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REGISTERED NUMBER: 13651446 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Hill Johnstone Wealth Management Limited

Hill Johnstone Wealth Management Limited (Registered number: 13651446)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hill Johnstone Wealth Management Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr A D Johnstone





REGISTERED OFFICE: Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ





REGISTERED NUMBER: 13651446 (England and Wales)





ACCOUNTANTS: Crowther Chartered Accountants
Abacus House
Pennine Business Park
Longbow Close
Huddersfield
West Yorkshire
HD2 1GQ

Hill Johnstone Wealth Management Limited (Registered number: 13651446)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 1,241,218 1,501,254
Tangible assets 5 30,264 40,405
Investments 6 4,445,055 4,445,055
5,716,537 5,986,714

CURRENT ASSETS
Debtors 7 173,389 372,466
Cash at bank 105 2,864
173,494 375,330
CREDITORS
Amounts falling due within one year 8 1,536,475 1,844,435
NET CURRENT LIABILITIES (1,362,981 ) (1,469,105 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,353,556

4,517,609

CREDITORS
Amounts falling due after more than one
year

9

(4,190,570

)

(4,095,408

)

PROVISIONS FOR LIABILITIES (7,566 ) (10,101 )
NET ASSETS 155,420 412,100

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 155,320 412,000
SHAREHOLDERS' FUNDS 155,420 412,100

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

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

Hill Johnstone Wealth Management Limited (Registered number: 13651446)

Balance Sheet - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 February 2025 and were signed by:





Mr A D Johnstone - Director


Hill Johnstone Wealth Management Limited (Registered number: 13651446)

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

1. STATUTORY INFORMATION

Hill Johnstone 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Hill Johnstone Wealth Management Limited (Registered number: 13651446)

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

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 August 2023 1,798,637
Disposals (78,073 )
At 31 July 2024 1,720,564
AMORTISATION
At 1 August 2023 297,383
Amortisation for year 201,963
Eliminated on disposal (20,000 )
At 31 July 2024 479,346
NET BOOK VALUE
At 31 July 2024 1,241,218
At 31 July 2023 1,501,254

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 August 2023 8,036 46,728 8,733 63,497
Additions - - 1,311 1,311
At 31 July 2024 8,036 46,728 10,044 64,808
DEPRECIATION
At 1 August 2023 1,573 17,523 3,996 23,092
Charge for year 970 7,301 3,181 11,452
At 31 July 2024 2,543 24,824 7,177 34,544
NET BOOK VALUE
At 31 July 2024 5,493 21,904 2,867 30,264
At 31 July 2023 6,463 29,205 4,737 40,405

Included within the net book value above is £21,904 (2023 - £29,205), which relates to assets held under hire purchase agreements. The depreciation charge to the financial statements in the year in respect of such assets amounted to £7,301 (2023 - £11,682)

Hill Johnstone Wealth Management Limited (Registered number: 13651446)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1 August 2023
and 31 July 2024 4,445,055
NET BOOK VALUE
At 31 July 2024 4,445,055
At 31 July 2023 4,445,055

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade debtors 46,617 53,005
Other debtors - 4,604
Directors' loan accounts 126,772 314,857
173,389 372,466

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Other loans (see note 10) 836,674 1,166,968
Hire purchase contracts 5,477 16,461
Amounts owed to associates 77,842 116,657
Tax 286,072 221,774
Social security and other tax 18,961 7,637
Pension liability 2,522 1,188
Other creditors 305,525 310,525
Accrued expenses 3,402 3,225
1,536,475 1,844,435

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£ £
Other loans (see note 10) 4,190,570 4,089,931
Hire purchase contracts - 5,477
4,190,570 4,095,408

Hill Johnstone Wealth Management Limited (Registered number: 13651446)

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

10. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£ £
Amounts falling due within one year or on demand:
Other loans 182,954 513,248
Preference shares 653,720 653,720
836,674 1,166,968

Amounts falling due between one and two years:
Other loans - 1-2 years 4,190,570 4,089,931

11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£ £
Hire purchase contracts 5,477 21,938

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.07.2431.07.23
££
Director 1
Balance outstanding at start of year314,857205,125
Amounts advanced207,247335,345
Amounts repaid(392,460)(225,613)
Amounts written off--
Amounts waived--
Balance outstanding at end of year129,644314,857

13. RELATED PARTY DISCLOSURES

Hill Johnstone Limited
A wholly owned subsidiary.

At the balance sheet date the company owed £77,842 (2023 - £116,357) to Hill Johnstone Limited.

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mr A D Johnstone.