| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| HEBERDEN WEALTH MANAGEMENT LLP |
| TRADING AS |
| OVAL WEALTH PARTNERS |
| REGISTERED NUMBER: |
| 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: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| 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 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 were approved by the members of the LLP and authorised for issue on |
| 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 |
| 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 |
| Fixtures and fittings | - |
| Computer equipment | - |
| 3. | EMPLOYEE INFORMATION |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2024 |
| Disposals | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 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 |
| Disposals | ( |
) | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| as restated |
| £ | £ |
| Trade debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.25 | 31.3.24 |
| as restated |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.25 | 31.3.24 |
| as restated |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Other creditors |
| 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 |
| 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. |
| Chartered Accountants & Business Advisers |
| 20 Havelock Road |
| Hastings |
| East Sussex |
| TN34 1BP |