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Registration number: 08347685

True Wealth Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

True Wealth Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

True Wealth Limited

Company Information

Director

Mr C Dahl

Registered office

Claremont House
70-72 Alma Road
Windsor
Berkshire
SL4 3EZ

Accountants

Ardmore Accountancy Limited
Chartered Certified Accountants
Suite 2
Jupiter Business Suites
30a Packhorse Road
Gerrards Cross
Buckinghamshire
SL9 7DA

 

True Wealth Limited

(Registration number: 08347685)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

24,349

30,559

Current assets

 

Debtors

5

37,208

27,653

Cash at bank and in hand

 

22,731

17,137

 

59,939

44,790

Creditors: Amounts falling due within one year

6

(63,822)

(47,279)

Net current liabilities

 

(3,883)

(2,489)

Total assets less current liabilities

 

20,466

28,070

Creditors: Amounts falling due after more than one year

6

-

(27,591)

Net assets

 

20,466

479

Capital and reserves

 

Called up share capital

100

100

Retained earnings

20,366

379

Shareholders' funds

 

20,466

479

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 August 2025
 

Mr C Dahl
Director

   
     
 

True Wealth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Claremont House
70-72 Alma Road
Windsor
Berkshire
SL4 3EZ

These financial statements were authorised for issue by the director on 1 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

True Wealth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance basis

Fixtures and fittings

20% reducing balance basis

Office equipment

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

True Wealth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 2).

 

True Wealth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

1,000

1,451

6,163

29,522

Additions

758

-

871

-

At 31 March 2025

1,758

1,451

7,034

29,522

Depreciation

At 1 April 2024

919

652

4,776

1,230

Charge for the year

92

200

474

7,073

At 31 March 2025

1,011

852

5,250

8,303

Carrying amount

At 31 March 2025

747

599

1,784

21,219

At 31 March 2024

81

799

1,387

28,292

Total
£

Cost or valuation

At 1 April 2024

38,136

Additions

1,629

At 31 March 2025

39,765

Depreciation

At 1 April 2024

7,577

Charge for the year

7,839

At 31 March 2025

15,416

Carrying amount

At 31 March 2025

24,349

At 31 March 2024

30,559

5

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

8

21,540

22,948

Prepayments

 

5,012

3,955

Other debtors

 

10,656

750

   

37,208

27,653

 

True Wealth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

-

7,884

Trade creditors

 

867

186

Taxation and social security

 

60,270

35,750

Accruals and deferred income

 

1,518

1,500

Other creditors

 

1,167

1,959

 

63,822

47,279

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

-

27,591

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

-

27,591

Current loans and borrowings

2025
£

2024
£

Other borrowings

-

7,884

 

True Wealth Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Related party transactions

Transactions with the director

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Mr C Dahl

Loan

(22,948)

(151,975)

153,383

(21,540)

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Mr C Dahl

Loan

2,571

(199,025)

173,506

(22,948)

Other transactions with the director

Interest was charged on the overdrawn balance at 2.25% per annum.

Summary of transactions with other related parties

True Wealth Ltd hasn't been FCA regulated since 2016. It receives commission from Advies Private Client LLP.