Registered number
11828528
Wealthi Ltd
Filleted Accounts
28 February 2025
Wealthi Ltd
Registered number: 11828528
Balance Sheet
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 2,830 3,396
Current assets
Debtors 4 186,564 187,522
Cash at bank and in hand 199 261
186,763 187,783
Creditors: amounts falling due within one year 5 (1,379) (500)
Net current assets 185,384 187,283
Total assets less current liabilities 188,214 190,679
Creditors: amounts falling due after more than one year 6 (110) (110)
Net assets 188,104 190,569
Capital and reserves
Called up share capital 1,072 1,072
Share premium 324,924 324,924
Profit and loss account (137,892) (135,427)
Shareholders' funds 188,104 190,569
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Esho
Director
Approved by the board on 4 April 2025
Wealthi Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company - -
3 Intangible fixed assets £
Domain name:
Cost
At 1 March 2024 5,660
At 28 February 2025 5,660
Amortisation
At 1 March 2024 2,264
Provided during the year 566
At 28 February 2025 2,830
Net book value
At 28 February 2025 2,830
At 29 February 2024 3,396
The domain name is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2025 2024
£ £
Other debtors 186,564 187,522
5 Creditors: amounts falling due within one year 2025 2024
£ £
Other creditors 1,379 500
6 Creditors: amounts falling due after one year 2025 2024
£ £
Non-equity preference shares 110 110
7 Controlling party
The ultimate controlling parties are Age Investments PTY Ltd and SCV Family Group PTY Ltd, who each own 42% of the company's ordinary shareholding.
8 Other information
Wealthi Ltd is a private company limited by shares and incorporated in England. Its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
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