions
Are receivable by the company for the sale of financial services products. Any fees are recognised in full on acceptance and inception of the policy by the product provider. Where the product provider retains the right to clawback of fees on an indemnity basis, revenue on the sale of these products is recognised net of a provision for the estimated clawback. Fee and commission income earned over the life of the policy is recognised as it is earned.

Services
Revenue and profit from services rendered is recognised as and when the service is provided.

Where revenue that has been recognised is found not to be recoverable due to a dispute with the client, these amounts are charged against the revenue recognised. Where non-recovery is as a result of inability of a client to meet its obligations, these amounts are charged to administrative expenses.

Goodwill
Goodwill and intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is fair value as at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortisation and any accumulated impairment losses. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets assessed as having finite lives are amortised over their useful economic life as follows;

Goodwill, being the amounts paid in connection with the acquisition of various businesses, is being amortised evenly over their estimated lives of five and eight years.

Intangible assets assessed as having finite lives are assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life is reviewed at least at each financial year end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortisation period or method, as appropriate, and treated as changes in accounting estimates. The amortisation expense on intangible assets with finite lives is recognised in the profit and loss account.

The company amortises individual client portfolios acquired through business combinations on a straight-line basis over an estimated useful life based on the company’s historic experience.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Costs includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Ryley Wealth Management Ltd (Registered number: 05436379)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. ACCOUNTING POLICIES - continued

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Other financial assets
Other financial assets include investments which are not investments in subsidiaries, associates or joint ventures. Investments are initially measured at fair value which usually equates to the transaction price and subsequently at fair value where investments are listed on an active market or where non listed investments can be reliably measured. Movements in fair value are measured in the profit and loss.
When fair value cannot be measured reliably or can no longer be measured reliably, investments are measured at cost less impairment.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 35 ) .

Ryley Wealth Management Ltd (Registered number: 05436379)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 7,817,021
Additions 22,237
At 31 December 2023 7,839,258
AMORTISATION
At 1 January 2023 5,005,861
Amortisation for year 580,571
At 31 December 2023 5,586,432
NET BOOK VALUE
At 31 December 2023 2,252,826
At 31 December 2022 2,811,160

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 300,010
Additions 80,556
At 31 December 2023 380,566
DEPRECIATION
At 1 January 2023 206,804
Charge for year 39,416
At 31 December 2023 246,220
NET BOOK VALUE
At 31 December 2023 134,346
At 31 December 2022 93,206

Ryley Wealth Management Ltd (Registered number: 05436379)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 34,498
At 31 December 2023 34,498
DEPRECIATION
Charge for year 7,187
At 31 December 2023 7,187
NET BOOK VALUE
At 31 December 2023 27,311

7. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 140
Impairments (140 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 140

8. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 307,310 272,143
Other debtors 535,266 496,202
842,576 768,345

Amounts falling due after more than one year:
Other debtors 13,763 17,163

Aggregate amounts 856,339 785,508

Ryley Wealth Management Ltd (Registered number: 05436379)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

9. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Listed investments 836,445 910,129

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 500,043 626,831
Hire purchase contracts 8,268 -
Trade creditors 31,837 26,716
Taxation and social security 257,049 238,419
Other creditors 93,190 529,518
890,387 1,421,484

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 2,018,335 2,167,355
Hire purchase contracts 18,604 -
2,036,939 2,167,355

12. PENSION COMMITMENTS

The company operates defined contribution pension schemes for the directors and employees. The company makes contributions to its pension schemes for employees and directors when required. The assets of the schemes are held separately from those of the company in an independently administered fund. At the balance sheet date, there were no unpaid contributions due to the schemes. Where amounts are owed these are included in other creditors.

13. OFF-BALANCE SHEET ARRANGEMENTS

The company has total commitments at the balance sheet date of £362,537.

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
D I Ryley and Mrs L Ryley
Balance outstanding at start of year (24,614 ) 5,660
Amounts advanced (22,279 ) (176,474 )
Amounts repaid 24,614 146,200
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (22,279 ) (24,614 )

Interest is charged on the balance owing at the year end at the HMRC official rate. The loan was repaid in full after the year end.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Ryley Wealth Management Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Ryley Wealth Management Ltd for the year ended 31 December 2023 which comprise the Profit and loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Ryley Wealth Management Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ryley Wealth Management Ltd and state those matters that we have agreed to state to the Board of Directors of Ryley Wealth Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Ryley Wealth Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Ryley Wealth Management Ltd. You consider that Ryley Wealth Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Ryley Wealth Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ


11 April 2024