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REGISTERED NUMBER: 10490173 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2024

for

HJP Wealth Management Limited

HJP Wealth Management Limited (Registered number: 10490173)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Other Comprehensive Income 4

Statement of Financial Position 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


HJP Wealth Management Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D J Barratt
Ms Y M Bavin
G J Lynch
R A C Phillips
G R Watt





REGISTERED OFFICE: 176 South Street
Dorking
RH4 2ES





REGISTERED NUMBER: 10490173 (England and Wales)






HJP Wealth Management Limited (Registered number: 10490173)

Report of the Directors
for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of financial advice, regulated by the Financial Conduct Authority.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.

This report has been prepared in accordance with Section 415A of the Companies Act 2006 relating to small companies.

DIRECTORS
The directors shown below have held office during the whole of the financial period to the date of signing the financial statements;

DJ Barratt
YM Bavin
GJ Lynch
RAC Phillips
GR Watt

DONATIONS AND EXPENDITURE
CHARITABLE DONATIONS

A total of £3,437 was donated to the following Charitable causes during the financial period;
£
St James's Place Charitable Foundation 2,655
Local Charities 782

ON BEHALF OF THE BOARD:





G J Lynch - Director


16 April 2025

HJP Wealth Management Limited (Registered number: 10490173)

Income Statement
for the Year Ended 31 December 2024

31.12.24 31.12.23
£    £   

TURNOVER 2,864,069 2,774,250

Administrative expenses 2,487,084 2,523,685
376,985 250,565

Other operating income - 290
OPERATING PROFIT 376,985 250,855

Interest receivable and similar income 8,887 2,726
385,872 253,581

Interest payable and similar expenses 43,366 64,618
PROFIT BEFORE TAXATION 342,506 188,963

Tax on profit 94,391 50,795
PROFIT FOR THE FINANCIAL YEAR 248,115 138,168

HJP Wealth Management Limited (Registered number: 10490173)

Other Comprehensive Income
for the Year Ended 31 December 2024

31.12.24 31.12.23
Notes £    £   

PROFIT FOR THE YEAR 248,115 138,168


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

248,115

138,168

HJP Wealth Management Limited (Registered number: 10490173)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,154 8,709
Tangible assets 5 10,497 9,035
16,651 17,744

CURRENT ASSETS
Debtors 6 342,712 332,477
Cash at bank and in hand 568,929 370,710
911,641 703,187
CREDITORS
Amounts falling due within one year 7 806,964 716,229
NET CURRENT ASSETS/(LIABILITIES) 104,677 (13,042 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,328

4,702

CREDITORS
Amounts falling due after more than
one year

8

37,969

169,458
NET ASSETS/(LIABILITIES) 83,359 (164,756 )

HJP Wealth Management Limited (Registered number: 10490173)

Statement of Financial Position - continued
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 83,259 (164,856 )
83,359 (164,756 )

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 16 April 2025 and were signed on its behalf by:





G J Lynch - Director


HJP Wealth Management Limited (Registered number: 10490173)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 (303,024 ) (302,924 )

Changes in equity
Total comprehensive income - 138,168 138,168
Balance at 31 December 2023 100 (164,856 ) (164,756 )

Changes in equity
Total comprehensive income - 248,115 248,115
Balance at 31 December 2024 100 83,259 83,359

HJP Wealth Management Limited (Registered number: 10490173)

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

1. STATUTORY INFORMATION

HJP 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Going Concern
After reviewing the company's forecast and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going-concern basis in preparing its financial statements.

Turnover
Revenue represents fees and commission receivable relating to advice provided on financial products during the year, net of any value added tax. Revenue is recognised on an accruals basis.

Goodwill
Goodwill relates to the purchase of Client banks. This is recorded at cost and amortised over an expected useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or if held under finance lease, over the lease term which ever is the shorter.

Tangible fixed assets are assessed for indicators of impairment at the end of each reporting period. If there is an indication of possible impairment and the recoverable amount is lower than the carrying amount, the carrying amount is reduced to its recoverable amount with the impairment loss recognised in the Income statement.

Plant & Machinery 25%,

Fixtures & Fittings 20%

Computer Equipment 33%.


HJP Wealth Management Limited (Registered number: 10490173)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Trade debtors
Trade Debtors are amounts due from clients for services conducted in the normal course of business. Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest rate method, less provision for any impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to recover all amounts due, according to the original terms.

Trade creditors
Trade Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business activities. Trade Creditors are classified as current liabilities if the company does not have an unconditional right at the end of the reporting period to defer settlement for at least 12 months after the reporting date. If there is an unconditional right to defer settlement for at least 12 month after the reporting date, they are reported as non current liabilities. Trade Creditors are recognised initially at the transaction cost and subsequently measured at amortised cost using the effective interest method.

HJP Wealth Management Limited (Registered number: 10490173)

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

2. ACCOUNTING POLICIES - continued

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. They are subsequently carried at amortised cost, with the difference between the proceeds net of transaction costs and the amount due on redemption being recocgnised as a charge to the profit and loss account over the duration of the loan period.

Interest is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least a period of 12 months after the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 60,697
AMORTISATION
At 1 January 2024 51,988
Charge for year 2,555
At 31 December 2024 54,543
NET BOOK VALUE
At 31 December 2024 6,154
At 31 December 2023 8,709

HJP Wealth Management Limited (Registered number: 10490173)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024 2,725 61,416 64,141
Additions - 8,193 8,193
At 31 December 2024 2,725 69,609 72,334
DEPRECIATION
At 1 January 2024 957 54,149 55,106
Charge for year 425 6,306 6,731
At 31 December 2024 1,382 60,455 61,837
NET BOOK VALUE
At 31 December 2024 1,343 9,154 10,497
At 31 December 2023 1,768 7,267 9,035

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 261,154 211,934
Other Debtors 33,354 27,104
Corporation Tax Owed - 48,154
Prepayments and accrued income 48,204 45,285
342,712 332,477

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other loans (see note 9) 230,390 258,927
Trade creditors 53,491 55,113
Tax 92,082 7,176
Social security and other taxes 50,365 40,308
VAT 583 810
Directors' loan accounts 60,014 147,774
Accrued expenses 320,039 206,121
806,964 716,229

HJP Wealth Management Limited (Registered number: 10490173)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Other loans (see note 9) 37,969 107,886
Directors' loan accounts - 61,572
37,969 169,458

9. LOANS

An analysis of the maturity of loans is given below:

31.12.24 31.12.23
£    £   
Amounts falling due within one year or on demand:
Other loans 230,390 258,927

Amounts falling due between two and five years:
Other loans - 2-5 years 37,969 107,886

10. FINANCIAL INSTRUMENTS

The company only enters in to basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors, loans from third parties, related parties and investments in ordinary shares.

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the profit and loss account.