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REGISTERED NUMBER: 13000503 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Frizzell Wealth Management Limited

Frizzell Wealth Management Limited (Registered number: 13000503)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Frizzell Wealth Management Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mr Thomas Christopher Frizzell
Mrs Holly Lucy Frizzell





REGISTERED OFFICE: 1 St Mary's Court
Wallingford
United Kingdom
OX10 0EB





REGISTERED NUMBER: 13000503 (England and Wales)





ACCOUNTANTS: Inca Accountants Ltd
Chartered Certified Accountants
Central Office
Cobweb Buildings
The Lane, Lyford
Nr Wantage
Oxfordshire
OX12 0EE

Frizzell Wealth Management Limited (Registered number: 13000503)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,035,293 4,543,606
Tangible assets 5 94,921 18,217
4,130,214 4,561,823

CURRENT ASSETS
Debtors 6 132,272 153,937
Cash at bank 1,055,421 889,998
1,187,693 1,043,935
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

7

(730,769

)

(930,197

)
NET CURRENT ASSETS 456,924 113,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,587,138

4,675,561

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE
YEAR


8


(3,910,211


)


(4,309,357


)
NET ASSETS 676,927 366,204

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 676,827 366,104
676,927 366,204

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Frizzell Wealth Management Limited (Registered number: 13000503)

Balance Sheet - continued
30 November 2023


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 Income Statement has not been delivered.

Approved and authorised by the Board of Directors and authorised for issue on 22 March 2024 and were signed on its behalf by:





Mr Thomas Christopher Frizzell - Director


Frizzell Wealth Management Limited (Registered number: 13000503)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Frizzell Wealth Management Limited 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.

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.

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 2016, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 19 ) .

Frizzell Wealth Management Limited (Registered number: 13000503)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill Practice Totals
£    £    £   
COST
At 1 December 2022 106,403 5,493,573 5,599,976
Additions - 90,895 90,895
Disposals - (14,558 ) (14,558 )
At 30 November 2023 106,403 5,569,910 5,676,313
AMORTISATION
At 1 December 2022 24,827 1,031,543 1,056,370
Amortisation for year 10,641 578,376 589,017
Eliminated on disposal - (4,367 ) (4,367 )
At 30 November 2023 35,468 1,605,552 1,641,020
NET BOOK VALUE
At 30 November 2023 70,935 3,964,358 4,035,293
At 30 November 2022 81,576 4,462,030 4,543,606

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 14,537 26,946 - 41,483
Additions 1,500 - 114,599 116,099
At 30 November 2023 16,037 26,946 114,599 157,582
DEPRECIATION
At 1 December 2022 7,713 15,553 - 23,266
Charge for year 4,009 6,736 28,650 39,395
At 30 November 2023 11,722 22,289 28,650 62,661
NET BOOK VALUE
At 30 November 2023 4,315 4,657 85,949 94,921
At 30 November 2022 6,824 11,393 - 18,217

Frizzell Wealth Management Limited (Registered number: 13000503)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 129,494 151,484
Other debtors 2,778 2,453
132,272 153,937

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 487,236 494,959
Hire purchase contracts 8,257 -
Trade creditors 33,200 1,363
Taxation and social security 89,519 329,797
Other creditors 112,557 104,078
730,769 930,197

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 3,828,869 4,309,357
Hire purchase contracts 81,342 -
3,910,211 4,309,357

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,902,455 2,505,294