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Registered Number: 01311922
England and Wales

 

 

 

BROWNLOW WEALTH MANAGEMENT LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Brownlow Wealth Management Ltd for the year ended 31 December 2023 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Brownlow Wealth Management Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Brownlow Wealth Management Ltd and state those matters that we have agreed to state to the Board of Brownlow Wealth Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brownlow Wealth Management Ltd and its members as a body for our work or for this report.

It is your duty to ensure that Brownlow Wealth Management Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of Brownlow Wealth Management Ltd. You consider that Brownlow Wealth Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Brownlow Wealth Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
HP4 2AF
26 September 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 22,042    26,609 
Tangible fixed assets 4 75,776    1,384 
97,818    27,993 
Current assets      
Debtors 8,278   
Cash at bank and in hand 133,397    273,386 
141,675    273,386 
Creditors: amount falling due within one year (39,969)   (70,935)
Net current assets 101,706    202,451 
 
Total assets less current liabilities 199,524    230,444 
Provisions for liabilities (14,174)   (263)
Net assets 185,350    230,181 
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Profit and loss account 184,350    229,181 
Shareholders' funds 185,350    230,181 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 26 September 2024 and were signed by:


-------------------------------
James Rudd
Director
2
General Information
Brownlow Wealth Management Ltd is a private company, limited by shares, registered in England and Wales, registration number 01311922, registration address Piggeries 1, Widbury Barns, Widbury Hill, Ware, SG12 7QE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Revenue
Revenue represents net invoiced wealth management services excluding VAT.  Revenue is recognised when the right to that income is earned.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery etc 20%
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Intangible fixed assets

Cost Goodwill   Other   Total
  £   £   £
At 01 January 2023 33,261      33,261 
Additions   2,085    2,085 
Disposals    
At 31 December 2023 33,261    2,085    35,346 
Amortisation
At 01 January 2023 2,589    4,063    6,652 
Charge for year 2,589    4,063    6,652 
On disposals    
At 31 December 2023 5,178    8,126    13,304 
Net book values
At 31 December 2023 28,083    (6,041)   22,042 
At 31 December 2022 30,672    (4,063)   26,609 


4.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 January 2023 2,771    2,771 
Additions 86,944    86,944 
Disposals  
At 31 December 2023 89,715    89,715 
Depreciation
At 01 January 2023 1,387    1,387 
Charge for year 12,552    12,552 
On disposals  
At 31 December 2023 13,939    13,939 
Net book values
Closing balance as at 31 December 2023 75,776    75,776 
Opening balance as at 01 January 2023 1,384    1,384 


3