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REGISTERED NUMBER: 11054010 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

SR PEARCE WEALTH MANAGEMENT LIMITED

SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SR PEARCE WEALTH MANAGEMENT LIMITED

COMPANY INFORMATION
for the Year Ended 30 November 2024







DIRECTOR: S R Pearce





REGISTERED OFFICE: 54 Sun Street
Waltham Abbey
Essex
EN9 1EJ





REGISTERED NUMBER: 11054010 (England and Wales)





ACCOUNTANTS: KNIGHT WHEELER LIMITED
Chartered Accountants
54 Sun Street
Waltham Abbey
Essex
EN9 1EJ

SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

BALANCE SHEET
30 November 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 766,360 766,360
Tangible assets 5 29,229 43,080
795,589 809,440

CURRENT ASSETS
Debtors 6 40,340 6,817
Cash at bank 1,430 2,382
41,770 9,199
CREDITORS
Amounts falling due within one year 7 (104,039 ) (113,213 )
NET CURRENT LIABILITIES (62,269 ) (104,014 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

733,320

705,426

CREDITORS
Amounts falling due after more than one
year

8

(596,972

)

(608,330

)
NET ASSETS 136,348 97,096

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings 136,243 96,991
136,348 97,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

BALANCE SHEET - continued
30 November 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 director and authorised for issue on 22 May 2025 and were signed by:





S R Pearce - Director


SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

SR Pearce 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 statement is the Pound Sterling (£) which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Purchased goodwill arising on the acquisition of practices is not amortised as the director is of the opinion that it has an indefinite life and is capable of continued measurement. This policy is in accordance with Financial Reporting Standard 10 but represents a departure from the requirement of the Companies Act 2006 and the Financial Reporting Standard for Small Entities which the director believes to be justified on the grounds he considers that the accounts show a true and fair view by the adoption of the stated policy.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% 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.


SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and any short term deposits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 766,360
NET BOOK VALUE
At 30 November 2024 766,360
At 30 November 2023 766,360

SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 2,425 54,930 2,551 59,906
Additions 150 - 316 466
At 30 November 2024 2,575 54,930 2,867 60,372
DEPRECIATION
At 1 December 2023 727 13,733 2,366 16,826
Charge for year 387 13,733 197 14,317
At 30 November 2024 1,114 27,466 2,563 31,143
NET BOOK VALUE
At 30 November 2024 1,461 27,464 304 29,229
At 30 November 2023 1,698 41,197 185 43,080

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2023
and 30 November 2024 54,930
DEPRECIATION
At 1 December 2023 13,733
Charge for year 13,733
At 30 November 2024 27,466
NET BOOK VALUE
At 30 November 2024 27,464
At 30 November 2023 41,197

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,340 6,817

SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) - 45,223
Other loans (see note 9) 48,009 17,911
Hire purchase contracts (see note 10) 7,628 7,628
Trade creditors - 344
Tax 44,612 38,203
Social security and other taxes - 504
Other creditors 178 178
Directors' current accounts 3,612 3,222
104,039 113,213

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) - 446,282
Other loans (see note 9) 560,361 117,809
Hire purchase contracts (see note 10) 36,611 44,239
596,972 608,330

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 265,389
Other loans more 5yrs instal 368,325 46,165
368,325 311,554

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans - 45,223
Other loans 48,009 17,911
48,009 63,134

Amounts falling due between one and two years:
Bank loans - 1-2 years - 45,223
Other loans - 1-2 years 48,009 17,911
48,009 63,134

SR PEARCE WEALTH MANAGEMENT LIMITED (REGISTERED NUMBER: 11054010)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2024

9. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 135,670
Other loans - 2-5 years 144,027 53,733
144,027 189,403

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 265,389
Other loans more 5yrs instal 368,325 46,165
368,325 311,554

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Gross obligations repayable:
Within one year 8,719 8,719
Between one and five years 40,359 47,987
49,078 56,706

Finance charges repayable:
Within one year 1,091 1,091
Between one and five years 3,748 3,748
4,839 4,839

Net obligations repayable:
Within one year 7,628 7,628
Between one and five years 36,611 44,239
44,239 51,867

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 491,505

12. RELATED PARTY DISCLOSURES

.