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REGISTERED NUMBER: 07218115 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Four Wealth Management Limited

Four Wealth Management Limited (Registered number: 07218115)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Four Wealth Management Limited

Company Information
for the Year Ended 30 April 2024







DIRECTOR: J Morrison





REGISTERED OFFICE: Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ





REGISTERED NUMBER: 07218115 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Four Wealth Management Limited (Registered number: 07218115)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 210,297 323,260
Tangible assets 5 3,039 10,372
Investments 6 - 4,000
213,336 337,632

CURRENT ASSETS
Debtors 7 212,600 143,310
Cash at bank 319,196 273,420
531,796 416,730
CREDITORS
Amounts falling due within one year 8 319,613 308,069
NET CURRENT ASSETS 212,183 108,661
TOTAL ASSETS LESS CURRENT LIABILITIES 425,519 446,293

CREDITORS
Amounts falling due after more than one
year

9

(89,873

)

(131,814

)

PROVISIONS FOR LIABILITIES (578 ) (4,200 )
NET ASSETS 335,068 310,279

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 334,968 310,179
335,068 310,279

Four Wealth Management Limited (Registered number: 07218115)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 September 2024 and were signed by:





J Morrison - Director


Four Wealth Management Limited (Registered number: 07218115)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Four 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 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.

There have been no material departures from the Financial Reporting Standard 102 1A.

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

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.

Rental income from sub-let premises is recognised on an accruals basis in line with the overall revenue recognition policy.

Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date.

Goodwill is amortised evenly over its estimated useful life of ten years.

Other intangible assets
Customer lists are amortised evenly over their estimated useful life of ten years.

Four Wealth Management Limited (Registered number: 07218115)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment - 33% 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.

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.

Fixed asset investments
Fixed asset investments are recognised in the financial statements at market value.

Four Wealth Management Limited (Registered number: 07218115)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2023 192,000 1,293,014 1,485,014
Disposals - (2,348 ) (2,348 )
At 30 April 2024 192,000 1,290,666 1,482,666
AMORTISATION
At 1 May 2023 186,080 975,674 1,161,754
Charge for year 5,920 105,728 111,648
Eliminated on disposal - (1,033 ) (1,033 )
At 30 April 2024 192,000 1,080,369 1,272,369
NET BOOK VALUE
At 30 April 2024 - 210,297 210,297
At 30 April 2023 5,920 317,340 323,260

Four Wealth Management Limited (Registered number: 07218115)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
At 1 May 2023 68,014
Additions 1,612
Disposals (53,893 )
At 30 April 2024 15,733
DEPRECIATION
At 1 May 2023 57,642
Charge for year 4,762
Eliminated on disposal (49,710 )
At 30 April 2024 12,694
NET BOOK VALUE
At 30 April 2024 3,039
At 30 April 2023 10,372

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 May 2023 4,000
Disposals (4,000 )
At 30 April 2024 -
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 4,000

Four Wealth Management Limited (Registered number: 07218115)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 186,422 63,378
Other debtors 26,178 79,932
212,600 143,310

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 49,410 44,149
Trade creditors 107,481 68,602
Taxation and social security 145,026 98,451
Other creditors 17,696 96,867
319,613 308,069

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 89,873 131,814

10. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 139,283 175,963

The company's bankers have a fixed and floating charge over all assets of the company.

11. PENSION COMMITMENTS

The entity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £2,278 (2023 - £1,953) were payable to the fund at the reporting date.

Four Wealth Management Limited (Registered number: 07218115)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

12. OFF BALANCE SHEET COMMITMENTS

At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable leases totalling £7,008 (2023 - £52,215).

13. RELATED PARTY DISCLOSURES

Loans from related parties


Key
management


Total
2024 £ £
At start of period 16 16
Advanced 391,980 391,980
Repaid (391,140 ) (391,140 )
At end of period 856 856


Key
management


Total
2023 £ £
At start of period 51 51
Advanced 433,283 433,283
Repaid (433,318 ) (433,318 )
At end of period 16 16

The loan from key management is repayable on demand and interest is charged at the HMRC approved rates.