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REGISTERED NUMBER: 08181768 (England and Wales)















Financial Statements

for the Year Ended 31 March 2024

for

New Forest Wealth Management Limited

New Forest Wealth Management Limited (Registered number: 08181768)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


New Forest Wealth Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Johnson
VA Hodgson





REGISTERED OFFICE: Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA





REGISTERED NUMBER: 08181768 (England and Wales)





ACCOUNTANTS: Wilson Partners Limited
Chancery House
30 St Johns Road
Woking
Surrey
GU21 7SA

New Forest Wealth Management Limited (Registered number: 08181768)

Statement of Financial Position
31 March 2024

31/3/24 31/3/23
as restated
Notes £    £   
FIXED ASSETS
Intangible assets 5 2,828,036 2,985,638
Property, plant and equipment 6 16,078 37,488
Investments 7 11,613 30,275
2,855,727 3,053,401

CURRENT ASSETS
Debtors 8 140,739 160,961
Cash at bank 223,109 332,385
363,848 493,346
CREDITORS
Amounts falling due within one year 9 (917,826 ) (650,143 )
NET CURRENT LIABILITIES (553,978 ) (156,797 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,301,749

2,896,604

CREDITORS
Amounts falling due after more than one
year

10

(1,364,631

)

(1,943,084

)
NET ASSETS 937,118 953,520

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 12 - 9,138
Retained earnings 937,018 944,282
SHAREHOLDERS' FUNDS 937,118 953,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

New Forest Wealth Management Limited (Registered number: 08181768)

Statement of Financial Position - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





A Johnson - Director


New Forest Wealth Management Limited (Registered number: 08181768)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

New Forest Wealth Management 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is in a net current liabilities position at 31 March 2024. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill relates to the acquisition of books of clients from other wealth management companies and is initially measured at cost based on the amount paid for the underlying client relationships. Goodwill is being amortised evenly over its estimated useful life of 10 years to an estimated residual value. Acquisitions are from both sole trader and partnerships as well as of limited companies themselves. When a purchase of shares in a limited company occurs, the trade and assets of that company are immediately hived up and on hive up the investment, less the fair value of the net assets, is restated to be goodwill.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on reducing balance
Computer equipment - 33% on reducing balance

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 statement of financial position date.


New Forest Wealth Management Limited (Registered number: 08181768)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 19 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 April 2023 3,335,125
Disposals (26,766 )
At 31 March 2024 3,308,359
Amortisation
At 1 April 2023 349,487
Charge for year 133,771
Eliminated on disposal (2,935 )
At 31 March 2024 480,323
Net book value
At 31 March 2024 2,828,036
At 31 March 2023 2,985,638

New Forest Wealth Management Limited (Registered number: 08181768)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2023 16,796 79,112 19,919 115,827
Additions - 590 4,980 5,570
At 31 March 2024 16,796 79,702 24,899 121,397
Depreciation
At 1 April 2023 9,566 54,504 14,269 78,339
Charge for year 4,343 19,132 3,505 26,980
At 31 March 2024 13,909 73,636 17,774 105,319
Net book value
At 31 March 2024 2,887 6,066 7,125 16,078
At 31 March 2023 7,230 24,608 5,650 37,488

7. FIXED ASSET INVESTMENTS
Other
investments
£   
Cost or valuation
At 1 April 2023 30,275
Revaluations (18,662 )
At 31 March 2024 11,613
Net book value
At 31 March 2024 11,613
At 31 March 2023 30,275

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2022 9,138
Valuation in 2023 (5,938 )
Valuation in 2024 (18,662 )
Cost 27,075
11,613

New Forest Wealth Management Limited (Registered number: 08181768)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
as restated
£    £   
Trade debtors 79,634 154,856
Other debtors 61,105 6,105
140,739 160,961

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
as restated
£    £   
Trade creditors 19,108 7,203
Taxation and social security 83,363 106,380
Other creditors 815,355 536,560
917,826 650,143

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
as restated
£    £   
Other creditors 1,364,631 1,943,084

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 490,161 757,045

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/3/24 31/3/23
as restated
£    £   
Within one year 14,669 14,669
Between one and five years 1,754 2,923
16,423 17,592

12. RESERVES
Fair
value
reserve
£   
At 1 April 2023 9,138
Transfer (9,138 )

At 31 March 2024 -