3 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 311,160 160,766 31,116 191,882 119,278 150,394 xbrli:pure xbrli:shares iso4217:GBP 07749880 2024-01-01 2024-12-31 07749880 2024-12-31 07749880 2023-12-31 07749880 2023-01-01 2023-12-31 07749880 2023-12-31 07749880 2022-12-31 07749880 bus:Director1 2024-01-01 2024-12-31 07749880 core:NetGoodwill 2023-12-31 07749880 core:NetGoodwill 2024-12-31 07749880 core:MotorVehicles 2024-12-31 07749880 core:MotorVehicles 2024-01-01 2024-12-31 07749880 core:WithinOneYear 2024-12-31 07749880 core:WithinOneYear 2023-12-31 07749880 core:AfterOneYear 2024-12-31 07749880 core:AfterOneYear 2023-12-31 07749880 core:ShareCapital 2024-12-31 07749880 core:ShareCapital 2023-12-31 07749880 core:RetainedEarningsAccumulatedLosses 2024-12-31 07749880 core:RetainedEarningsAccumulatedLosses 2023-12-31 07749880 core:NetGoodwill 2024-01-01 2024-12-31 07749880 core:NetGoodwill 2023-12-31 07749880 bus:SmallEntities 2024-01-01 2024-12-31 07749880 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07749880 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07749880 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07749880 bus:FullAccounts 2024-01-01 2024-12-31 07749880 core:FurnitureFittings 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: 07749880
Robert Saunderson Wealth Management Limited
Filleted Unaudited Financial Statements
31 December 2024
Robert Saunderson Wealth Management Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
119,278
150,394
Tangible assets
6
58,941
503
--------
--------
178,219
150,897
Current assets
Debtors
7
269
Cash at bank and in hand
7,862
55,115
------
-------
8,131
55,115
Creditors: amounts falling due within one year
8
78,354
158,395
-------
--------
Net current liabilities
70,223
103,280
--------
--------
Total assets less current liabilities
107,996
47,617
Creditors: amounts falling due after more than one year
9
45,118
15,661
Provisions
Taxation including deferred tax
14,735
126
--------
-------
Net assets
48,143
31,830
--------
-------
Capital and reserves
Called up share capital
4
4
Profit and loss account
48,139
31,826
-------
-------
Shareholders funds
48,143
31,830
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Robert Saunderson Wealth Management Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
R J Saunderson
Director
Company registration number: 07749880
Robert Saunderson Wealth Management Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5-11 Mortimer Street, London, W1T 3HS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. (b) Revenue recognition Turnover represents the consideration and commissions receivable for services rendered during the year. (c) Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date. (d) Amortisation Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. (f) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings - 5 years straight line
Motor vehicles - 4 years reducing balance
Equipment - 4 years straight line
(g) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
(h) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(i) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).
5. Intangible assets
Goodwill
£
Cost
At 1 January 2024 and 31 December 2024
311,160
--------
Amortisation
At 1 January 2024
160,766
Charge for the year
31,116
--------
At 31 December 2024
191,882
--------
Carrying amount
At 31 December 2024
119,278
--------
At 31 December 2023
150,394
--------
6. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2024
833
833
Additions
61,290
7,708
68,998
-------
------
-------
At 31 December 2024
61,290
8,541
69,831
-------
------
-------
Depreciation
At 1 January 2024
330
330
Charge for the year
8,938
1,622
10,560
-------
------
-------
At 31 December 2024
8,938
1,952
10,890
-------
------
-------
Carrying amount
At 31 December 2024
52,352
6,589
58,941
-------
------
-------
At 31 December 2023
503
503
-------
------
-------
7. Debtors
2024
2023
£
£
Other debtors
269
---
---
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,375
10,119
Trade creditors
3,448
7,462
Corporation tax
33,018
23,499
Social security and other taxes
613
1,196
Other creditors
30,900
116,119
-------
--------
78,354
158,395
-------
--------
Other creditors falling due within one year includes £Nil (2023- £48,419) in respect of amounts that have been personally guaranteed by the directors and £11,658 (2023- £nil) secured on assets of the company.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,286
15,661
Other creditors
39,832
-------
-------
45,118
15,661
-------
-------
Other creditors falling due after more than one year includes £39,832 (2023- £nil) secured on assets of the company.