Acorah Software Products - Accounts Production 14.5.601 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 OC351213 Mrs Melaney Pathmanathan Mr Andrew Price Mr Gary Picton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure OC351213 2023-01-31 OC351213 2024-01-31 OC351213 2023-02-01 2024-01-31 OC351213 frs-core:CurrentFinancialInstruments 2024-01-31 OC351213 frs-core:Non-currentFinancialInstruments 2024-01-31 OC351213 frs-core:ComputerEquipment 2024-01-31 OC351213 frs-core:ComputerEquipment 2023-02-01 2024-01-31 OC351213 frs-core:ComputerEquipment 2023-01-31 OC351213 frs-core:FurnitureFittings 2024-01-31 OC351213 frs-core:FurnitureFittings 2023-02-01 2024-01-31 OC351213 frs-core:FurnitureFittings 2023-01-31 OC351213 frs-core:MotorVehicles 2024-01-31 OC351213 frs-core:MotorVehicles 2023-02-01 2024-01-31 OC351213 frs-core:MotorVehicles 2023-01-31 OC351213 frs-core:PlantMachinery 2024-01-31 OC351213 frs-core:PlantMachinery 2023-02-01 2024-01-31 OC351213 frs-core:PlantMachinery 2023-01-31 OC351213 frs-bus:LimitedLiabilityPartnershipLLP 2023-02-01 2024-01-31 OC351213 frs-bus:LimitedLiabilityPartnershipsSORP 2023-02-01 2024-01-31 OC351213 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 OC351213 frs-bus:SmallEntities 2023-02-01 2024-01-31 OC351213 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 OC351213 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 OC351213 frs-countries:EnglandWales 2023-02-01 2024-01-31 OC351213 frs-bus:PartnerLLP1 2023-02-01 2024-01-31 OC351213 frs-bus:PartnerLLP2 2023-02-01 2024-01-31 OC351213 frs-bus:PartnerLLP3 2023-02-01 2024-01-31 OC351213 2022-01-31 OC351213 2023-01-31 OC351213 2022-02-01 2023-01-31 OC351213 frs-core:CurrentFinancialInstruments 2023-01-31 OC351213 frs-core:Non-currentFinancialInstruments 2023-01-31
Registered number: OC351213
AMG Wealth Solutions LLP
Unaudited Financial Statements
For The Year Ended 31 January 2024
Xeinadin South Wales & West Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: OC351213
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,701 2,962
1,701 2,962
CURRENT ASSETS
Debtors 5 78,517 74,004
Cash at bank and in hand 146,435 174,029
224,952 248,033
Creditors: Amounts Falling Due Within One Year 6 (38,296 ) (36,140 )
NET CURRENT ASSETS (LIABILITIES) 186,656 211,893
TOTAL ASSETS LESS CURRENT LIABILITIES 188,357 214,855
Creditors: Amounts Falling Due After More Than One Year 7 (23,333 ) (33,333 )
PROVISIONS FOR LIABILITIES
Provisions For Charges - (30,307 )
NET ASSETS ATTRIBUTABLE TO MEMBERS 165,024 151,215
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 103,992 90,183
103,992 90,183
Equity
Members' other interests
Other reserves 61,032 61,032
61,032 61,032
165,024 151,215
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 103,992 90,183
Members' other interests 61,032 61,032
165,024 151,215
Page 1
Page 2
For the year ending 31 January 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mrs Melaney Pathmanathan
Designated Member
Mr Andrew Price
Designated Member
Mr Gary Picton
Designated Member
10/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
AMG Wealth Solutions LLP is a limited liability partnership, incorporated in England & Wales, registered number OC351213 . The Registered Office is 7 Heol-Y-Deri, Rhiwbina, Cardiff, South Glamorgan, CF14 6HA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance Basis
Motor Vehicles 25% Reducing Balance Basis
Fixtures & Fittings 25% Reducing Balance Basis
Computer Equipment 33% Straight Line Basis
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the LLP. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Pensions
The LLP operates a defined pension contribution scheme. Contributions are charged to the Profit and Loss Account as they become payable in accordance with the rules of the scheme.
Page 3
Page 4
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the year was:
2024 2023
Office and administration 3 4
3 4
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 February 2023 3,961 21,605 4,907 35,269 65,742
As at 31 January 2024 3,961 21,605 4,907 35,269 65,742
Depreciation
As at 1 February 2023 3,680 20,920 4,048 34,132 62,780
Provided during the period 70 171 215 805 1,261
As at 31 January 2024 3,750 21,091 4,263 34,937 64,041
Net Book Value
As at 31 January 2024 211 514 644 332 1,701
As at 1 February 2023 281 685 859 1,137 2,962
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 77,517 72,761
Prepayments and accrued income 1,000 1,243
78,517 74,004
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 34,888 33,104
Accruals and deferred income 3,408 3,036
38,296 36,140
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 23,333 33,333
Page 5