Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-01No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.23truetruefalse 11746652 2023-02-01 2024-01-31 11746652 2022-02-01 2023-01-31 11746652 2024-01-31 11746652 2023-01-31 11746652 c:Director1 2023-02-01 2024-01-31 11746652 d:FurnitureFittings 2023-02-01 2024-01-31 11746652 d:FurnitureFittings 2024-01-31 11746652 d:FurnitureFittings 2023-01-31 11746652 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11746652 d:Goodwill 2023-02-01 2024-01-31 11746652 d:Goodwill 2024-01-31 11746652 d:Goodwill 2023-01-31 11746652 d:CurrentFinancialInstruments 2024-01-31 11746652 d:CurrentFinancialInstruments 2023-01-31 11746652 d:Non-currentFinancialInstruments 2024-01-31 11746652 d:Non-currentFinancialInstruments 2023-01-31 11746652 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11746652 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11746652 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 11746652 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 11746652 d:ShareCapital 2024-01-31 11746652 d:ShareCapital 2023-01-31 11746652 d:RetainedEarningsAccumulatedLosses 2024-01-31 11746652 d:RetainedEarningsAccumulatedLosses 2023-01-31 11746652 c:FRS102 2023-02-01 2024-01-31 11746652 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11746652 c:FullAccounts 2023-02-01 2024-01-31 11746652 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11746652 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-02-01 2024-01-31 11746652 2 2023-02-01 2024-01-31 11746652 6 2023-02-01 2024-01-31 11746652 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 11746652 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 11746652









HAYEK WEALTH MANAGEMENT LTD







UNAUDITED

DIRECTORS REPORT AND FINANCIAL STATMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
HAYEK WEALTH MANAGEMENT LTD
REGISTERED NUMBER: 11746652

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2024
2023
2023
£
£
£
£

Fixed assets
  

Intangible assets
 4 
3,100
2,750

Tangible assets
 5 
964
1,285

Investments
 6 
7,200
-

  
11,264
4,035

Current assets
  

Debtors: amounts falling due within one year
 7 
225,805
116,564

Cash at bank and in hand
 8 
29,642
10,369

  
255,447
126,933

Creditors: amounts falling due within one year
 9 
(65,790)
(74,037)

Net current assets
  
 
 
189,657
 
 
52,896

Total assets less current liabilities
  
200,921
56,931

Creditors: amounts falling due after more than one year
 10 
(43,084)
(47,817)

  

Net assets
  
157,837
9,114


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
157,737
9,014

  
157,837
9,114


Page 1

 
HAYEK WEALTH MANAGEMENT LTD
REGISTERED NUMBER: 11746652
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A J Hayek
Director

Date: 30 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HAYEK WEALTH MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Hayek Wealth Management Limited is a private company limited by shares. The company is incorporated in England and Wales and the adress of its registered office is Aston House, Cornwall Avenue, London, N3 1LF. The registered number is 11746652.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
HAYEK WEALTH MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
HAYEK WEALTH MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
HAYEK WEALTH MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.14

Dividends

Dividends are recognised when they become legally payable.


3.


Employees

2024
2023
£
£

Wages and salaries
52,605
44,088

Cost of defined contribution scheme
362
173

52,967
44,261


The average monthly number of employees, including directors, during the year was 2 (2023 - 3).


4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
12,348


Additions
4,650



At 31 January 2024

16,998



Amortisation


At 1 February 2023
9,598


Charge for the year on owned assets
4,300



At 31 January 2024

13,898



Net book value



At 31 January 2024
3,100



At 31 January 2023
2,750



Page 6

 
HAYEK WEALTH MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 February 2023
2,152



At 31 January 2024

2,152



Depreciation


At 1 February 2023
867


Charge for the year on owned assets
321



At 31 January 2024

1,188



Net book value



At 31 January 2024
964



At 31 January 2023
1,285


6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


Additions
7,200



At 31 January 2024
7,200




Page 7

 
HAYEK WEALTH MANAGEMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
8,086
11,293

Other debtors
217,719
78,918

Tax recoverable
-
26,353

225,805
116,564



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
29,642
10,369



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
50,724
64,142

Other taxation and social security
10,935
6,729

Other creditors
131
166

Accruals and deferred income
4,000
3,000

65,790
74,037



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
43,084
47,817


 
Page 8