Company Registration No. 06612806 (England and Wales)
DBA Wealth Management Ltd
Unaudited filleted financial statements
for the year ended 31 March 2024
DBA Wealth Management Ltd
Unaudited filleted financial statements
Contents
DBA Wealth Management Ltd
Company Information
for the year ended 31 March 2024
Directors
D C A Barr
L V Howes
G M F Pidcock
Company Number
06612806 (England and Wales)
Registered Office
The West Wing
Bowcliffe Hall
Bramham
West Yorkshire
LS23 6LP
United Kingdom
Accountants
Chris Hastings Limited
87 Holt Lane
Adel
Leeds
West Yorkshire
LS16 7NT
DBA Wealth Management Ltd
Statement of financial position
as at 31 March 2024
Cash at bank and in hand
69,771
56,563
Creditors: amounts falling due within one year
(40,326)
(37,296)
Net current assets
72,105
59,668
Called up share capital
100
100
Profit and loss account
72,005
59,568
Shareholders' funds
72,105
59,668
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by
D C A Barr
Director
Company Registration No. 06612806
DBA Wealth Management Ltd
Notes to the Accounts
for the year ended 31 March 2024
DBA Wealth Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 06612806. The registered office is The West Wing, Bowcliffe Hall, Bramham, West Yorkshire, LS23 6LP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in sterling, which is the functional currency of the entity.
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
DBA Wealth Management Ltd
Notes to the Accounts
for the year ended 31 March 2024
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Amounts falling due after more than one year
Other debtors
42,660
40,401
5
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
18,683
12,745
6
Average number of employees
During the year the average number of employees was 3 (2023: 3).