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NJH Wealth Management Limited

Registered Number
04498269
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

NJH Wealth Management Limited
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

Holland, Hazel
Holland, Nigel James

Company Secretary

Holland, Hazel

Registered Address

3 Goodshawfold Close
Loveclough
Rossendale
BB4 8PZ

Registered Number

04498269 (England and Wales)
NJH Wealth Management Limited
Statement of Financial Position
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets31,157,2231,416,786
Tangible assets458,13549,359
1,215,3581,466,145
Current assets
Debtors5410,747289,343
Cash at bank and on hand265,988318,529
676,735607,872
Creditors amounts falling due within one year6(318,222)(308,278)
Net current assets (liabilities)358,513299,594
Total assets less current liabilities1,573,8711,765,739
Creditors amounts falling due after one year7(313,941)(583,250)
Provisions for liabilities8(16,575)(10,418)
Net assets1,243,3551,172,071
Capital and reserves
Called up share capital100100
Profit and loss account1,243,2551,171,971
Shareholders' funds1,243,3551,172,071
The financial statements were approved and authorised for issue by the Board of Directors on 25 March 2025, and are signed on its behalf by:
Holland, Nigel James
Director
Registered Company No. 04498269
NJH Wealth Management Limited
Notes to the Financial Statements
for the year ended 30 November 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, and a further business in 2021, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings15
Office Equipment33
2.Average number of employees

20242023
Average number of employees during the year1213
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 233,098,5823,098,582
At 30 November 243,098,5823,098,582
Amortisation and impairment
At 01 December 231,681,7961,681,796
Charge for year259,563259,563
At 30 November 241,941,3591,941,359
Net book value
At 30 November 241,157,2231,157,223
At 30 November 231,416,7861,416,786
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 December 2314,24958,79953,024126,072
Additions89911,7785,71518,392
At 30 November 2415,14870,57758,739144,464
Depreciation and impairment
At 01 December 23-30,52546,18876,713
Charge for year-5,8723,7449,616
At 30 November 24-36,39749,93286,329
Net book value
At 30 November 2415,14834,1808,80758,135
At 30 November 2314,24928,2746,83649,359
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables147,707137,566
Other debtors262,066149,105
Prepayments and accrued income9742,672
Total410,747289,343
Other debtors includes the following: Directors' loan accounts £195,937 (2023: £111,480) Tax debtor £66,129 (2023: £37,625)
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security194,110206,929
Other creditors117,93594,780
Accrued liabilities and deferred income6,1776,569
Total318,222308,278
Other creditors includes: PCP loan creditor £117,935 (2023: £94,780)
7.Creditors: amounts due after one year

2024

2023

££
Other creditors313,941583,250
Total313,941583,250
Other creditors includes: PCP loan creditor £313,941 (2023: £583,250)
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)16,57510,418
Total16,57510,418
9.Related party transactions
During the year the company paid rents of £24,000 (2023: £24,000) to the SIPP of N J Holland, a director.The rents were paid on normal commercial terms. During the year the company made loans to N J Holland and H Holland , both directors, of £84,457 (2023: £111,480). The company operates a defined contribution pension scheme in respect of the directors.The scheme and its assets are held by independent managers.The pension charge represents contributions due from the company and amounted to £174,000 (2023: £66,000).
10.Controlling party
The company is under the control of N J Holland and H Holland, the directors, by virtue of their directorship and shareholdings.