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REGISTERED NUMBER: 13112967 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Gittins & Co. Wealth Management Ltd

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gittins & Co. Wealth Management Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs K H Gittins
B J Gittins





REGISTERED OFFICE: Pulford Grange Chester Road
Rossett
Wrexham
Clwyd
LL12 0DF





REGISTERED NUMBER: 13112967 (England and Wales)





ACCOUNTANTS: G Ceidiog Hughes Limited
40 Brookhouse Road
Denbigh
Clwyd
LL16 4RQ

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000,470 2,325,655
Tangible assets 5 63,847 23,235
2,064,317 2,348,890

CURRENT ASSETS
Debtors 6 797,173 432,254
Cash at bank 241,072 94,937
1,038,245 527,191
CREDITORS
Amounts falling due within one year 7 313,929 307,924
NET CURRENT ASSETS 724,316 219,267
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,788,633

2,568,157

CREDITORS
Amounts falling due after more than
one year

8

(1,155,420

)

(1,224,873

)

PROVISIONS FOR LIABILITIES 10 (15,961 ) (4,414 )
NET ASSETS 1,617,252 1,338,870

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Balance Sheet - continued
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 676,176 676,176
Retained earnings 941,076 662,694
SHAREHOLDERS' FUNDS 1,617,252 1,338,870

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





B J Gittins - Director


Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gittins & Co. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Significant judgements and estimates
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Estimated useful lives and residual values of fixed assets
Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of twenty years.

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.

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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.

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 2,448,055
Additions 19,661
Disposals (246,185 )
At 31 March 2024 2,221,531
AMORTISATION
At 1 April 2023 122,400
Amortisation for year 110,970
Eliminated on disposal (12,309 )
At 31 March 2024 221,061
NET BOOK VALUE
At 31 March 2024 2,000,470
At 31 March 2023 2,325,655

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 32,019 10,299 42,318
Additions 39,531 7,272 46,803
At 31 March 2024 71,550 17,571 89,121
DEPRECIATION
At 1 April 2023 13,536 5,547 19,083
Charge for year 4,621 1,570 6,191
At 31 March 2024 18,157 7,117 25,274
NET BOOK VALUE
At 31 March 2024 53,393 10,454 63,847
At 31 March 2023 18,483 4,752 23,235

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 121,551 139,524
Other debtors 6,500 5,054
128,051 144,578

Amounts falling due after more than one year:
Amounts owed by group undertakings 669,122 287,676

Aggregate amounts 797,173 432,254

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 9) 85,543 177,090
Trade creditors 31,494 9,112
Tax 165,273 106,533
Social security and other taxes 12,434 3,136
Directors' current accounts 7 3,653
Accrued expenses 19,178 8,400
313,929 307,924

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Other loans (see note 9) 1,155,420 1,224,873

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 727,893 516,513

Gittins & Co. Wealth Management Ltd (Registered number: 13112967)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Other loans 85,543 177,090

Amounts falling due between one and two years:
Other loans - 1-2 years 93,336 177,090

Amounts falling due between two and five years:
Other loans - 2-5 years 334,191 531,270

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 727,893 516,513

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 15,961 4,414

Deferred
tax
£   
Balance at 1 April 2023 4,414
Movement in the year due to:
Changes in tax allowances 7,716
Changes in tax rates 3,831
Balance at 31 March 2024 15,961