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REGISTERED NUMBER: 09621739 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

PENVEARN WEALTH MANAGEMENT LTD

PENVEARN WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 09621739)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PENVEARN WEALTH MANAGEMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Mrs N Trudgeon





REGISTERED OFFICE: Penvearn House
Cubert
NEWQUAY
Cornwall
TR8 5PU





REGISTERED NUMBER: 09621739 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

PENVEARN WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 09621739)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 261,883 281,506
Tangible assets 6 1,545 1,002
263,428 282,508

CURRENT ASSETS
Debtors 7 4,249 4,562
Cash at bank and in hand 28,342 26,167
32,591 30,729
CREDITORS
Amounts falling due within one year 8 100,138 73,755
NET CURRENT LIABILITIES (67,547 ) (43,026 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,881

239,482

CREDITORS
Amounts falling due after more than one year 9 (154,766 ) (193,179 )

PROVISIONS FOR LIABILITIES (386 ) (190 )
NET ASSETS 40,729 46,113

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 40,629 46,013
SHAREHOLDERS' FUNDS 40,729 46,113

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

PENVEARN WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 09621739)

BALANCE SHEET - continued
30 JUNE 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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





Mrs N Trudgeon - Director


PENVEARN WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 09621739)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Penvearn 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Intangible assets
Intangible assets are initially shown at cost. Amortisation is then provided to write off the cost, less any residual value, over its estimated useful life. The directors, having regard to average client ages and retention rates have considered the estimated useful life to be 20 years.

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 - 25% on cost and 25% on reducing balance

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 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PENVEARN WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 09621739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 392,461
AMORTISATION
At 1 July 2023 110,955
Charge for year 19,623
At 30 June 2024 130,578
NET BOOK VALUE
At 30 June 2024 261,883
At 30 June 2023 281,506

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 10,568
Additions 1,401
At 30 June 2024 11,969
DEPRECIATION
At 1 July 2023 9,566
Charge for year 858
At 30 June 2024 10,424
NET BOOK VALUE
At 30 June 2024 1,545
At 30 June 2023 1,002

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,249 4,562

PENVEARN WEALTH MANAGEMENT LTD (REGISTERED NUMBER: 09621739)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 14,328 13,278
Other creditors 85,810 60,477
100,138 73,755

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 154,766 193,179

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs N Trudgeon.