MILNE WEALTH MANAGEMENT LIMITED

Company Registration Number:
SC436306 (Scotland)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

MILNE WEALTH MANAGEMENT LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Directors report
Balance sheet
Additional notes
Balance sheet notes

MILNE WEALTH MANAGEMENT LIMITED

Directors' report period ended 31 December 2023

The directors present their report with the financial statements of the company for the period ended 31 December 2023

Principal activities of the company

Financial Services



Directors

The director shown below has held office during the whole of the period from
1 January 2023 to 31 December 2023

E Milne


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
13 November 2024

And signed on behalf of the board by:
Name: E Milne
Status: Director

MILNE WEALTH MANAGEMENT LIMITED

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 371,863 405,732
Tangible assets: 4 14,616 17,327
Total fixed assets: 386,479 423,059
Current assets
Debtors: 5 30,598 45,294
Cash at bank and in hand: 2,609 5,177
Total current assets: 33,207 50,471
Creditors: amounts falling due within one year: 6 ( 402,564 ) ( 437,518 )
Net current assets (liabilities): (369,357) (387,047)
Total assets less current liabilities: 17,122 36,012
Provision for liabilities: ( 1,478 ) ( 1,479 )
Total net assets (liabilities): 15,644 34,533
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 15,643 34,532
Total Shareholders' funds: 15,644 34,533

The notes form part of these financial statements

MILNE WEALTH MANAGEMENT LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 13 November 2024
and signed on behalf of the board by:

Name: E Milne
Status: Director

The notes form part of these financial statements

MILNE WEALTH MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied.

    Tangible fixed assets depreciation policy

    Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent impairment losses.

    Intangible fixed assets amortisation policy

    Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses. Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated useful lives, using the straight-line method. The intangible assets are amortised over the following useful economic lives: Goodwill 20 years If there is an indication that there has been a significant change in amortisation rate or residual value of an asset, the amortisation of that asset is revised prospectively to reflect the new expectations. If the net fair value of the identifiable assets and liabilities acquired exceeds the cost of a business combination, the excess up to the fair value of non-monetary assets acquired is recognised in profit or loss in the periods in which the non-monetary assets are recovered. Any excess exceeding the fair value of non-monetary assets acquired is recognised in profit or loss in the periods expected to be benefitted.

    Other accounting policies

    Corporation Tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

MILNE WEALTH MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 3 2

MILNE WEALTH MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 January 2023 677,710 677,710
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 677,710 677,710
Amortisation
At 1 January 2023 271,978 271,978
Charge for year 33,869 33,869
On disposals
Other adjustments
At 31 December 2023 305,847 305,847
Net book value
At 31 December 2023 371,863 371,863
At 31 December 2022 405,732 405,732

MILNE WEALTH MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 8,500 27,849 36,349
Additions
Disposals
Revaluations
Transfers
At 31 December 2023 8,500 27,849 36,349
Depreciation
At 1 January 2023 6,271 12,751 19,022
Charge for year 446 2,265 2,711
On disposals
Other adjustments
At 31 December 2023 6,717 15,016 21,733
Net book value
At 31 December 2023 1,783 12,833 14,616
At 31 December 2022 2,229 15,098 17,327

MILNE WEALTH MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 30,598 45,294
Total 30,598 45,294

MILNE WEALTH MANAGEMENT LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 36,545 43,272
Taxation and social security 26,593 47,155
Accruals and deferred income 1,080 1,080
Other creditors 338,346 346,011
Total 402,564 437,518