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Company registration number: 07738223
DARWIN WEALTH MANAGEMENT LTD
31 December 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
DARWIN WEALTH MANAGEMENT LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
DARWIN WEALTH MANAGEMENT LTD
DIRECTORS AND OTHER INFORMATION
Director Mr W D M Evans
Secretary Mrs V S Evans
Company number 07738223
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
DARWIN WEALTH MANAGEMENT LTD
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DARWIN WEALTH MANAGEMENT LTD
YEAR ENDED 31ST DECEMBER 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Darwin Wealth Management Ltd for the year ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Darwin Wealth Management Ltd, as a body, in accordance with the terms of our engagement letter dated 21 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Darwin Wealth Management Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Darwin Wealth Management Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Darwin Wealth Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Darwin Wealth Management Ltd. You consider that Darwin Wealth Management Ltd 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 financial statements of Darwin Wealth Management Ltd. 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 statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
11 April 2025
DARWIN WEALTH MANAGEMENT LTD
STATEMENT OF FINANCIAL POSITION
31ST DECEMBER 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 53,757 70,581
Investments 6 575,804 119,779
_______ _______
629,561 190,360
Current assets
Debtors 7 148,730 94,593
Cash at bank and in hand 126,903 170,224
_______ _______
275,633 264,817
Creditors: amounts falling due
within one year 8 ( 424,269) ( 51,457)
_______ _______
Net current (liabilities)/assets ( 148,636) 213,360
_______ _______
Total assets less current liabilities 480,925 403,720
Provisions for liabilities ( 2,283) ( 4,040)
_______ _______
Net assets 478,642 399,680
_______ _______
Capital and reserves
Called up share capital 600 600
Profit and loss account 478,042 399,080
_______ _______
Shareholders funds 478,642 399,680
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 April 2025 , and are signed on behalf of the board by:
Mr W D M Evans
Director
Company registration number: 07738223
DARWIN WEALTH MANAGEMENT LTD
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31ST DECEMBER 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2023 600 360,361 360,961
Profit for the year 102,719 102,719
_______ _______ _______
Total comprehensive income for the year - 102,719 102,719
Dividends paid and payable ( 64,000) ( 64,000)
_______ _______ _______
Total investments by and distributions to owners - ( 64,000) ( 64,000)
_______ _______ _______
At 31 December 2023 and 1 January 2024 600 399,080 399,680
Profit for the year 145,962 145,962
_______ _______ _______
Total comprehensive income for the year - 145,962 145,962
Dividends paid and payable ( 67,000) ( 67,000)
_______ _______ _______
Total investments by and distributions to owners - ( 67,000) ( 67,000)
_______ _______ _______
At 31 December 2024 600 478,042 478,642
_______ _______ _______
DARWIN WEALTH MANAGEMENT LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31ST DECEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 402 of the Companies Act 2006 on the basis that its subsidiaries are excluded from consolidation on the grounds that their inclusion is not material for the purpose of giving a true and fair view.
Turnover
Turnover is measured at the value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 January 2024 26,392 65,000 91,392
Additions 891 - 891
_______ _______ _______
At 31 December 2024 27,283 65,000 92,283
_______ _______ _______
Depreciation
At 1 January 2024 16,748 4,063 20,811
Charge for the year 2,481 15,234 17,715
_______ _______ _______
At 31 December 2024 19,229 19,297 38,526
_______ _______ _______
Carrying amount
At 31 December 2024 8,054 45,703 53,757
_______ _______ _______
At 31 December 2023 9,644 60,937 70,581
_______ _______ _______
6. Investments
Shares in group undertakings and participating interests Other investments other than loans Total
£ £ £
Cost
At 1 January 2024 119,779 - 119,779
Additions - 456,025 456,025
_______ _______ _______
At 31 December 2024 119,779 456,025 575,804
_______ _______ _______
Impairment
At 1 January 2024 and 31 December 2024 - - -
_______ _______ _______
Carrying amount
At 31 December 2024 119,779 456,025 575,804
_______ _______ _______
At 31 December 2023 119,779 - 119,779
_______ _______ _______
7. Debtors
2024 2023
£ £
Trade debtors 85,601 39,472
Other debtors 63,129 55,121
_______ _______
148,730 94,593
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 50,360 29,558
Social security and other taxes 4,758 5,963
Other creditors 369,151 15,936
_______ _______
424,269 51,457
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr W D M Evans ( 374) ( 10,701) - ( 11,075)
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr W D M Evans ( 614) - 240 ( 374)
_______ _______ _______ _______