Acorah Software Products - Accounts Production 16.2.850 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 10849050 Mr A J Boiling Mrs W M Boiling iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10849050 2023-07-31 10849050 2024-07-31 10849050 2023-08-01 2024-07-31 10849050 frs-core:CurrentFinancialInstruments 2024-07-31 10849050 frs-core:Non-currentFinancialInstruments 2024-07-31 10849050 frs-core:ComputerEquipment 2024-07-31 10849050 frs-core:ComputerEquipment 2023-08-01 2024-07-31 10849050 frs-core:ComputerEquipment 2023-07-31 10849050 frs-core:FurnitureFittings 2024-07-31 10849050 frs-core:FurnitureFittings 2023-08-01 2024-07-31 10849050 frs-core:FurnitureFittings 2023-07-31 10849050 frs-core:NetGoodwill 2024-07-31 10849050 frs-core:NetGoodwill 2023-08-01 2024-07-31 10849050 frs-core:NetGoodwill 2023-07-31 10849050 frs-core:ShareCapital 2024-07-31 10849050 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 10849050 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 10849050 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 10849050 frs-bus:SmallEntities 2023-08-01 2024-07-31 10849050 frs-bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 10849050 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 10849050 frs-bus:OrdinaryShareClass1 2023-08-01 2024-07-31 10849050 frs-bus:OrdinaryShareClass1 2024-07-31 10849050 frs-bus:OrdinaryShareClass2 2023-08-01 2024-07-31 10849050 frs-bus:OrdinaryShareClass2 2024-07-31 10849050 frs-bus:OrdinaryShareClass3 2023-08-01 2024-07-31 10849050 frs-bus:OrdinaryShareClass3 2024-07-31 10849050 frs-bus:OrdinaryShareClass4 2023-08-01 2024-07-31 10849050 frs-bus:OrdinaryShareClass4 2024-07-31 10849050 frs-core:DeferredTaxation 2023-08-01 2024-07-31 10849050 frs-core:DeferredTaxation 2023-07-31 10849050 frs-core:DeferredTaxation 2024-07-31 10849050 frs-bus:Director1 2023-08-01 2024-07-31 10849050 frs-bus:CompanySecretary1 2023-08-01 2024-07-31 10849050 frs-countries:EnglandWales 2023-08-01 2024-07-31 10849050 2022-07-31 10849050 2023-07-31 10849050 2022-08-01 2023-07-31 10849050 frs-core:CurrentFinancialInstruments 2023-07-31 10849050 frs-core:Non-currentFinancialInstruments 2023-07-31 10849050 frs-core:ShareCapital 2023-07-31 10849050 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 10849050 frs-bus:OrdinaryShareClass1 2022-08-01 2023-07-31 10849050 frs-bus:OrdinaryShareClass2 2022-08-01 2023-07-31 10849050 frs-bus:OrdinaryShareClass3 2022-08-01 2023-07-31 10849050 frs-bus:OrdinaryShareClass4 2022-08-01 2023-07-31
Registered number: 10849050
AJB Wealth Management Limited
Unaudited Financial Statements
For The Year Ended 31 July 2024
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of AJB Wealth Management Limited for the year ended 31 July 2024
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of AJB Wealth Management Limited which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of AJB Wealth Management Limited , as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of AJB Wealth Management Limited and state those matters that we have agreed to state to the director of AJB Wealth Management Limited , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AJB Wealth Management Limited and its director as a body for our work or for this report.
It is your duty to ensure that AJB Wealth Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of AJB Wealth Management Limited . You consider that AJB Wealth Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of AJB Wealth Management Limited . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
9 April 2025
Raven Accounting (West Midlands) Limited
Chartered Certified Accountants
9-11 Stratford Road
Shirley
Solihull
B90 3LU
Page 1
Page 2
Balance Sheet
Registered number: 10849050
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 33,047 52,377
Tangible Assets 5 1,251 1,585
34,298 53,962
CURRENT ASSETS
Debtors 6 9,105 10,585
Cash at bank and in hand 21,232 43,509
30,337 54,094
Creditors: Amounts Falling Due Within One Year 7 (25,211 ) (42,416 )
NET CURRENT ASSETS (LIABILITIES) 5,126 11,678
TOTAL ASSETS LESS CURRENT LIABILITIES 39,424 65,640
Creditors: Amounts Falling Due After More Than One Year 8 (38,973 ) (52,041 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (313 ) (396 )
NET ASSETS 138 13,203
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 38 13,103
SHAREHOLDERS' FUNDS 138 13,203
Page 2
Page 3
For the year ending 31 July 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors on 9 April 2025 and were signed on its behalf by:
Mr A J Boiling
Director
9 April 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
AJB Wealth Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10849050 . The registered office is 7 Milbury Close, Oakwood, Derby, DE21 2JT.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five years.
Additional goodwill, being the amount paid in connection with the acquisition of a client list in 2020, is being amortised evenly over its estimated useful life of ten years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10% on cost
Computer Equipment 20% on cost
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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Page 5
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 August 2023 138,298
As at 31 July 2024 138,298
Amortisation
As at 1 August 2023 85,921
Provided during the period 19,330
As at 31 July 2024 105,251
Net Book Value
As at 31 July 2024 33,047
As at 1 August 2023 52,377
5. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 August 2023 1,167 1,844 3,011
As at 31 July 2024 1,167 1,844 3,011
Depreciation
As at 1 August 2023 363 1,063 1,426
Provided during the period 117 217 334
As at 31 July 2024 480 1,280 1,760
Net Book Value
As at 31 July 2024 687 564 1,251
As at 1 August 2023 804 781 1,585
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 9,105 10,585
Page 5
Page 6
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other loans 8,330 8,330
Other creditors 4,583 16,798
Taxation and social security 12,298 17,288
25,211 42,416
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 38,973 52,041
9. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 August 2023 396 396
Utilised (83 ) (83)
Balance at 31 July 2024 313 313
10. Share Capital
2024 2023
Allotted, called up and fully paid £ £
97 Ordinary Shares of £ 1 each 97 97
1 Ordinary A shares of £ 1 each 1 1
1 Ordinary B shares of £ 1 each 1 1
1 Ordinary C shares of £ 1 each 1 1
100 100
11. Related Party Transactions
During the year, total dividends of £30,000 (2023: £40,000) were paid to the director.
The director of the company has loaned the company money which is unsecured, interest-free, and repayable on
demand. At the end of the year the outstanding amounts totalled £2,803 (2023: £15,103).
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