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REGISTERED NUMBER: 09598411















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: E Enver





REGISTERED OFFICE: Building 3
North London Business Park
Oakleigh Road South
London
N11 1GN





REGISTERED NUMBER: 09598411






Enver Wealth Management Limited (Registered number: 09598411)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,715,159 3,038,632
Tangible assets 5 20,533 23,956
2,735,692 3,062,588

CURRENT ASSETS
Debtors 6 1,073,560 1,071,908
Cash at bank 474,703 391,664
1,548,263 1,463,572
CREDITORS
Amounts falling due within one year 7 619,663 851,443
NET CURRENT ASSETS 928,600 612,129
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,664,292

3,674,717

CREDITORS
Amounts falling due after more than
one year

8

2,468,542

2,554,514
NET ASSETS 1,195,750 1,120,203

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 9 1,195,749 1,120,202
1,195,750 1,120,203

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2025 and were signed by:





E Enver - Director


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 private company, limited by shares , registered in Not specified/Other. 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 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
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% on reducing balance and not provided

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 16 (2023 - 12 ) .

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 4,042,667
Disposals (31,127 )
At 31 May 2024 4,011,540
AMORTISATION
At 1 June 2023 1,004,035
Charge for year 301,684
Eliminated on disposal (9,338 )
At 31 May 2024 1,296,381
NET BOOK VALUE
At 31 May 2024 2,715,159
At 31 May 2023 3,038,632

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 33,007
Additions 2,230
At 31 May 2024 35,237
DEPRECIATION
At 1 June 2023 9,051
Charge for year 5,653
At 31 May 2024 14,704
NET BOOK VALUE
At 31 May 2024 20,533
At 31 May 2023 23,956

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 100,903 109,251
Amounts owed by group undertakings 972,657 962,657
1,073,560 1,071,908

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 446,995 684,152
Trade creditors 5,897 (1 )
Amounts owed to group undertakings 5,331 -
Taxation and social security 134,594 129,515
Other creditors 26,846 37,777
619,663 851,443

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 2,468,542 2,554,514

9. RESERVES
Retained
earnings
£   

At 1 June 2023 1,120,202
Profit for the year 77,047
Dividends (1,500 )
At 31 May 2024 1,195,749