CASTELL WEALTH MANAGEMENT LTD

Company Registration Number:
11639376 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2023

Period of accounts

Start date: 01 November 2022

End date: 31 October 2023

CASTELL WEALTH MANAGEMENT LTD

Contents of the Financial Statements

for the Period Ended 31 October 2023

Balance sheet
Notes

CASTELL WEALTH MANAGEMENT LTD

Balance sheet

As at 31 October 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 1,580,804 1,607,941
Tangible assets: 4 11,097 13,198
Total fixed assets: 1,591,901 1,621,139
Current assets
Debtors:   205,234 264,989
Cash at bank and in hand: 235,699
Total current assets: 440,933 264,989
Creditors: amounts falling due within one year:   (166,382) (313,830)
Net current assets (liabilities): 274,551 (48,841)
Total assets less current liabilities: 1,866,452 1,572,298
Creditors: amounts falling due after more than one year:   (793,358) (822,710)
Total net assets (liabilities): 1,073,094 749,588
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,072,994 749,488
Shareholders funds: 1,073,094 749,588

The notes form part of these financial statements

CASTELL WEALTH MANAGEMENT LTD

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 January 2024
and signed on behalf of the board by:

Name: James Moreton George Lindley
Status: Director

The notes form part of these financial statements

CASTELL WEALTH MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

1. Accounting policies

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

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Tangible fixed assets and depreciation policy

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives.

Intangible fixed assets and amortisation policy

Other intangible assets represent purchases of client books from other Independent Financial Advisors. These assets are regarded as having an indefinite life, no amortisation is charged. Instead, annual impairment reviews are carried out.

Other accounting policies

Income tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

CASTELL WEALTH MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

2. Employees

2023 2022
Average number of employees during the period 3 1

CASTELL WEALTH MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

3. Intangible Assets

Total
Cost £
At 01 November 2022 1,607,941
Disposals (27,137)
At 31 October 2023 1,580,804
Net book value
At 31 October 2023 1,580,804
At 31 October 2022 1,607,941

CASTELL WEALTH MANAGEMENT LTD

Notes to the Financial Statements

for the Period Ended 31 October 2023

4. Tangible Assets

Total
Cost £
At 01 November 2022 16,061
Additions 2,436
At 31 October 2023 18,497
Depreciation
At 01 November 2022 2,863
Charge for year 4,537
At 31 October 2023 7,400
Net book value
At 31 October 2023 11,097
At 31 October 2022 13,198