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REGISTERED NUMBER: 09626661 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

DMB Wealth Management Ltd

DMB Wealth Management Ltd (Registered number: 09626661)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DMB Wealth Management Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTOR: D Barber





SECRETARY: Mrs N Barber





REGISTERED OFFICE: The Old Brewery
Castle Eden
Hartlepool
TS27 4SU





REGISTERED NUMBER: 09626661 (England and Wales)





ACCOUNTANTS: APC Accountancy
Chartered Accountants
73 Gilkes Street
Middlesbrough
TS1 5EH

DMB Wealth Management Ltd (Registered number: 09626661)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 139,059 149,756
Tangible assets 5 1,672 2,402
140,731 152,158

CURRENT ASSETS
Debtors 6 16,292 694
Cash at bank 17,700 3
33,992 697
CREDITORS
Amounts falling due within one year 7 48,688 49,317
NET CURRENT LIABILITIES (14,696 ) (48,620 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

126,035

103,538

CREDITORS
Amounts falling due after more than one
year

8

(125,175

)

(91,524

)

PROVISIONS FOR LIABILITIES 10 (410 ) (456 )
NET ASSETS 450 11,558

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 350 11,458
450 11,558

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

DMB Wealth Management Ltd (Registered number: 09626661)

Balance Sheet - continued
30 June 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 14 October 2024 and were signed by:





D Barber - Director


DMB Wealth Management Ltd (Registered number: 09626661)

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

1. STATUTORY INFORMATION

DMB 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.

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 2017, is being amortised evenly over its estimated useful life of twenty 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.
Plant and machinery etc - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.

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.


DMB Wealth Management Ltd (Registered number: 09626661)

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

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 213,936
AMORTISATION
At 1 July 2023 64,180
Charge for year 10,697
At 30 June 2024 74,877
NET BOOK VALUE
At 30 June 2024 139,059
At 30 June 2023 149,756

DMB Wealth Management Ltd (Registered number: 09626661)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 4,503
DEPRECIATION
At 1 July 2023 2,101
Charge for year 730
At 30 June 2024 2,831
NET BOOK VALUE
At 30 June 2024 1,672
At 30 June 2023 2,402

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Other debtors 16,292 694

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 20,299 25,360
Trade creditors 3,376 7,250
Taxation and social security 23,650 15,037
Other creditors 1,363 1,670
48,688 49,317

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 125,175 91,524

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank Loan 137,476 102,275

.

DMB Wealth Management Ltd (Registered number: 09626661)

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

10. PROVISIONS FOR LIABILITIES
30.6.24 30.6.23
£    £   
Deferred tax 410 456

Deferred
tax
£   
Balance at 1 July 2023 456
Timing differences (46 )
Balance at 30 June 2024 410

11. RELATED PARTY DISCLOSURES

As at 30 June 2024, the director owed the company £10,594 (2023: the company owed its director £442).

Mr and Mrs Barber are also directors and shareholders of TS Mortgage Specialists Limited.

As at 30th June 2024, TS Mortgage Specialists Limited owed the company £5,542 (2023: £530)

12. ULTIMATE CONTROLLING PARTY

The controlling party is D Barber.