Company registration number 02393191 (England and Wales)
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
Mr I Henderson
Mr I T S Carswell
Company number
02393191
Registered office
3 St James Street
Newcastle upon Tyne
Tyne and Wear
NE1 4NF
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,674
167
Current assets
Debtors
4
16,541
17,277
Cash at bank and in hand
124,318
132,185
140,859
149,462
Creditors: amounts falling due within one year
5
(41,749)
(47,845)
Net current assets
99,110
101,617
Total assets less current liabilities
101,784
101,784
Provisions for liabilities
6
(669)
(42)
Net assets
101,115
101,742
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
100,115
100,742
Total equity
101,115
101,742

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 March 2025 and are signed on its behalf by:
Mr I Henderson
Director
Company registration number 02393191 (England and Wales)
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Henry F. Dodds Wealth Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 St James Street, Newcastle upon Tyne, Tyne and Wear, NE1 4NF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in UK sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents commissions and fees received during the year.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% reducing balance
Computer equipment
25% straightline

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

HENRY F. DODDS WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

 

Current and deferred taxation assets and liabilities are not discounted.

Current tax

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 the 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 tat they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.7
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss in the period to which they relate.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

HENRY F. DODDS WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
1.9

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probably that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 July 2023
3,660
17,159
20,819
Additions
-
0
2,682
2,682
At 30 June 2024
3,660
19,841
23,501
Depreciation and impairment
At 1 July 2023
3,579
17,073
20,652
Depreciation charged in the year
20
155
175
At 30 June 2024
3,599
17,228
20,827
Carrying amount
At 30 June 2024
61
2,613
2,674
At 30 June 2023
81
86
167
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
12,828
12,828
Prepayments and accrued income
3,713
4,449
16,541
17,277
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
422
Other taxation and social security
1,998
2,061
Accruals and deferred income
39,751
45,362
41,749
47,845
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
7
669
42
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
669
42
2024
Movements in the year:
£
Liability at 1 July 2023
42
Charge to profit or loss
627
Liability at 30 June 2024
669
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1,000
1,000
1,000
1,000
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
367
672
HENRY F. DODDS WEALTH MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Rent payable
2024
2023
£
£
Other related parties
10,000
5,833
Other information

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

2024-06-302023-07-01falsefalsefalse19 March 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr I HendersonMr I T S Carswell023931912023-07-012024-06-3002393191bus:Director12023-07-012024-06-3002393191bus:Director22023-07-012024-06-3002393191bus:RegisteredOffice2023-07-012024-06-30023931912024-06-30023931912023-06-3002393191core:FurnitureFittings2024-06-3002393191core:ComputerEquipment2024-06-3002393191core:FurnitureFittings2023-06-3002393191core:ComputerEquipment2023-06-3002393191core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3002393191core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3002393191core:CurrentFinancialInstruments2024-06-3002393191core:CurrentFinancialInstruments2023-06-3002393191core:ShareCapital2024-06-3002393191core:ShareCapital2023-06-3002393191core:RetainedEarningsAccumulatedLosses2024-06-3002393191core:RetainedEarningsAccumulatedLosses2023-06-3002393191core:FurnitureFittings2023-07-012024-06-3002393191core:ComputerEquipment2023-07-012024-06-30023931912022-07-012023-06-3002393191core:FurnitureFittings2023-06-3002393191core:ComputerEquipment2023-06-30023931912023-06-3002393191bus:PrivateLimitedCompanyLtd2023-07-012024-06-3002393191bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3002393191bus:FRS1022023-07-012024-06-3002393191bus:AuditExemptWithAccountantsReport2023-07-012024-06-3002393191bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP