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REGISTERED NUMBER: 08071380 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Richard Booth Wealth Management Limited

Richard Booth Wealth Management Limited (Registered number: 08071380)






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


Richard Booth Wealth Management Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: R C Booth
Mrs L Booth





REGISTERED OFFICE: 26a Bar Street
Scarborough
YO112HT





REGISTERED NUMBER: 08071380 (England and Wales)





ACCOUNTANTS: Assured Accountancy
23 Exchange Street
Driffield
East Riding
YO25 6LF

Richard Booth Wealth Management Limited (Registered number: 08071380)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 55,175
Tangible assets 5 110,352 61,229
110,352 116,404

CURRENT ASSETS
Debtors 6 21,753 21,944
Cash at bank 1,103 343
22,856 22,287
CREDITORS
Amounts falling due within one year 7 (118,337 ) (162,523 )
NET CURRENT LIABILITIES (95,481 ) (140,236 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,871

(23,832

)

CREDITORS
Amounts falling due after more than one
year

8

(47,387

)

(45,230

)

PROVISIONS FOR LIABILITIES 10 (13,115 ) (834 )
NET LIABILITIES (45,631 ) (69,896 )

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 11 53,407 -
Retained earnings (99,040 ) (69,898 )
SHAREHOLDERS' FUNDS (45,631 ) (69,896 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Richard Booth Wealth Management Limited (Registered number: 08071380)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:





R C Booth - Director


Richard Booth Wealth Management Limited (Registered number: 08071380)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Richard Booth Wealth Management Limited 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Transition from frs 105 to frs 102 section a1 small entites
During the transition from the Financial Reporting Standard 105 to Financial Reporting Standard 102 including the provision of Section 1A "Small Entities" the recognition of all assets & liabilities have remained unchanged apart from the recognition of a deferred tax liability of £834.

The effect of this provision is shown in note 11.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvement to Leasehold Prop - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 20% 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.


Richard Booth Wealth Management Limited (Registered number: 08071380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. 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.

Revaluation policy
The policy of the directors is that the freehold property will be revalued by an third party individual/company every 3 years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 705,474
AMORTISATION
At 1 January 2024 650,299
Amortisation for year 55,175
At 31 December 2024 705,474
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 55,175

Richard Booth Wealth Management Limited (Registered number: 08071380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Improvement
to Fixtures
Freehold Leasehold and Computer
property Prop fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 57,895 10,683 27,797 21,354 117,729
Additions - - 764 499 1,263
Revaluations 49,933 - - - 49,933
At 31 December 2024 107,828 10,683 28,561 21,853 168,925
DEPRECIATION
At 1 January 2024 3,474 10,683 23,847 18,496 56,500
Charge for year 2,157 - 2,092 1,298 5,547
Revaluation adjustments (3,474 ) - - - (3,474 )
At 31 December 2024 2,157 10,683 25,939 19,794 58,573
NET BOOK VALUE
At 31 December 2024 105,671 - 2,622 2,059 110,352
At 31 December 2023 54,421 - 3,950 2,858 61,229

Cost or valuation at 31 December 2024 is represented by:

Improvement
to Fixtures
Freehold Leasehold and Computer
property Prop fittings equipment Totals
£    £    £    £    £   
Valuation in 2024 107,828 - - - 107,828
Cost - 10,683 28,561 21,853 61,097
107,828 10,683 28,561 21,853 168,925

If the freehold property had not been revalued it would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 57,895 -
Aggregate depreciation 4,632 -

The freehold property was valued on an open market basis on 31 December 2024 by RedVilla Sales.com .

Richard Booth Wealth Management Limited (Registered number: 08071380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
St James's place 16,719 15,660
Other Debtors less than 1 year 1,300 1,296
Prepayments 50 -
18,069 16,956

Amounts falling due after more than one year:
Other Debtors more than 1 year 3,684 4,988

Aggregate amounts 21,753 21,944

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 42,874 89,845
Tax 73,091 56,565
Credit card owing 1,562 15,203
Directors' current accounts - 100
Accrued expenses 810 810
118,337 162,523

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans 1 - 5 years 47,387 45,230

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 81,044 116,819

10. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 13,115 834

Richard Booth Wealth Management Limited (Registered number: 08071380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 834
Provided during year 12,281
Balance at 31 December 2024 13,115

11. RESERVES
Revaluation
reserve
£   
Freehold property 53,407

At 31 December 2024 53,407

12. ULTIMATE CONTROLLING PARTY

The controlling party is R C Booth.