IRIS Accounts Production v24.3.0.553 08247096 Board of Directors 1.11.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082470962023-10-31082470962024-10-31082470962023-11-012024-10-31082470962022-10-31082470962022-11-012023-10-31082470962023-10-3108247096ns15:EnglandWales2023-11-012024-10-3108247096ns14:PoundSterling2023-11-012024-10-3108247096ns10:Director12023-11-012024-10-3108247096ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3108247096ns10:SmallEntities2023-11-012024-10-3108247096ns10:AuditExempt-NoAccountantsReport2023-11-012024-10-3108247096ns10:SmallCompaniesRegimeForDirectorsReport2023-11-012024-10-3108247096ns10:SmallCompaniesRegimeForAccounts2023-11-012024-10-3108247096ns10:FullAccounts2023-11-012024-10-310824709612023-11-012024-10-3108247096ns10:Director22023-11-012024-10-3108247096ns10:RegisteredOffice2023-11-012024-10-3108247096ns5:CurrentFinancialInstruments2024-10-3108247096ns5:CurrentFinancialInstruments2023-10-3108247096ns5:ShareCapital2024-10-3108247096ns5:ShareCapital2023-10-3108247096ns5:RetainedEarningsAccumulatedLosses2024-10-3108247096ns5:RetainedEarningsAccumulatedLosses2023-10-3108247096ns5:IntangibleAssetsOtherThanGoodwill2023-11-012024-10-3108247096ns5:NetGoodwill2023-10-3108247096ns5:NetGoodwill2023-11-012024-10-3108247096ns5:NetGoodwill2024-10-3108247096ns5:NetGoodwill2023-10-3108247096ns5:PlantMachinery2023-10-3108247096ns5:PlantMachinery2023-11-012024-10-3108247096ns5:PlantMachinery2024-10-3108247096ns5:PlantMachinery2023-10-3108247096ns5:CostValuation2023-10-3108247096ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3108247096ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-31
REGISTERED NUMBER: 08247096 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Philip Black Wealth Management Limited

Philip Black Wealth Management Limited (Registered number: 08247096)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Philip Black Wealth Management Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr P Black
Mrs D L Black





REGISTERED OFFICE: Endwell Chambers
6 Endwell Road
Bexhill on Sea
East Sussex
TN40 1EA





REGISTERED NUMBER: 08247096 (England and Wales)





ACCOUNTANTS: IMG Chartered Accountants
& Business Advisors
Endwell Chambers
6 Endwell Road
Bexhill on Sea
East Sussex
TN40 1EA

Philip Black Wealth Management Limited (Registered number: 08247096)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,333,563 879,121
Tangible assets 5 2,462 3,282
Investments 6 11,000 11,000
2,347,025 893,403

CURRENT ASSETS
Debtors 7 46,727 48,412
Cash at bank 782,676 704,729
829,403 753,141
CREDITORS
Amounts falling due within one year 8 1,681,272 604,263
NET CURRENT (LIABILITIES)/ASSETS (851,869 ) 148,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,495,156

1,042,281

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,495,056 1,042,181
SHAREHOLDERS' FUNDS 1,495,156 1,042,281

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

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

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 6 February 2025 and were signed on its behalf by:



Mr P Black - Director


Philip Black Wealth Management Limited (Registered number: 08247096)

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

1. STATUTORY INFORMATION

Philip Black 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.

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.

Turnover
Turnover represents the amount of income derived from new business written in addition to amounts received on retained recurring policies.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

- Computer equipment - 25% reducing balance basis

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023 1,633,300
Additions 1,098,720
At 31 October 2024 2,732,020
AMORTISATION
At 1 November 2023 754,179
Amortisation for year (355,722 )
At 31 October 2024 398,457
NET BOOK VALUE
At 31 October 2024 2,333,563
At 31 October 2023 879,121

Philip Black Wealth Management Limited (Registered number: 08247096)

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2023
and 31 October 2024 17,138
DEPRECIATION
At 1 November 2023 13,856
Charge for year 820
At 31 October 2024 14,676
NET BOOK VALUE
At 31 October 2024 2,462
At 31 October 2023 3,282

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2023
and 31 October 2024 11,000
NET BOOK VALUE
At 31 October 2024 11,000
At 31 October 2023 11,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 46,727 48,412

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 12,423 8,686
Trade creditors 1,541 1,162
Taxation and social security 135,068 72,604
Other creditors 1,532,240 521,811
1,681,272 604,263

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr P Black.

The company is controlled by the director Mr P Black via his majority shareholding.