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Registration number: 10901261

Arley Wealth Management Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Arley Wealth Management Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Arley Wealth Management Limited

(Registration number: 10901261)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

777,262

457,105

Tangible assets

5

1,804

2,980

Investments

-

412,162

 

779,066

872,247

Current assets

 

Debtors

6

6,295

14,380

Cash at bank and in hand

 

15,035

12,501

 

21,330

26,881

Creditors: Amounts falling due within one year

7

(199,187)

(148,714)

Net current liabilities

 

(177,857)

(121,833)

Total assets less current liabilities

 

601,209

750,414

Creditors: Amounts falling due after more than one year

7

(432,864)

(538,146)

Provisions for liabilities

(451)

(745)

Net assets

 

167,894

211,523

Capital and reserves

 

Called up share capital

100

100

Retained earnings

167,794

211,423

Shareholders' funds

 

167,894

211,523

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

 

Arley Wealth Management Limited

(Registration number: 10901261)
Balance Sheet as at 31 August 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mr R A Higgins
Director

 

Arley Wealth Management Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover represents income from commissions and introductory fees. Turnover is recognised when the cases are complete and the income has been received.

Tax

The tax expense for the period comprises current and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Arley Wealth Management Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and computer equipment

25% reducing balance/ straight line over 3 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Arley Wealth Management Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

507,895

507,895

Additions

412,162

412,162

At 31 August 2024

920,057

920,057

Amortisation

At 1 September 2023

50,790

50,790

Amortisation charge

92,005

92,005

At 31 August 2024

142,795

142,795

Carrying amount

At 31 August 2024

777,262

777,262

At 31 August 2023

457,105

457,105

5

Tangible assets

Fixtures, fittings and computer equipment
 £

Total
£

Cost or valuation

At 1 September 2023

11,712

11,712

At 31 August 2024

11,712

11,712

Depreciation

At 1 September 2023

8,731

8,731

Charge for the year

1,177

1,177

At 31 August 2024

9,908

9,908

Carrying amount

At 31 August 2024

1,804

1,804

At 31 August 2023

2,980

2,980

 

Arley Wealth Management Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,511

13,430

Prepayments

784

950

 

6,295

14,380

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

 

96,009

89,060

Trade creditors

 

940

1,170

Taxation and social security

 

520

492

Other creditors

 

101,718

57,992

 

199,187

148,714

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

382,770

478,348

Other creditors

 

50,094

59,798

 

432,864

538,146

The loans are secured by way of a personal guarantee provided by the director and a fixed and floating charge covering all property or undertaking of the company.