Registered number
14159894
RWA FP Ltd
Filleted Accounts
31 December 2024
RWA FP Ltd
Registered number: 14159894
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 5,317,635 5,967,519
Tangible assets 4 3,346 5,749
5,320,981 5,973,268
Current assets
Debtors 5 156,807 114,839
Cash at bank and in hand 75,128 107,708
231,935 222,547
Creditors: amounts falling due within one year 6 (449,538) (452,029)
Net current liabilities (217,603) (229,482)
Total assets less current liabilities 5,103,378 5,743,786
Creditors: amounts falling due after more than one year 7 (6,365,329) (6,461,750)
Net liabilities (1,261,951) (717,964)
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,262,051) (718,064)
Shareholders' funds (1,261,951) (717,964)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
William Alterman
Director
Approved by the board on 17 January 2025
RWA FP Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office and computer equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 14 14
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 6,498,876
At 31 December 2024 6,498,876
Amortisation
At 1 January 2024 531,357
Provided during the year 649,884
At 31 December 2024 1,181,241
Net book value
At 31 December 2024 5,317,635
At 31 December 2023 5,967,519
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Office equipment etc
£
Cost
At 1 January 2024 9,581
Additions 1,186
At 31 December 2024 10,767
Depreciation
At 1 January 2024 3,832
Charge for the year 3,589
At 31 December 2024 7,421
Net book value
At 31 December 2024 3,346
At 31 December 2023 5,749
5 Debtors 2024 2023
£ £
Trade debtors 152,972 111,851
Other debtors 3,835 2,988
156,807 114,839
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 96,344 96,344
Trade creditors 40,648 43,389
Taxation and social security costs 12,546 12,296
Other creditors 300,000 300,000
449,538 452,029
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,365,329 6,461,750
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 3,230,837 3,279,046
Secured bank loans 6,461,673 6,558,094
Loans are secured on the ongoing income arising from client investment plans.
9 Other information
RWA FP Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 99, Courthill House
60 Water Lane
Wilmslow
Cheshire
SK9 5AJ
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