Wealth And Tax Group Limited 10536103 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of Activities of other holding companies Digita Accounts Production Advanced 6.30.9574.0 true false true true true true 10536103 2023-01-01 2023-12-31 10536103 2023-12-31 10536103 bus:OrdinaryShareClass1 bus:OtherShareType 2023-12-31 10536103 core:CapitalRedemptionReserve 2023-12-31 10536103 core:OtherMiscellaneousReserve 2023-12-31 10536103 core:OtherReservesSubtotal 2023-12-31 10536103 core:RetainedEarningsAccumulatedLosses 2023-12-31 10536103 core:ShareCapital 2023-12-31 10536103 core:SharePremium 2023-12-31 10536103 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-12-31 10536103 core:CurrentFinancialInstruments 2023-12-31 10536103 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10536103 bus:SmallEntities 2023-01-01 2023-12-31 10536103 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10536103 bus:FullAccounts 2023-01-01 2023-12-31 10536103 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10536103 bus:RegisteredOffice 2023-01-01 2023-12-31 10536103 bus:Director1 2023-01-01 2023-12-31 10536103 bus:Director2 2023-01-01 2023-12-31 10536103 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-01 2023-12-31 10536103 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10536103 core:CapitalRedemptionReserve 2023-01-01 2023-12-31 10536103 core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 10536103 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 10536103 core:ShareCapital 2023-01-01 2023-12-31 10536103 core:SharePremium 2023-01-01 2023-12-31 10536103 core:Subsidiary1 2023-01-01 2023-12-31 10536103 core:Subsidiary1 1 2023-01-01 2023-12-31 10536103 core:Subsidiary1 countries:AllCountries 2023-01-01 2023-12-31 10536103 core:Subsidiary2 2023-01-01 2023-12-31 10536103 core:Subsidiary2 1 2023-01-01 2023-12-31 10536103 core:Subsidiary2 countries:AllCountries 2023-01-01 2023-12-31 10536103 core:Subsidiary3 2023-01-01 2023-12-31 10536103 core:Subsidiary3 1 2023-01-01 2023-12-31 10536103 core:Subsidiary3 countries:AllCountries 2023-01-01 2023-12-31 10536103 countries:AllCountries 2023-01-01 2023-12-31 10536103 2022-12-31 10536103 core:CapitalRedemptionReserve 2022-12-31 10536103 core:OtherMiscellaneousReserve 2022-12-31 10536103 core:RetainedEarningsAccumulatedLosses 2022-12-31 10536103 core:ShareCapital 2022-12-31 10536103 core:SharePremium 2022-12-31 10536103 core:CostValuation 2022-12-31 10536103 2022-01-01 2022-12-31 10536103 2022-12-31 10536103 bus:OrdinaryShareClass1 bus:OtherShareType 2022-12-31 10536103 core:CapitalRedemptionReserve 2022-12-31 10536103 core:OtherReservesSubtotal 2022-12-31 10536103 core:RetainedEarningsAccumulatedLosses 2022-12-31 10536103 core:ShareCapital 2022-12-31 10536103 core:SharePremium 2022-12-31 10536103 core:CurrentFinancialInstruments 2022-12-31 10536103 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 10536103 core:CapitalRedemptionReserve 2022-01-01 2022-12-31 10536103 core:OtherMiscellaneousReserve 2022-01-01 2022-12-31 10536103 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 10536103 core:ShareCapital 2022-01-01 2022-12-31 10536103 core:SharePremium 2022-01-01 2022-12-31 10536103 core:Subsidiary1 1 2022-01-01 2022-12-31 10536103 core:Subsidiary2 1 2022-01-01 2022-12-31 10536103 core:Subsidiary3 1 2022-01-01 2022-12-31 10536103 2021-12-31 10536103 core:CapitalRedemptionReserve 2021-12-31 10536103 core:OtherMiscellaneousReserve 2021-12-31 10536103 core:RetainedEarningsAccumulatedLosses 2021-12-31 10536103 core:ShareCapital 2021-12-31 10536103 core:SharePremium 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10536103

Wealth And Tax Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Wealth And Tax Group Limited

Contents

Company Information

1

Balance Sheet

2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 9

 

Wealth And Tax Group Limited

Company Information

Directors

Mr Anthony William Byrne

Ms Cholpon Djanuzakova

Registered office

17 Shirwell Crescent
Furzton Lake
Milton Keynes
MK4 1GA

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Wealth And Tax Group Limited

(Registration number: 10536103)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,560,000

1,560,000

Other financial assets

5

191,116

191,116

 

1,751,116

1,751,116

Current assets

 

Debtors

6

183,712

508,643

Cash at bank and in hand

 

35,072

35,072

 

218,784

543,715

Creditors: Amounts falling due within one year

7

(117,517)

(66,595)

Net current assets

 

101,267

477,120

Net assets

 

1,852,383

2,228,236

Capital and reserves

 

Called up share capital

282

322

Share premium reserve

1,459,714

1,834,674

Capital redemption reserve

44

4

Other reserves

18,182

18,182

Retained earnings

374,161

375,054

Shareholders' funds

 

1,852,383

2,228,236

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 April 2024 and signed on its behalf by:
 

.........................................
Mr Anthony William Byrne
Director

 

Wealth And Tax Group Limited

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Share premium
£

Capital redemption reserve
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 January 2023

322

1,834,674

4

18,182

375,054

2,228,236

Profit for the year

-

-

-

-

27,147

27,147

Dividends

-

-

-

-

(403,000)

(403,000)

Purchase of own share capital

(40)

-

-

-

374,960

374,920

Other share premium reserve movements

-

(374,960)

-

-

-

(374,960)

Other capital redemption reserve movements

-

-

40

-

-

40

At 31 December 2023

282

1,459,714

44

18,182

374,161

1,852,383

Share capital
£

Share premium
£

Capital redemption reserve
£

Non-distributable reserve
£

Retained earnings
£

Total
£

At 1 January 2022

322

1,834,674

4

18,182

235,906

2,089,088

Profit for the year

-

-

-

-

164,148

164,148

Dividends

-

-

-

-

(25,000)

(25,000)

At 31 December 2022

322

1,834,674

4

18,182

375,054

2,228,236

 

Wealth And Tax Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
17 Shirwell Crescent
Furzton Lake
Milton Keynes
MK4 1GA

These financial statements were authorised for issue by the Board on 10 April 2024.

The company registration number is 10536103

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Wealth And Tax Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Wealth And Tax Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,560,000

1,560,000

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,560,000

Provision

Carrying amount

At 31 December 2023

1,560,000

At 31 December 2022

1,560,000

 

Wealth And Tax Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Wealth and Tax Management Ltd

17 Shirwell Crescent
Furzton Lake
Milton Keynes
NK4 1GA

England & Wales

Ordinary

100%

100%

Byrne Williams Ltd

17 Shirwell Crescent
Furzton Lake
Milton Keynes
MK4 1GA

England & Wales

Ordinary

100%

100%

Wealth and Tax Management Services Ltd

17 Shirwell Crescent
Furzton Lake
Milton Keynes
MK4 1GA

England & Wales

Ordinary

100%

100%

Subsidiary undertakings

Wealth and Tax Management Ltd

The principal activity of Wealth and Tax Management Ltd is Financial Management.

Byrne Williams Ltd

The principal activity of Byrne Williams Ltd is Financial Management.

Wealth and Tax Management Services Ltd

The principal activity of Wealth and Tax Management Services Ltd is Financial Management.

 

Wealth And Tax Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

191,116

191,116

At 31 December 2023

191,116

191,116

Impairment

Carrying amount

At 31 December 2023

191,116

191,116

 

Wealth And Tax Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

121,162

133,643

Other debtors

 

62,550

375,000

 

183,712

508,643

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

34,957

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

80,827

65,827

Accruals and deferred income

 

1,104

768

Other creditors

 

629

-

 

117,517

66,595

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

322

322

322

322

         

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

34,957

-