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REGISTERED NUMBER: OC395225 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

HEBERDEN WEALTH MANAGEMENT LLP
TRADING AS
OVAL WEALTH PARTNERS

HEBERDEN WEALTH MANAGEMENT LLP (REGISTERED NUMBER: OC395225)
TRADING AS OVAL WEALTH PARTNERS






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

General Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

HEBERDEN WEALTH MANAGEMENT LLP
TRADING AS OVAL WEALTH PARTNERS

GENERAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DESIGNATED MEMBERS: R A Heberden
J Heberden
J R Howell





REGISTERED OFFICE: 20 Havelock Road
Hastings
East Sussex
TN34 1BP





REGISTERED NUMBER: OC395225 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP

HEBERDEN WEALTH MANAGEMENT LLP (REGISTERED NUMBER: OC395225)
TRADING AS OVAL WEALTH PARTNERS

BALANCE SHEET
31 MARCH 2025

31.3.25 31.3.24
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 655,782 737,787
Tangible assets 5 458 1,015
656,240 738,802

CURRENT ASSETS
Debtors 6 42,936 35,599
Cash at bank 14,327 12,221
57,263 47,820
CREDITORS
Amounts falling due within one year 7 67,061 73,935
NET CURRENT LIABILITIES (9,798 ) (26,115 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,442

712,687

CREDITORS
Amounts falling due after more than one
year

8

142,782

227,063
NET ASSETS ATTRIBUTABLE TO
MEMBERS

503,660

485,624

LOANS AND OTHER DEBTS DUE TO
MEMBERS

10

503,660

485,624

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 10 503,660 485,624

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

HEBERDEN WEALTH MANAGEMENT LLP (REGISTERED NUMBER: OC395225)
TRADING AS OVAL WEALTH PARTNERS

BALANCE SHEET - continued
31 MARCH 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 14 August 2025 and were signed by:




R A Heberden - Designated member




J R Howell - Designated member


HEBERDEN WEALTH MANAGEMENT LLP (REGISTERED NUMBER: OC395225)
TRADING AS OVAL WEALTH PARTNERS

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Heberden Wealth Management LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

The members have made an assessment about the partnerships ability to continue as a going concern and they do not consider there to be any material uncertainties.
As a result the going concern basis of accounting has been adopted.

Turnover
Turnover represents amounts receivable for services provided.

Goodwill
Goodwill represents the amount paid in connection with the acquisition of clients in 2017, 2019, 2020 and 2021.

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.

Goodwill has not been amortised since, in the opinion of the members, there is a ready market for the company's client base. As St James's Place Wealth Management plc is listed on the UK Stock Exchange, clients can be sold either to St James's Place Wealth Management or other approved St James's Place Partners.

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 reducing balance
Computer equipment - 33% on cost

3. EMPLOYEE INFORMATION

The average number of employees during the year was 2 (2024 - NIL ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2024 737,787
Disposals (82,005 )
At 31 March 2025 655,782
NET BOOK VALUE
At 31 March 2025 655,782
At 31 March 2024 737,787

HEBERDEN WEALTH MANAGEMENT LLP (REGISTERED NUMBER: OC395225)
TRADING AS OVAL WEALTH PARTNERS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2024 221 5,826 6,047
Disposals - (4,164 ) (4,164 )
At 31 March 2025 221 1,662 1,883
DEPRECIATION
At 1 April 2024 169 4,863 5,032
Charge for year 10 548 558
Eliminated on disposal - (4,165 ) (4,165 )
At 31 March 2025 179 1,246 1,425
NET BOOK VALUE
At 31 March 2025 42 416 458
At 31 March 2024 52 963 1,015

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
as restated
£    £   
Trade debtors 42,936 35,599

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
as restated
£    £   
Bank loans and overdrafts 46,309 45,390
Trade creditors 5,870 10,377
Other creditors 8,543 14,868
Accrued expenses 6,339 3,300
67,061 73,935

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.25 31.3.24
as restated
£    £   
Bank loans - 1-2 years 45,282 45,390
Bank loans - 2-5 years 54,795 98,213
Bank loans more 5 yr by instal 2,156 5,778
Other creditors 40,549 77,682
142,782 227,063

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,156 5,778

HEBERDEN WEALTH MANAGEMENT LLP (REGISTERED NUMBER: OC395225)
TRADING AS OVAL WEALTH PARTNERS

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.25 31.3.24
as restated
£    £   
Other creditors 49,092 92,551
Bank loans 110,125 143,133
159,217 235,684

Metro Bank PLC hold fixed and floating charges dated 18 January 2018 over all of the property or undertaking of the LLP.

Other creditors represent the loans advanced by St James's Place and are secured against the client base owned by the LLP.

10. LOANS AND OTHER DEBTS DUE TO MEMBERS
31.3.25 31.3.24
as restated
£    £   
Amounts owed to members in respect of profits 503,660 485,624

Falling due within one year 503,660 485,624

The amounts shown in 'Loans and other debts due to member's' would rank after other unsecured creditors in the event of a winding up.

CHARTERED ACCOUNTANTS' REPORT TO THE MEMBERS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HEBERDEN WEALTH MANAGEMENT LLP

The following reproduces the text of the report prepared for the members in respect of the LLP's annual unaudited financial statements. In accordance with the Companies Act 2006, the LLP is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Members are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement we have prepared for your approval the attached financial statements from the business accounting records and from information and explanations you have given to us.

The financial statements have been compiled using the historical cost basis.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to you, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial information and state those matters that we have agreed to state to you in this report in accordance with the guidance of ICAEW as detailed at icaew.com/compilation and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the person to whom this report is addressed for our work or for this report.

You have approved the financial statements for the period described above, and have acknowledged your responsibility for them, for the appropriateness of the financial reporting framework adopted and for providing all information and explanations necessary for their compilation.

We have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
20 Havelock Road
Hastings
East Sussex
TN34 1BP


14 August 2025