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REGISTERED NUMBER: 10270831 (England and Wales)



UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

ANDREW SKINNER WEALTH MANAGEMENT LIMITED

ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ANDREW SKINNER WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: A J Skinner
Mrs K Skinner





REGISTERED OFFICE: Maple House
4 Radford Way
Billericay
Essex
CM12 0DX





REGISTERED NUMBER: 10270831 (England and Wales)





ACCOUNTANTS: Lucentum Business Services Ltd
Beckwith Barn
Warren Estate
Lordship Road
Chelmsford
Essex
CM1 3WT

ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 791,924 923,337
Tangible assets 5 16,780 22,425
808,704 945,762

CURRENT ASSETS
Debtors 6 300,131 337,255
Cash at bank 97,044 165,399
397,175 502,654
CREDITORS
Amounts falling due within one year 7 265,425 283,231
NET CURRENT ASSETS 131,750 219,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

940,454

1,165,185

CREDITORS
Amounts falling due after more than one
year

8

671,848

795,713
NET ASSETS 268,606 369,472

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 268,506 369,372
SHAREHOLDERS' FUNDS 268,606 369,472

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)

BALANCE SHEET - continued
31 JULY 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 12 May 2025 and were signed on its behalf by:





A J Skinner - Director


ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Andrew Skinner 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 (£).


Amounts are rounded to the nearest Pound.

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.

Preparation of consolidated financial statements
The financial statements contain information about Andrew Skinner Wealth Management Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of client portfolios in 2018 and 2021, is amortised evenly over its estimated useful life of 10 years 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.
Fixtures and fittings - 20% on cost
Computer equipment - 25% 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.


ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 1,314,131
AMORTISATION
At 1 August 2023 390,794
Charge for year 131,413
At 31 July 2024 522,207
NET BOOK VALUE
At 31 July 2024 791,924
At 31 July 2023 923,337

ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 August 2023 31,454 17,539 48,993
Additions 1,510 1,237 2,747
At 31 July 2024 32,964 18,776 51,740
DEPRECIATION
At 1 August 2023 17,586 8,982 26,568
Charge for year 4,624 3,768 8,392
At 31 July 2024 22,210 12,750 34,960
NET BOOK VALUE
At 31 July 2024 10,754 6,026 16,780
At 31 July 2023 13,868 8,557 22,425

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 6,250 6,250
Directors' loan accounts 161,213 175,984
Prepayments and accrued income 79,731 101,579
247,194 283,813

Amounts falling due after more than one year:
Tax 52,937 53,442

Aggregate amounts 300,131 337,255

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 105,805 105,109
Taxation and social security 134,778 124,977
Other creditors 24,842 53,145
265,425 283,231

ANDREW SKINNER WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 10270831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 549,478 651,960
Other creditors 122,370 143,753
671,848 795,713

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 83,557 169,251
SJP Loans more 5yrs 42,983 62,844
126,540 232,095

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 655,283 757,069

The bank loans are secured by way of a debenture over all the assets of the company and personal guarantees provided by the Directors.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
A J Skinner and Mrs K Skinner
Balance outstanding at start of year 175,984 164,436
Amounts advanced - 11,548
Amounts repaid (14,771 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 161,213 175,984

Interest has been charged on any loans made to the directors.