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REGISTERED NUMBER: 08285494 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LG WEALTH MANAGEMENT LTD

LG WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08285494)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LG WEALTH MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: L J Garley
H P Garley
J W Garley





REGISTERED OFFICE: Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL





REGISTERED NUMBER: 08285494 (England and Wales)





ACCOUNTANTS: RJP LLP
Ground Floor
Egerton House
68 Baker Street
Weybridge
Surrey
KT13 8AL

LG WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08285494)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 20,835
Tangible assets 5 40 822
40 21,657

CURRENT ASSETS
Debtors 6 16,703 15,052
Cash at bank 50,782 52,048
67,485 67,100
CREDITORS
Amounts falling due within one year 7 30,126 18,681
NET CURRENT ASSETS 37,359 48,419
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,399

70,076

PROVISIONS FOR LIABILITIES 8 10 185
NET ASSETS 37,389 69,891

CAPITAL AND RESERVES
Called up share capital 9 150 150
Retained earnings 37,239 69,741
SHAREHOLDERS' FUNDS 37,389 69,891

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

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




L J Garley - Director


LG WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08285494)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

LG Wealth Management Ltd 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 sales of financial consultancy fees. Turnover is recognised in the period in which financial advice is provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of twelve years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33.33% on cost and 20% on cost

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 balance sheet date.

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.

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 2 (2023 - 2 ) .

LG WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08285494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 250,000
AMORTISATION
At 1 January 2024 229,165
Charge for year 20,835
At 31 December 2024 250,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 20,835

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 12,899
DEPRECIATION
At 1 January 2024 12,077
Charge for year 782
At 31 December 2024 12,859
NET BOOK VALUE
At 31 December 2024 40
At 31 December 2023 822

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 15,860 14,346
Other debtors 843 706
16,703 15,052

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Taxation and social security 19,530 9,356
Other creditors 10,596 9,325
30,126 18,681

LG WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 08285494)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 10 185

Deferred
tax
£   
Balance at 1 January 2024 185
Provided during year (175 )
Balance at 31 December 2024 10

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
50 A Ordinary £1.00 50 50
50 B Ordinary £1.00 50 50
50 C Ordinary £1.00 50 50
150 150

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24 31.12.23
£    £   
Director
Balance outstanding at start of year (4,745 ) (4,220 )
Amounts advanced 40,180 38,000
Amounts repaid (40,516 ) (38,525 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (5,081 ) (4,745 )

Director
Balance outstanding at start of year (876 ) (876 )
Amounts advanced 19,000 16,000
Amounts repaid (19,000 ) (16,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (876 ) (876 )

Director
Balance outstanding at start of year (1,373 ) (1,042 )
Amounts advanced 38,000 35,000
Amounts repaid (38,406 ) (35,331 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,779 ) (1,373 )

The loans are interest free.