REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
William Wilson Wealth Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 December 2024 |
for |
William Wilson Wealth Management Limited |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
William Wilson Wealth Management Limited |
Company Information |
for the Year Ended 31 December 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
46 High Street |
Banchory |
Aberdeenshire |
AB31 5SR |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Balance Sheet |
31 December 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Balance Sheet - continued |
31 December 2024 |
The financial statements were approved by the director and authorised for issue on |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
William Wilson Wealth Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention. |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income is recognised when the service has been provided, when the amount of revenue can be measured reliably and when its probable that future economic benefits will flow to the entity. |
Goodwill |
Goodwill being the amount paid in connection with the acquisition of the business in 2021 is being amortised evenly over its estimated useful life of twenty 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 |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures & Fittings - 20% on cost |
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. |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
3. | 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
AMORTISATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
Disposals | ( |
) |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors | ( |
) |
Corporation Tax |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
Loans outstanding at the year end include instalments due after more than five years of £73,599 (2023:£115,656) |
10. | SECURED DEBTS |
The loan from Saint James Place is secured by a personal guarantee provided by Mr William Wilson. |
William Wilson Wealth Management Limited (Registered number: SC684702) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
11. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 828 | 928 |
Deferred |
tax |
£ |
Balance at 1 January 2024 |
Provided during year | ( |
) |
Balance at 31 December 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |