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REGISTERED NUMBER: OC380752 (England and Wales)















Ford Wealth Management LLP

Financial Statements for the Year Ended 31 March 2024






Ford Wealth Management LLP (Registered number: OC380752)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Ford Wealth Management LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: D T Ford
Mrs A Ford



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: OC380752 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: National Westminster Bank plc
Western Avenue
Waterside Court
Chatham
Kent
ME4 4RT

Ford Wealth Management LLP (Registered number: OC380752)

Abridged Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 24,829 42,769
Tangible assets 5 10,031 13,754
34,860 56,523

CURRENT ASSETS
Debtors: amounts falling due within one year 50,313 58,819
Cash at bank 2,871 411
53,184 59,230
CREDITORS
Amounts falling due within one year 3,600 2,800
NET CURRENT ASSETS 49,584 56,430
TOTAL ASSETS LESS CURRENT LIABILITIES
and
NET ASSETS ATTRIBUTABLE TO
MEMBERS

84,444

112,953


PROVISIONS FOR LIABILITIES 10,500 10,500

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

73,944

102,453

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 73,944 102,453

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

Ford Wealth Management LLP (Registered number: OC380752)

Abridged Statement of Financial Position - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 2 September 2024 and were signed by:




D T Ford - Designated member




Mrs A Ford - Designated member


Ford Wealth Management LLP (Registered number: OC380752)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ford Wealth Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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.

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.

Client portfolios are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 33% on reducing balance
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 152,644
Disposals (14,815 )
At 31 March 2024 137,829
AMORTISATION
At 1 April 2023 109,875
Amortisation for year 13,783
Eliminated on disposal (10,658 )
At 31 March 2024 113,000
NET BOOK VALUE

At 31 March 2024 24,829
At 31 March 2023 42,769

Ford Wealth Management LLP (Registered number: OC380752)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 34,332
Additions 609
At 31 March 2024 34,941
DEPRECIATION
At 1 April 2023 20,578
Charge for year 4,332
At 31 March 2024 24,910
NET BOOK VALUE
At 31 March 2024 10,031
At 31 March 2023 13,754

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

The debt ranks last in order of priority to the other creditors.