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Registration number: 08324879

J T Wealth Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

J T Wealth Management Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

J T Wealth Management Limited

Company Information

Directors

Mrs A Tipper

Mr J A Tipper

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

J T Wealth Management Limited

(Registration number: 08324879)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

4,552

5,690

Tangible assets

5

465

578

 

5,017

6,268

Current assets

 

Debtors

6

20,300

14,616

Cash at bank and in hand

 

47,833

51,783

 

68,133

66,399

Creditors: Amounts falling due within one year

7

(41,766)

(59,316)

Net current assets

 

26,367

7,083

Total assets less current liabilities

 

31,384

13,351

Provisions for liabilities

(124)

(145)

Net assets

 

31,260

13,206

Capital and reserves

 

Called up share capital

100

100

Retained earnings

31,160

13,106

Shareholders' funds

 

31,260

13,206

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 July 2025 and signed on its behalf by:
 

 

J T Wealth Management Limited

(Registration number: 08324879)
Balance Sheet as at 31 March 2025

.........................................
Mr J A Tipper
Director

 

J T Wealth Management 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.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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.

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.

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

Fixtures and fittings

25% straight line basis

Computer equipment

33% straight line basis

 

J T Wealth Management Limited

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

 

J T Wealth Management Limited

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

3

Staff numbers

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

375,104

375,104

At 31 March 2025

375,104

375,104

Amortisation

At 1 April 2024

369,414

369,414

Amortisation charge

1,138

1,138

At 31 March 2025

370,552

370,552

Carrying amount

At 31 March 2025

4,552

4,552

At 31 March 2024

5,690

5,690

 

J T Wealth Management Limited

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

5

Tangible assets

Fixtures and fittings
 £

Computer equipment
 £

Total
£

Cost or valuation

At 1 April 2024

6,019

1,320

7,339

Additions

947

-

947

At 31 March 2025

6,966

1,320

8,286

Depreciation

At 1 April 2024

5,441

1,320

6,761

Charge for the year

1,060

-

1,060

At 31 March 2025

6,501

1,320

7,821

Carrying amount

At 31 March 2025

465

-

465

At 31 March 2024

578

-

578

6

Debtors

2025
£

2024
£

Trade debtors

20,300

14,616

Total current trade and other debtors

20,300

14,616

7

Creditors

Note

2025
£

2024
£

Due within one year

 

Taxation and social security

 

28,558

23,553

Other creditors

 

11,387

33,959

Accrued expenses

 

1,821

1,804

 

41,766

59,316