1 April 2024 false Taxfiler 2024.6 08695461business:PrivateLimitedCompanyLtd2024-04-012025-03-31 086954612024-03-31 086954612024-04-012025-03-31 08695461business:AuditExempt-NoAccountantsReport2024-04-012025-03-31 08695461business:FilletedAccounts2024-04-012025-03-31 086954612025-03-31 08695461business:Director12024-04-012025-03-31 08695461business:Director22024-04-012025-03-31 08695461business:RegisteredOffice2024-04-012025-03-31 086954612024-03-31 08695461core:WithinOneYear2025-03-31 08695461core:WithinOneYear2024-03-31 08695461core:AfterOneYear2025-03-31 08695461core:AfterOneYear2024-03-31 08695461core:ShareCapitalcore:PreviouslyStatedAmount2025-03-31 08695461core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 08695461core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2025-03-31 08695461core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 08695461core:PreviouslyStatedAmount2025-03-31 08695461core:PreviouslyStatedAmount2024-03-31 08695461business:SmallEntities2024-04-012025-03-31 08695461countries:EnglandWales2024-04-012025-03-31 08695461core:MotorVehicles2024-04-012025-03-31 08695461core:ComputerEquipment2024-04-012025-03-31 08695461core:MotorVehicles2024-03-31 08695461core:ComputerEquipment2024-03-31 08695461core:MotorVehicles2025-03-31 08695461core:ComputerEquipment2025-03-31 086954612023-04-012024-03-31 iso4217:GBP xbrli:pure
Company Registration No. 08695461 (England and Wales)
Garwood Wealth Management Limited Unaudited accounts for the year ended 31 March 2025
Garwood Wealth Management Limited Unaudited accounts Contents
Page
- 2 -
Garwood Wealth Management Limited Company Information for the year ended 31 March 2025
Directors
Kristopher Garwood Felicity Garwood
Company Number
08695461 (England and Wales)
Registered Office
10 High Street FAREHAM HAMPSHIRE PO16 7AN
- 3 -
Garwood Wealth Management Limited Statement of financial position as at 31 March 2025
2025 
2024 
Notes
£ 
£ 
Fixed assets
Tangible assets
42,237 
5,626 
Current assets
Cash at bank and in hand
74,371 
73,205 
Creditors: amounts falling due within one year
(40,018)
(25,643)
Net current assets
34,353 
47,562 
Total assets less current liabilities
76,590 
53,188 
Creditors: amounts falling due after more than one year
(28,272)
- 
Net assets
48,318 
53,188 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
48,218 
53,088 
Shareholders' funds
48,318 
53,188 
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by
Kristopher Garwood Director Company Registration No. 08695461
- 4 -
Garwood Wealth Management Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Garwood Wealth Management Limited is a private company, limited by shares, registered in England and Wales, registration number 08695461. The registered office is 10 High Street, FAREHAM, HAMPSHIRE, PO16 7AN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value of services provided to clients.
Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% per annum straight line
Computer equipment
25% per annum straight line
Operating leases
Rentals applicable to operating leases where substantially all of the benefits of risk of ownership remain with the lessor are charged to the profit and loss account as incurred.
Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
Government grants
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income, on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate
- 5 -
Garwood Wealth Management Limited Notes to the Accounts for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2024
- 
10,806 
10,806 
Additions
51,000 
- 
51,000 
At 31 March 2025
51,000 
10,806 
61,806 
Depreciation
At 1 April 2024
- 
5,180 
5,180 
Charge for the year
11,688 
2,701 
14,389 
At 31 March 2025
11,688 
7,881 
19,569 
Net book value
At 31 March 2025
39,312 
2,925 
42,237 
At 31 March 2024
- 
5,626 
5,626 
5
Creditors: amounts falling due within one year
2025 
2024 
£ 
£ 
Obligations under finance leases and hire purchase contracts
15,200 
- 
Taxes and social security
22,180 
23,582 
Other creditors
2,558 
1,928 
Loans from directors
80 
133 
40,018 
25,643 
6
Creditors: amounts falling due after more than one year
2025 
2024 
£ 
£ 
Obligations under finance leases and hire purchase contracts
28,272 
- 
7
Loans to directors
The prior year related party transaction relates to an overdrawn directors loan which was repaid during 2020.
8
Average number of employees
During the year the average number of employees was 0 (2024: 0).
- 6 -