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REGISTERED NUMBER: 07390091 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MCKENZIE WEALTH MANAGEMENT LTD

MCKENZIE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07390091)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MCKENZIE WEALTH MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R E McKenzie
E J McKenzie
T L Johnson
J N Johnson
J I Atkinson
E M Atkinson





REGISTERED OFFICE: 3 Kingsmead Terrace
Bath
BA1 1UX





REGISTERED NUMBER: 07390091 (England and Wales)





ACCOUNTANTS: Berkeley Hall Marshall Limited
6 Charlotte Street
Bath
BA1 2NE

MCKENZIE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07390091)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,097,458 4,709,909
Tangible assets 5 13,139 17,118
5,110,597 4,727,027

CURRENT ASSETS
Debtors 6 267,103 437,253
Cash at bank 6 -
267,109 437,253
CREDITORS
Amounts falling due within one year 7 1,156,330 1,246,191
NET CURRENT LIABILITIES (889,221 ) (808,938 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,221,376

3,918,089

CREDITORS
Amounts falling due after more than one
year

8

4,191,631

3,727,960
NET ASSETS 29,745 190,129

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 29,645 190,029
SHAREHOLDERS' FUNDS 29,745 190,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

MCKENZIE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07390091)

BALANCE SHEET - continued
31 MARCH 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





R E McKenzie - Director


MCKENZIE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07390091)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

McKenzie Wealth Management Ltd 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.

Whilst the balance sheet is showing net current liabilities, the directors, who are also the 100% shareholders, have prepared the accounts on the going concern basis.The directors will continue to provide the necessary financial support during at least the next twelve months from the date of signing the accounts.

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, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

MCKENZIE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07390091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023 5,448,667
Additions 655,837
At 31 March 2024 6,104,504
AMORTISATION
At 1 April 2023 738,758
Charge for year 268,288
At 31 March 2024 1,007,046
NET BOOK VALUE
At 31 March 2024 5,097,458
At 31 March 2023 4,709,909

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 47,505
Additions 400
At 31 March 2024 47,905
DEPRECIATION
At 1 April 2023 30,387
Charge for year 4,379
At 31 March 2024 34,766
NET BOOK VALUE
At 31 March 2024 13,139
At 31 March 2023 17,118

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 232,204 240,797
Other debtors 34,899 196,456
267,103 437,253

MCKENZIE WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 07390091)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 550,622 544,143
Trade creditors 243,510 147,725
Taxation and social security 352,273 469,875
Other creditors 9,925 84,448
1,156,330 1,246,191

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,191,631 3,727,960