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REGISTERED NUMBER: SC750486 (Scotland)









Unaudited Financial Statements

for the Period 15 November 2022 to 30 November 2023

for

CNB Wealth Management Limited

CNB Wealth Management Limited (Registered number: SC750486)






Contents of the Financial Statements
for the period 15 November 2022 to 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

CNB Wealth Management Limited

Company Information
for the period 15 November 2022 to 30 November 2023







DIRECTOR: C Brown





REGISTERED OFFICE: 19 Glasgow Road
Paisley
PA1 3QX





REGISTERED NUMBER: SC750486 (Scotland)





ACCOUNTANTS: McLaren Ross
19 Glasgow Road
Paisley
PA1 3QX

CNB Wealth Management Limited (Registered number: SC750486)

Balance Sheet
30 November 2023

Notes £    £   
FIXED ASSETS
Intangible assets 4 608,786

CURRENT ASSETS
Debtors 5 8,558
Cash at bank 734
9,292
CREDITORS
Amounts falling due within one year 6 300,736
NET CURRENT LIABILITIES (291,444 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

317,342

CREDITORS
Amounts falling due after more than one year 7 314,045
NET ASSETS 3,297

RESERVES
Retained earnings 3,297
3,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2023 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.

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 29 August 2024 and were signed by:





C Brown - Director


CNB Wealth Management Limited (Registered number: SC750486)

Notes to the Financial Statements
for the period 15 November 2022 to 30 November 2023

1. STATUTORY INFORMATION

CNB Wealth Management Limited is a private company, limited by shares , registered in Scotland. 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 2023, 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.

Taxation
Taxation for the period 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

CNB Wealth Management Limited (Registered number: SC750486)

Notes to the Financial Statements - continued
for the period 15 November 2022 to 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 640,827
At 30 November 2023 640,827
AMORTISATION
Charge for period 32,041
At 30 November 2023 32,041
NET BOOK VALUE
At 30 November 2023 608,786

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 8,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 48,400
Taxation and social security 18,219
Other creditors 234,117
300,736

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Bank loans 246,035
Other creditors 68,010
314,045

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 52,434
Other loans more 5yrs instal 7,482
59,916

CNB Wealth Management Limited (Registered number: SC750486)

Notes to the Financial Statements - continued
for the period 15 November 2022 to 30 November 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following loan from the Company's a director subsisted during the period ended 30 November 2023:

£   
C Brown
Balance outstanding at start of period -
Amounts advanced 19,504
Amounts repaid (235,692 )
Amounts written off -
Amounts waived -
Balance outstanding at end of period (216,188 )

9. RELATED PARTY DISCLOSURES

During the period, total dividends of £30,000 were paid to the director .

The Company's director has advanced a loan to the Company. At 30 November 2023, the Company owed it's director £216,188. This loan is interest free and has no fixed repayment date.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
CNB Wealth Management 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 CNB Wealth Management Limited for the period ended 30 November 2023 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of CNB Wealth Management Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of CNB Wealth Management Limited and state those matters that we have agreed to state to the director of CNB Wealth Management Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that CNB Wealth Management 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 CNB Wealth Management Limited. You consider that CNB Wealth Management Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of CNB Wealth Management 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.






McLaren Ross
19 Glasgow Road
Paisley
PA1 3QX


29 August 2024