4 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 311,160 129,650 31,116 160,766 150,394 181,510 xbrli:pure xbrli:shares iso4217:GBP 07749880 2023-01-01 2023-12-31 07749880 2023-12-31 07749880 2022-12-31 07749880 2022-01-01 2022-12-31 07749880 2022-12-31 07749880 bus:Director1 2023-01-01 2023-12-31 07749880 core:NetGoodwill 2022-12-31 07749880 core:NetGoodwill 2023-12-31 07749880 core:FurnitureFittings 2022-12-31 07749880 core:FurnitureFittings 2023-01-01 2023-12-31 07749880 core:WithinOneYear 2023-12-31 07749880 core:WithinOneYear 2022-12-31 07749880 core:AfterOneYear 2023-12-31 07749880 core:AfterOneYear 2022-12-31 07749880 core:ShareCapital 2023-12-31 07749880 core:ShareCapital 2022-12-31 07749880 core:RetainedEarningsAccumulatedLosses 2023-12-31 07749880 core:RetainedEarningsAccumulatedLosses 2022-12-31 07749880 core:NetGoodwill 2023-01-01 2023-12-31 07749880 core:NetGoodwill 2022-12-31 07749880 bus:SmallEntities 2023-01-01 2023-12-31 07749880 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07749880 bus:FullAccounts 2023-01-01 2023-12-31 07749880 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07749880 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 07749880
Robert Saunderson Wealth Management Limited (formerly Robert Elliot Wealth Management Limited)
Filleted Unaudited Financial Statements
31 December 2023
Robert Saunderson Wealth Management Limited (formerly Robert Elliot Wealth Management Limited)
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
150,394
181,510
Tangible assets
6
503
460
--------
--------
150,897
181,970
Current assets
Debtors
7
45,409
Cash at bank and in hand
55,115
51,455
-------
-------
55,115
96,864
Creditors: amounts falling due within one year
8
158,395
72,839
--------
-------
Net current (liabilities)/assets
( 103,280)
24,025
--------
--------
Total assets less current liabilities
47,617
205,995
Creditors: amounts falling due after more than one year
9
15,661
133,763
Provisions
Taxation including deferred tax
126
115
-------
--------
Net assets
31,830
72,117
-------
--------
Capital and reserves
Called up share capital
4
4
Profit and loss account
31,826
72,113
-------
-------
Shareholders funds
31,830
72,117
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Robert Saunderson Wealth Management Limited (formerly Robert Elliot Wealth Management Limited)
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 2 August 2024 , and are signed on behalf of the board by:
R J Saunderson
Director
Company registration number: 07749880
Robert Saunderson Wealth Management Limited (formerly Robert Elliot Wealth Management Limited)
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. (b) Revenue recognition Turnover represents the consideration and commissions receivable for services rendered during the year. (c) Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. (d) Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. (f) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 5 years straight line
Equipment - 4 years straight line
(g) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
(h) Financial instruments
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 entity after deducting all of its financial liabilities.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
311,160
--------
Amortisation
At 1 January 2023
129,650
Charge for the year
31,116
--------
At 31 December 2023
160,766
--------
Carrying amount
At 31 December 2023
150,394
--------
At 31 December 2022
181,510
--------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023
390
1,758
2,148
Additions
549
549
Disposals
( 390)
( 1,474)
( 1,864)
---
------
------
At 31 December 2023
833
833
---
------
------
Depreciation
At 1 January 2023
390
1,298
1,688
Charge for the year
294
294
Disposals
( 390)
( 1,262)
( 1,652)
---
------
------
At 31 December 2023
330
330
---
------
------
Carrying amount
At 31 December 2023
503
503
---
------
------
At 31 December 2022
460
460
---
------
------
7. Debtors
2023
2022
£
£
Other debtors
45,409
---
-------
Other debtors includes £Nil (2022: £43,931) due from an ex-director. The total amount advanced to the director during the year was £48,285. This loan was repaid in full in November 2023.
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,119
9,737
Trade creditors
7,462
7,807
Corporation tax
23,499
44,442
Social security and other taxes
1,196
2,460
Other creditors
116,119
8,393
--------
-------
158,395
72,839
--------
-------
Other creditors falling due within one year includes £48,419 (2022- £Nil) in respect of amounts that have been personally guaranteed by the directors.
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
15,661
25,913
Other creditors
107,850
-------
--------
15,661
133,763
-------
--------