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Registered Number: 04020006
England and Wales

 

 

 

ESSENTIAL WEALTH MANAGEMENT AND ADVICE LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
Director S M Wheeler
Registered Number 04020006
Registered Office 1-2 Great Farm Barnes
West Woodhay
Newbury
Berkshire
RG20 0BP
Accountants Blue Peak
100 Berkshire Place
GF33
Winnersh
RG41 5RD
Secretary G R Dormer
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 14,167    15,077 
Investments 4 178,872    108,594 
193,039    123,671 
Current assets      
Debtors 5 289,350    290,333 
Cash at bank and in hand 72,164    36,771 
361,514    327,104 
Creditors: amount falling due within one year 6 (109,663)   (92,835)
Net current assets 251,851    234,269 
 
Total assets less current liabilities 444,890    357,940 
Provisions for liabilities 7 (3,542)   (2,865)
Net assets 441,348    355,075 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 441,248    354,975 
Shareholders' funds 441,348    355,075 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 23 May 2025 and were signed on its behalf by:


-------------------------------
S M Wheeler
Director
2
General Information
Essential Wealth Management and Advice Limited is a private company, limited by shares, registered in England and Wales, registration number 04020006, registration address 1-2 Great Farm Barnes, West Woodhay, Newbury, Berkshire, RG20 0BP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 7 (2023 : 8).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2024 111,125    11,948    11,129    134,202 
Additions   1,420    1,792    3,212 
Disposals      
At 31 December 2024 111,125    13,368    12,921    137,414 
Depreciation
At 01 January 2024 108,179    5,517    5,429    119,125 
Charge for year 736    1,747    1,639    4,122 
On disposals      
At 31 December 2024 108,915    7,264    7,068    123,247 
Net book values
Closing balance as at 31 December 2024 2,210    6,104    5,853    14,167 
Opening balance as at 01 January 2024 2,946    6,431    5,700    15,077 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 January 2024 113,873    113,873 
Additions 134,999    134,999 
Transfer to/from tangible fixed assets  
Disposals (70,000)   (70,000)
At 31 December 2024 178,872    178,872 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 540   
Prepayments & Accrued Income 1,103    310 
Other Debtors 287,707    290,023 
289,350    290,333 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 9,175    12,664 
Corporation Tax 84,097    78,435 
Accrued Expenses 15,625    1,080 
Wages & Salaries Control Account 766    656 
109,663    92,835 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,542    2,865 
3,542    2,865 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
50 Class A Ordinary shares of £1.00 each 50    50 
49 Class B Ordinary shares of £1.00 each 49    49 
1 Class G Ordinary share of £1.00 each  
100    100 

3