IRIS Accounts Production v24.2.0.383 05458948 Board of Directors 1.1.23 31.12.23 31.12.23 0 false true false false false true true true true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh054589482022-12-31054589482023-12-31054589482023-01-012023-12-31054589482021-12-31054589482022-01-012022-12-31054589482022-12-3105458948ns15:EnglandWales2023-01-012023-12-3105458948ns14:PoundSterling2023-01-012023-12-3105458948ns10:Director12023-01-012023-12-3105458948ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105458948ns10:SmallEntities2023-01-012023-12-3105458948ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105458948ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105458948ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105458948ns10:FullAccounts2023-01-012023-12-310545894812023-01-012023-12-3105458948ns10:Director22023-01-012023-12-3105458948ns10:Director32023-01-012023-12-3105458948ns10:CompanySecretary12023-01-012023-12-3105458948ns10:RegisteredOffice2023-01-012023-12-3105458948ns5:CurrentFinancialInstruments2023-12-3105458948ns5:CurrentFinancialInstruments2022-12-3105458948ns5:Non-currentFinancialInstruments2023-12-3105458948ns5:Non-currentFinancialInstruments2022-12-3105458948ns5:ShareCapital2023-12-3105458948ns5:ShareCapital2022-12-3105458948ns5:RetainedEarningsAccumulatedLosses2023-12-3105458948ns5:RetainedEarningsAccumulatedLosses2022-12-3105458948ns5:NetGoodwill2023-01-012023-12-3105458948ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105458948ns5:NetGoodwill2022-12-3105458948ns5:NetGoodwill2023-12-3105458948ns5:NetGoodwill2022-12-3105458948ns5:PlantMachinery2022-12-3105458948ns5:PlantMachinery2023-01-012023-12-3105458948ns5:PlantMachinery2023-12-3105458948ns5:PlantMachinery2022-12-3105458948ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3105458948ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 05458948 (England and Wales)

























Financial Statements

for the Year Ended 31 December 2023

for

Lansdown Place Wealth Management Limited

Lansdown Place Wealth Management Limited (Registered number: 05458948)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lansdown Place Wealth Management Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: C Lawson
Mrs N C Mould
G Lewis





SECRETARY: Mrs N C Mould





REGISTERED OFFICE: 2 Oakfield Road
Clifton
Bristol
BS8 2AL





REGISTERED NUMBER: 05458948 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Lansdown Place Wealth Management Limited (Registered number: 05458948)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,690 34,253
Tangible assets 5 29,220 14,933
54,910 49,186

CURRENT ASSETS
Debtors 6 6,975,484 7,141,483
Cash at bank 213,170 362,092
7,188,654 7,503,575
CREDITORS
Amounts falling due within one year 7 460,546 401,116
NET CURRENT ASSETS 6,728,108 7,102,459
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,783,018

7,151,645

CREDITORS
Amounts falling due after more than one
year

8

(7,053,426

)

(7,129,180

)

PROVISIONS FOR LIABILITIES (7,305 ) (2,837 )
NET (LIABILITIES)/ASSETS (277,713 ) 19,628

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings (277,733 ) 19,608
SHAREHOLDERS' FUNDS (277,713 ) 19,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

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

Lansdown Place Wealth Management Limited (Registered number: 05458948)

Balance Sheet - continued
31 December 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.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





Mrs N C Mould - Director


Lansdown Place Wealth Management Limited (Registered number: 05458948)

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

1. STATUTORY INFORMATION

Lansdown Place 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.

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 under the historical cost convention, on a going concern basis and in accordance with Financial Reporting Standard 102 (FRS 102), 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland', and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies. The only areas involving significant accounting estimate and judgement is the calculation of the Investment and the calculation of the fair value of contractual rights to income streams. Further details are given in notes 10, 11 and 12 respectively.

The principal accounting policies, which have been applied consistently throughout the period, are set out below.

Turnover
Turnover represents fees and commission receivable by the Company following the advice provided on financial products through St. James's Place Wealth Management plc, net of value added tax where applicable. Turnover is recognised on an accruals basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five 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.

Lansdown Place Wealth Management Limited (Registered number: 05458948)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Property, plant and equipment under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Statement of Comprehensive Income during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less the residual value over their estimated useful lives, using the straight line method.

Depreciation is provided on the following basis:

Fixtures and fittings- 15% on cost
Computer equipment- 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

Financial instruments
The Company recognises financial instruments when it becomes a party to the contractual arrangements of the instrument. Financial instruments are de-recognised when they are discharged or when the contractual terms expire. The Company's accounting policies in respect of financial instruments transactions are explained below:

Financial assets
The Company classifies all of its financial assets as financial assets held at amortised cost.

At amortised cost
Financial assets held at amortised cost are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise principally through the provision of goods and services to customers (e.g. trade receivables), but also incorporate other types of contractual and monetary asset. They are initially recognised at fair value plus transaction costs that are directly attributable to their acquisition or issue, and are subsequently carried at amortised cost using the effective interest rate method, less provision for impairment.

Financial assets held at amortised cost are impaired using an expected credit loss model. Expected credit losses are based on the historic levels of loss experienced for the financial assets, with due consideration given to the forward looking information.

Financial liabilities
The Company classifies all of its financial liabilities as liabilities at amortised cost.

At amortised cost
Financial liabilities at amortised cost are initially recognised at fair value net of any transactions costs directly attributable to the issue of the instrument. Such interest-bearing liabilities are subsequently measured at amortised cost using the effective interest rate method, which ensures that any interest expense over the period to repayment is at a constant rate on the balance of the liability carried into the Statement of Financial Position.


Lansdown Place Wealth Management Limited (Registered number: 05458948)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Tax is recognised in the Statement of Comprehensive Income. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the United Kingdom, where the Company operates and generates income.

Deferred tax
Deferred tax is provided using the liability method, providing for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes. Differences that arise from the initial recognition of assets or liabilities that affect neither accounting nor taxable profit are not provided for. The amount of deferred tax provided is based on the expected manner of realisation or settlement of the carrying amount of assets and liabilities, using tax rates enacted or substantively enacted at the reporting date.

A deferred tax asset is recognised only to the extent that it is probable that future taxable profits will be available against which the asset can be utilised. Deferred tax assets are reduced to the extent that it is no longer probable that the related tax benefit will be realised.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.

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 25 (2022 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 42,816
AMORTISATION
At 1 January 2023 8,563
Charge for year 8,563
At 31 December 2023 17,126
NET BOOK VALUE
At 31 December 2023 25,690
At 31 December 2022 34,253

Lansdown Place Wealth Management Limited (Registered number: 05458948)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 40,010
Additions 30,600
At 31 December 2023 70,610
DEPRECIATION
At 1 January 2023 25,077
Charge for year 16,313
At 31 December 2023 41,390
NET BOOK VALUE
At 31 December 2023 29,220
At 31 December 2022 14,933

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 164,134 206,704
Renewal assets 146,558 170,344
Amounts owed by group undertakings 5,811,461 5,776,618
Other debtors 32,987 1,795
Prepayments 21,458 40,577
6,176,598 6,196,038

Amounts falling due after more than one year:
Renewal asset 798,886 945,445

Aggregate amounts 6,975,484 7,141,483

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other loans 200,660 196,423
Trade creditors 75,131 103,769
Amounts owed to group undertakings 9,810 38,250
Other creditors 60,879 13,271
Deferred Consideration 4,902 4,902
Accrued expenses 109,164 44,501
460,546 401,116

Lansdown Place Wealth Management Limited (Registered number: 05458948)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other loans - 1-2 years 245,791 332,155
Other loans - 2-5 years 2,411,684 2,022,937
Other loans more 5yrs instal 4,395,951 4,774,088
7,053,426 7,129,180

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 4,395,951 4,774,088

9. RELATED PARTY BALANCES DISCLOSURES

In November 2021 the company ceased being a member of the St James's Place Group Plc.

An amount of £0 (2022 - £1,822,234) was recharged by LP Financial Management Limited to the company during the year, being Group costs incurred by the company.

An amount of £2,157 (2022 - £5,782) was recharged by LP Auto Enrolment Solutions Limited to the company during the year, being Group costs incurred by the company.


All balances existing between related parties are shown below.
2023 2022
£    £   
Intra-Group receivables, net of provisions
LP Financial Management Limited 998,526 894,871
LP Auto Enrolment Solutions Limited - 73,119
NCG Group Holdings Limited 550,000 550,000
LP Holdco Limited 4,262,935 4,258,627
5,811,461 5,776,617

2023 2022
£    £   
Intra-Group payables
LP Group Holdings Limited 9,810 38,250-
9,810 38,250

10. ULTIMATE PARENT UNDERTAKING AND CONTROLLING PARTY

NCG Group Holdings Ltd is the single ultimate controlling party.