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REGISTERED NUMBER: SC468508 (Scotland)
















Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Cedarwood Wealth Management Ltd

Cedarwood Wealth Management Ltd (Registered number: SC468508)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cedarwood Wealth Management Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mr J D Morrison
Ms S E Morrison





REGISTERED OFFICE: c/o Gillespie & Anderson
147 Bath Street
Glasgow
G2 4SN





REGISTERED NUMBER: SC468508 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

Cedarwood Wealth Management Ltd (Registered number: SC468508)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,511 83,512

CURRENT ASSETS
Debtors 5 508,950 366,014
Investments 6 - 101,425
Cash at bank 72,262 79,016
581,212 546,455
CREDITORS
Amounts falling due within one year 7 49,213 51,900
NET CURRENT ASSETS 531,999 494,555
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,510

578,067

CREDITORS
Amounts falling due after more than one
year

8

(42,174

)

(53,169

)

PROVISIONS FOR LIABILITIES (12,637 ) (15,751 )
NET ASSETS 543,699 509,147

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 543,599 509,047
543,699 509,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Cedarwood Wealth Management Ltd (Registered number: SC468508)

Balance Sheet - continued
30 April 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





Mr J D Morrison - Director


Cedarwood Wealth Management Ltd (Registered number: SC468508)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Cedarwood Wealth Management Ltd is a private company, limited by shares , registered in Scotland. 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.

Going Concern
The company has cash resources and has no requirement for external funding. The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accountancy appropriate in preparing the annual financial statements.

Significant judgements and estimates
The Directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Directors' estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover
Turnover represents net sales of goods and services, excluding value added tax, and recognised when the company becomes entitled to the income.

Government grants
Grants are recognised when the company has complied with the attaching conditions and there is reasonable assurance that the grants will be received. They are measured at fair value. Grants relating to revenue are recognised in income on a systematic basis over the period or periods in which the entity recognises the related costs for which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

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.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Cedarwood Wealth Management Ltd (Registered number: SC468508)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of; cash at bank, debtors, and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

Employment benefits
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

Cedarwood Wealth Management Ltd (Registered number: SC468508)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 186,331
Additions 4,502
At 30 April 2024 190,833
DEPRECIATION
At 1 May 2023 102,819
Charge for year 21,503
At 30 April 2024 124,322
NET BOOK VALUE
At 30 April 2024 66,511
At 30 April 2023 83,512

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 501,940 362,307
Other debtors 7,010 3,707
508,950 366,014

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments - 101,425

The total investments within the financial statements to 30 April 2023 was comprised of a bond with Prudential, which was fully surrendered during the year to 30 April 2024.The balance as at 30 April 2023 was included within the financial statements at surrender value per Prudential's professional valuation at that date. Any gains and losses in revaluation of the investment up to the date of surrender are measured at fair value through profit and loss.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 10,994 11,589
Taxation and social security 21,001 26,687
Other creditors 17,218 13,624
49,213 51,900

Cedarwood Wealth Management Ltd (Registered number: SC468508)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 42,174 53,169

9. SECURED DEBTS

A bond and floating charge was granted by Cedarwood Wealth Management Ltd on 2 March 2023 in favour of the former shareholders of the company at that date over all and whole the property (including uncalled capital) and undertaking of Cedarwood Wealth Management Ltd.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mr J D Morrison
Balance outstanding at start of year 2 (33,183 )
Amounts advanced 378 33,624
Amounts repaid - (439 )
Amounts written off (2 ) -
Amounts waived - -
Balance outstanding at end of year 378 2

All loans are interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party for the year under review was CWMEOT Limited, whose registered address is 85 West Regent Street, Glasgow, Scotland, G2 2AW.