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Registered number: 07470266
Bradnam Wealth Management (UK) Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Clairwood Accounting LLP
19 Napier House
Elva Way
Bexhill-on-Sea
East Sussex
TN39 5BF
Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 07470266
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 367,897 491,688
Tangible Assets 5 122,805 42,049
Investments 6 447 357
491,149 534,094
CURRENT ASSETS
Debtors 3,003,352 2,977,983
Cash at bank and in hand 53,367 4,469
3,056,719 2,982,452
Creditors: Amounts Falling Due Within One Year (122,312 ) (276,234 )
NET CURRENT ASSETS (LIABILITIES) 2,934,407 2,706,218
TOTAL ASSETS LESS CURRENT LIABILITIES 3,425,556 3,240,312
PROVISIONS FOR LIABILITIES
Deferred Taxation (29,803 ) (9,417 )
NET ASSETS 3,395,753 3,230,895
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 3,395,653 3,230,795
SHAREHOLDERS' FUNDS 3,395,753 3,230,895
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Gavin Bradnam
Director
21 November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Bradnam Wealth Management (UK) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07470266 . The registered office is Laurel House, 11 St Peters Road, Broadstairs, Kent, CT10 2AG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Motor Vehicles written down to market value
Computer Equipment 25% on the written down value
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
Page 3
Page 4
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 1,237,941
As at 31 March 2024 1,237,941
Amortisation
As at 1 April 2023 746,253
Provided during the period 123,791
As at 31 March 2024 870,044
Net Book Value
As at 31 March 2024 367,897
As at 1 April 2023 491,688
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 123,122
Additions 161,081
As at 31 March 2024 284,203
Depreciation
As at 1 April 2023 81,073
Provided during the period 80,325
As at 31 March 2024 161,398
Net Book Value
As at 31 March 2024 122,805
As at 1 April 2023 42,049
6. Investments
Total
£
Cost
As at 1 April 2023 357
Additions 90
As at 31 March 2024 447
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 447
As at 1 April 2023 357
Page 4
Page 5
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5