REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
Enver Wealth Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
Enver Wealth Management Limited |
Enver Wealth Management Limited (Registered number: 09598411) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Enver Wealth Management Limited |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Enver Wealth Management Limited (Registered number: 09598411) |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 9 |
The director acknowledges his 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. |
Enver Wealth Management Limited (Registered number: 09598411) |
Balance Sheet - continued |
31 May 2024 |
The financial statements were approved by the director and authorised for issue on |
Enver Wealth Management Limited (Registered number: 09598411) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Enver Wealth Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is measured at fair value of the consideration received or receivable and represents amounts receivable for goods supplied or services rendered, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue from the sale of goods is reconginised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measures reliably, it is proable that the associated economics's benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
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 |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Enver Wealth Management Limited (Registered number: 09598411) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
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. |
Goodwill |
Goodwill, being the the amount paid in connection with the acquisition of a business in multiple years is being amortised evenly over its estimated life of ten years. |
In 2023, the Goodwill useful life has been amended from 5 years to 10 years, to run in line with the acquisitions loans. |
Impairment |
A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date. |
Employee benefit |
The cost of short-term employee benefits are recongised as a liability and an expense, unless those costs are required to be recongise as part of the cost of stock or fixed assets. |
The cost of any material unused holiday entitlement is recongised in a period in which the employees services are received. |
Termination benefits are recongised immediately as an expense when the company is demonstrably committed to terminate the employment or to provide termination benefits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Enver Wealth Management Limited (Registered number: 09598411) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 June 2023 |
Disposals | ( |
) |
At 31 May 2024 |
AMORTISATION |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Enver Wealth Management Limited (Registered number: 09598411) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors | ( |
) |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
9. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2023 |
Profit for the year |
Dividends | ( |
) |
At 31 May 2024 |