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REGISTERED NUMBER: 10155980 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

LBWM LIMITED

LBWM LIMITED (REGISTERED NUMBER: 10155980)






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

Chartered Accountants' Report 7

LBWM LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: L B Bennett





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: 10155980 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

LBWM LIMITED (REGISTERED NUMBER: 10155980)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,017,944 1,997,611
Tangible assets 5 4,716 76,599
2,022,660 2,074,210

CURRENT ASSETS
Debtors 6 2,321 582
Cash at bank and in hand 50,981 113,000
53,302 113,582
CREDITORS
Amounts falling due within one year 7 92,891 237,543
NET CURRENT LIABILITIES (39,589 ) (123,961 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,983,071 1,950,249

CREDITORS
Amounts falling due after more than one year 8 877,048 929,302
NET ASSETS 1,106,023 1,020,947

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 1,105,023 1,019,947
SHAREHOLDERS' FUNDS 1,106,023 1,020,947

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.

LBWM LIMITED (REGISTERED NUMBER: 10155980)

BALANCE SHEET - continued
30 APRIL 2024


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 1 October 2024 and were signed by:





L B Bennett - Director


LBWM LIMITED (REGISTERED NUMBER: 10155980)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

LBWM 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.

The director has made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

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 represents the amount paid in connection with the acquisition of clients in 2016, 2018, 2019 and 2024.

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.

Goodwill has not been amortised since, in the opinion of the director, there is a ready market for the company's client base. As St James's Place Wealth Management plc is listed on the UK Stock Exchange clients can be sold either to St James's Place Wealth Management or other approved St James's Place Partners.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer 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.

LBWM LIMITED (REGISTERED NUMBER: 10155980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 1,997,611
Additions 32,480
Disposals (12,147 )
At 30 April 2024 2,017,944
NET BOOK VALUE
At 30 April 2024 2,017,944
At 30 April 2023 1,997,611

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 833 6,799 85,775 20,591 113,998
Additions - 386 - 908 1,294
Disposals - - (85,775 ) - (85,775 )
At 30 April 2024 833 7,185 - 21,499 29,517
DEPRECIATION
At 1 May 2023 167 4,186 17,155 15,891 37,399
Charge for year 133 600 - 3,824 4,557
Eliminated on disposal - - (17,155 ) - (17,155 )
At 30 April 2024 300 4,786 - 19,715 24,801
NET BOOK VALUE
At 30 April 2024 533 2,399 - 1,784 4,716
At 30 April 2023 666 2,613 68,620 4,700 76,599

LBWM LIMITED (REGISTERED NUMBER: 10155980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 2,000 -
Prepayments 321 582
2,321 582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts - 5,235
Hire purchase contracts - 13,380
Trade creditors 240 -
Tax 50,612 44,674
Social security and other taxes 495 -
Other creditors 39,904 167,094
Directors' current accounts - 5,597
Accrued expenses 1,640 1,563
92,891 237,543

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts - 55,047
Other creditors 877,048 874,255
877,048 929,302

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
950 Ordinary 1 950 950
50 A Ordinary 1 50 50
1,000 1,000

10. RELATED PARTY DISCLOSURES

Mr L Bennett is the guarantor for the loans from St James's Place, which are included in notes 10 and 11 under other creditors.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LBWM LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LBWM Limited for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of LBWM Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LBWM Limited and state those matters that we have agreed to state to the director of LBWM Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LBWM Limited and its director for our work or for this report.

It is your duty to ensure that LBWM Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LBWM Limited. You consider that LBWM Limited 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 financial statements of LBWM Limited. 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 financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


1 October 2024