Company registration number 14462498 (England and Wales)
RICHARD ARMITAGE WEALTH MANAGEMENT SOUTH WEST LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
RICHARD ARMITAGE WEALTH MANAGEMENT SOUTH WEST LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RICHARD ARMITAGE WEALTH MANAGEMENT SOUTH WEST LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Current assets
Debtors
3
1,864,598
Cash at bank and in hand
100
Net current assets
1,864,698
Capital and reserves
Called up share capital
4
200
Share premium account
1,864,498
Total equity
1,864,698

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 August 2024 and are signed on its behalf by:
M A Couzens
Director
Company Registration No. 14462498
RICHARD ARMITAGE WEALTH MANAGEMENT SOUTH WEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Richard Armitage Wealth Management South West Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Mill, Kingsteignton Road, Newton Abbot, Devon, TQ12 2QA.

1.1
Reporting period

The company was incorporated on 4 November 2022. The year end was changed to 31 December 2023 to match the new parent company, therefore these financial statements represent a 14 month period.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Profit and loss account

The company has not traded during the period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

RICHARD ARMITAGE WEALTH MANAGEMENT SOUTH WEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
3
3
Debtors
2023
Amounts falling due within one year:
£
Amounts owed by group undertakings
1,864,598
4
Share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
200
200
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Andrew Reddington
Statutory Auditor:
Azets Audit Services
6
Related party transactions

At the balance sheet date the company was owed £1,864,598 from Lyncombe Consultants Limited. The amount is unsecured, interest free and repayable on demand, and has therefore been classifed as due within one year.

RICHARD ARMITAGE WEALTH MANAGEMENT SOUTH WEST LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
7
Parent company

The parent company is Adviser Services Holdings Limited, incorporated in England and Wales. Copies of the consolidated financial statements may be obtained from the Registrar of Companies, Maindy Way, Cardiff, CF4 3UZ.

 

The ultimate controlling party of the company is the board of directors by virtue of their majority share holding in Adviser Services Holdings Limited.

2023-12-312022-11-04true02 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedM A CouzensFirst Inital S CresswellM A FernsR ArmitageC ArmitageC ForbesfalsefalseExemption section 480 of the Companies Act 2006144624982022-11-042023-12-31144624982023-12-3114462498core:ShareCapital2023-12-3114462498core:SharePremium2023-12-3114462498bus:Director12022-11-042023-12-3114462498core:CurrentFinancialInstruments2023-12-3114462498core:OtherGroupMember12022-11-042023-12-3114462498core:OtherGroupMember12023-12-3114462498bus:EntityHasNeverTraded2022-11-042023-12-3114462498bus:PrivateLimitedCompanyLtd2022-11-042023-12-3114462498bus:SmallCompaniesRegimeForAccounts2022-11-042023-12-3114462498bus:FRS1022022-11-042023-12-3114462498bus:Audited2022-11-042023-12-3114462498bus:Director22022-11-042023-12-3114462498bus:Director32022-11-042023-12-3114462498bus:Director42022-11-042023-12-3114462498bus:Director52022-11-042023-12-3114462498bus:CompanySecretary12022-11-042023-12-3114462498bus:FullAccounts2022-11-042023-12-31xbrli:purexbrli:sharesiso4217:GBP