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Company No: 11056935 (England and Wales)

ANDREW OLIVER WEALTH MANAGEMENT LTD

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

ANDREW OLIVER WEALTH MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

ANDREW OLIVER WEALTH MANAGEMENT LTD

BALANCE SHEET

As at 30 November 2023
ANDREW OLIVER WEALTH MANAGEMENT LTD

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 575,728 616,852
Tangible assets 4 4,496 6,765
580,224 623,617
Current assets
Debtors 5 34,052 33,175
Cash at bank and in hand 251,786 190,650
285,838 223,825
Creditors: amounts falling due within one year 6 ( 48,958) ( 53,809)
Net current assets 236,880 170,016
Total assets less current liabilities 817,104 793,633
Net assets 817,104 793,633
Capital and reserves
Called-up share capital 402,993 402,993
Profit and loss account 414,111 390,640
Total shareholders' funds 817,104 793,633

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Andrew Oliver Wealth Management Ltd (registered number: 11056935) were approved and authorised for issue by the Director on 08 February 2024. They were signed on its behalf by:

A D S Oliver
Director
ANDREW OLIVER WEALTH MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
ANDREW OLIVER WEALTH MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Andrew Oliver Wealth Management Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Anchorage Hungerford, Bursledon, Southampton, SO31 8DF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 2

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 December 2022 822,468 822,468
At 30 November 2023 822,468 822,468
Accumulated amortisation
At 01 December 2022 205,616 205,616
Charge for the financial year 41,124 41,124
At 30 November 2023 246,740 246,740
Net book value
At 30 November 2023 575,728 575,728
At 30 November 2022 616,852 616,852

4. Tangible assets

Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 December 2022 18,875 373 4,522 23,770
At 30 November 2023 18,875 373 4,522 23,770
Accumulated depreciation
At 01 December 2022 14,520 50 2,435 17,005
Charge for the financial year 1,089 81 1,099 2,269
At 30 November 2023 15,609 131 3,534 19,274
Net book value
At 30 November 2023 3,266 242 988 4,496
At 30 November 2022 4,355 323 2,087 6,765

5. Debtors

2023 2022
£ £
Trade debtors 30,174 32,570
Other debtors 3,878 605
34,052 33,175

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 46,654 47,007
Other creditors 2,304 6,802
48,958 53,809