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REGISTERED NUMBER: 10012883 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

TRUE WEALTH PLANNING SOLUTIONS LIMITED

TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRUE WEALTH PLANNING SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: T P Crew
J Baxter





REGISTERED OFFICE: Stonyroyd House
8 Cumberland Road
Leeds
West Yorkshire
LS6 2EF





REGISTERED NUMBER: 10012883 (England and Wales)





ACCOUNTANTS: Brosnans
Chartered Accountants
Birkby House
Bailiff Bridge
Brighouse
West Yorkshire
HD6 4JJ

TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,188 19,258
Investments 5 2,441,668 2,441,668
2,446,856 2,460,926

CURRENT ASSETS
Debtors 6 483,737 445,582
Cash at bank and in hand 72,586 116,803
556,323 562,385
CREDITORS
Amounts falling due within one year 7 (763,938 ) (438,765 )
NET CURRENT (LIABILITIES)/ASSETS (207,615 ) 123,620
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,239,241

2,584,546

CREDITORS
Amounts falling due after more than
one year

8

(2,188,914

)

(1,213,066

)

PROVISIONS FOR LIABILITIES - (1,353,667 )
NET ASSETS 50,327 17,813

TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

BALANCE SHEET - continued
29 FEBRUARY 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 9 122 122
Share premium 1,592,376 1,592,376
Retained earnings (1,542,171 ) (1,574,685 )
SHAREHOLDERS' FUNDS 50,327 17,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 Board of Directors and authorised for issue on 28 October 2024 and were signed on its behalf by:





T P Crew - Director


TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

True Wealth Planning Solutions Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at 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.


TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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 46 (2023 - 47 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 68,953 22,343 91,296
Additions - 2,163 2,163
At 29 February 2024 68,953 24,506 93,459
DEPRECIATION
At 1 March 2023 56,803 15,235 72,038
Charge for year 12,150 4,083 16,233
At 29 February 2024 68,953 19,318 88,271
NET BOOK VALUE
At 29 February 2024 - 5,188 5,188
At 28 February 2023 12,150 7,108 19,258

TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 2,441,668
NET BOOK VALUE
At 29 February 2024 2,441,668
At 28 February 2023 2,441,668

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Veracity Asset Transformation Service Limited
Registered office: Stonyroyd House, 8 Cumberland Rd, Leeds, England LS6 2EF
Nature of business: Financial Services
%
Class of shares: holding
Ordinary 100.00
29.2.24 28.2.23
£    £   
Aggregate capital and reserves 224,332 222,521
Profit for the year 1,811 1,519

True Wealth Management Limited
Registered office: Stonyroyd House, 8 Cumberland Rd, Leeds, England LS6 2EF
Nature of business: Financial Services
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 22,667 20,933
Profit for the year/period 1,734 2,300

TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

5. FIXED ASSET INVESTMENTS - continued

True Financial Partnerships Limited
Registered office: Stonyroyd House, 8 Cumberland Road, Leeds, United Kingdom, LS6 2EF
Nature of business: Financial Services
%
Class of shares: holding
Ordinary 100.00
29.2.24 28.2.23
£    £   
Aggregate capital and reserves (38,239 ) (39,615 )
Profit/(loss) for the year 1,376 (13,217 )

Destination Financial Planning Limited
Registered office: 5 Cloughmore Terrace, Warrenpoint, Newry, Northern Ireland, BT34 3HP
Nature of business: Financial Services
%
Class of shares: holding
Ordinary 100.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 13,841 9,975
Profit for the year 3,866 9,466

Cutter & Co Financial Planning Limited
Registered office: Stonyroyd House, 8 Cumberland Rd, Leeds, England LS6 2EF
Nature of business: Financial Services
%
Class of shares: holding
B Ordinary 51.00
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 77,427 26,156
Profit for the year 51,271 34,687

TAG Financial Planning Limited
Registered office: Stonyroyd House, 8 Cumberland Rd, Leeds, England LS6 2EF
Nature of business: Financial Services
%
Class of shares: holding
A Ordinary 67.11
31.3.24 31.3.23
£    £   
Aggregate capital and reserves 3,144 2,869
Profit for the year 275 64,701

TRUE WEALTH PLANNING SOLUTIONS LIMITED (REGISTERED NUMBER: 10012883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 4,522 500
Amounts owed by group undertakings 338,620 229,461
Other debtors 10,595 85,621
353,737 315,582

Amounts falling due after more than one year:
Amounts owed by group undertakings 130,000 130,000

Aggregate amounts 483,737 445,582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 49,742 11,884
Amounts owed to group undertakings 9,400 27,886
Taxation and social security 73,592 71,167
Other creditors 631,204 327,828
763,938 438,765

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 2,173,081 1,187,233
Other creditors 15,833 25,833
2,188,914 1,213,066

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
11,552 A Shares 0.01 116 116
618 B Shares 0.01 6 6
122 122