Company registration number 06372922 (England and Wales)
CLARION WEALTH PLANNING LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
CLARION WEALTH PLANNING LIMITED
COMPANY INFORMATION
Directors
R D Walker
K W Thompson
A W Wareing
J G E Winstanley
M N Sherratt
Secretary
Hargreaves Mounteney Limited
Company number
06372922
Registered office
Overbank
52 London Road
Alderley Edge
Cheshire
SK9 7DZ
Auditor
JS. Audit Limited
James House
Stonecross Business Park
Yew Tree Way
Warrington
Cheshire
WA3 3JD
Business address
Overbank
52 London Road
Alderley Edge
Cheshire
SK9 7DZ
Bankers
National Westminster Bank Plc
Bolton Customer Service Centre
P O Box 2027
Parklands, De Havilland Way
Horwich
Lancashire
BL6 4YU
Santander UK plc
PO Box 382
21 Prescot Street
London
E1 8AD
CLARION WEALTH PLANNING LIMITED
CONTENTS
Page
Strategic report
1 - 2
Directors' report
3 - 4
Independent auditor's report
5 - 7
Statement of income and retained earnings
8
Balance sheet
9
Notes to the financial statements
10 - 22
CLARION WEALTH PLANNING LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 1 -
The directors present the strategic report for the year ended 30 April 2025.
Review of the business
The business has continued to focus on high net worth individuals and performance has met expectations.
Turnover increased in the year to £3,011,220 (2024: £2,583,993), and the profit before tax increased to £1,348,449 (2024: £790,031).
Principal risks and uncertainties
Clarion Wealth Planning Limited is a regulated business and therefore we adopt an ongoing detailed review process at all levels of the business to ensure compliance with the regulatory requirements of the Financial Conduct Authority.
As part of this process we evaluate and further review the risks and uncertainties relevant to our business, key among these are:
The analysis ensures we are able to assess any additional risks the business may encounter, and allow us to deliver the best service to our clients and employees.
Our commitment in this area is evident in these financial results, and will enable the business to be consistent, progressive and sustain further growth.
Financial key performance indicators
Management information is also very important to the company and as such the board monitors relevant information. This includes:
Other key performance indicators
As part of our core values and processes we also monitor:
CLARION WEALTH PLANNING LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006
The board of directors of Clarion Wealth Planning Limited considers, both individually and together, that they have acted in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1)(a)-(f) of the Act) in the decisions taken during the period ended 30 April 2025.
Our strategy is designed to have a long-term beneficial impact on the company and to contribute to its success.
Our team members are fundamental to the delivery of our plan. The health, safety and well-being of our team members is one of our primary considerations in the way we do business.
Engagement with suppliers and customers is key to our success.
Our strategy takes into account the impact of the company's operations on the community and environment and our wider social responsibilities.
As the board of directors, our intention is to behave responsibly and ensure that the management operate the business in a responsible manner, operating within the high standards of business conduct and good governance expected for a business such as ours.
As the board of directors, our intention is to behave responsibly towards our shareholders and treat them fairly and equally, so they may to may benefit from the successful delivery of our strategy.
M N Sherratt
Director
21 August 2025
CLARION WEALTH PLANNING LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
The directors present their annual report and financial statements for the year ended 30 April 2025.
Results and dividends
The results for the year are set out on page 8.
Ordinary dividends were paid amounting to £200,000. In addition a distribution was made to the parent company, Clarion Group Limited, by way of a dividend in specie in respect of the transfer of the investment property at fair value of £775,000.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
R D Walker
K W Thompson
A W Wareing
J G E Winstanley
M N Sherratt
Post reporting date events
There have been no significant events affecting the company since the year end.
Future developments
The company is looking to make significant progress in the coming financial year.
Social and corporate responsibility
We are committed to managing our business in a socially responsible manner. The management of environment, employees, health and safety and community issues, in respect of our operations is central to the success of the business. Our commitment to quality, health, education and livelihood opportunities for the communities where we operate has been consistent and progressive.
Auditor
The auditor, JS. Audit Limited, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
CLARION WEALTH PLANNING LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 4 -
Strategic report
The company has chosen in accordance with Companies Act 2006, s.414C(11) to set out in the company's strategic report some of the information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of principal risks and uncertainties, which include financial risk management.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
On behalf of the board
M N Sherratt
Director
21 August 2025
CLARION WEALTH PLANNING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLARION WEALTH PLANNING LIMITED
- 5 -
Opinion
We have audited the financial statements of Clarion Wealth Planning Limited (the 'company') for the year ended 30 April 2025 which comprise the statement of income and retained earnings, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 April 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
CLARION WEALTH PLANNING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLARION WEALTH PLANNING LIMITED (CONTINUED)
- 6 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit. We have not identified material misstatements in the strategic report or the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement included within the directors’ report, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities and fraud are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities including fraud is detailed below.
Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006, UK tax, employment, pension, health and safety legislation and Financial Conduct Authority regulation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.
We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements and the risk of fraud in revenue recognition.
CLARION WEALTH PLANNING LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF CLARION WEALTH PLANNING LIMITED (CONTINUED)
- 7 -
Our procedures to respond to risks identified included the following:
reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
enquiring of management about actual and potential litigation and claims, their policies and procedures to prevent and detect fraud as well as whether they have knowledge of any actual, suspected or alleged fraud;
performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
reading minutes of meetings of those charged with governance and reviewing regulatory correspondence with the Financial Conduct Authority;
obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
in addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries; assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Angela Harrison BA FCA (Senior Statutory Auditor)
For and on behalf of JS. Audit Limited, Statutory Auditor
Chartered Accountants
James House
Stonecross Business Park
Yew Tree Way
Warrington
Cheshire
WA3 3JD
21 August 2025
CLARION WEALTH PLANNING LIMITED
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 APRIL 2025
- 8 -
2025
2024
Notes
£
£
Turnover
3
3,011,220
2,583,993
Administrative expenses
(1,712,156)
(1,861,661)
Other operating income
44,840
63,409
Operating profit
4
1,343,904
785,741
Interest receivable and similar income
8
4,545
4,290
Profit before taxation
1,348,449
790,031
Tax on profit
9
5,246
(205,212)
Profit for the financial year
1,353,695
584,819
Retained earnings brought forward
3,167,839
2,783,020
Dividends
10
(975,000)
(200,000)
Retained earnings carried forward
3,546,534
3,167,839
The statement of income and retained earnings has been prepared on the basis that all operations are continuing operations.
CLARION WEALTH PLANNING LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
11
-
-
Tangible assets
12
6,428
16,329
Investment properties
13
771,658
6,428
787,987
Current assets
Debtors
14
3,271,088
2,423,545
Cash at bank and in hand
527,562
546,177
3,798,650
2,969,722
Creditors: amounts falling due within one year
15
(258,542)
(578,094)
Net current assets
3,540,108
2,391,628
Total assets less current liabilities
3,546,536
3,179,615
Provisions for liabilities
Deferred tax liability
16
11,774
-
(11,774)
Net assets
3,546,536
3,167,841
Capital and reserves
Called up share capital
19
2
2
Profit and loss reserves
20
3,546,534
3,167,839
Total equity
3,546,536
3,167,841
The financial statements were approved by the board of directors and authorised for issue on 21 August 2025 and are signed on its behalf by:
M N Sherratt
Director
Company Registration No. 06372922
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 10 -
1
Accounting policies
Company information
Clarion Wealth Planning Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is Overbank, 52 London Road, Alderley Edge, Cheshire, SK9 7DZ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include include investment properties at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:
Section 4 ‘Statement of Financial Position’ – Reconciliation of the opening and closing number of shares;
Section 7 ‘Statement of Cash Flows’ – Presentation of a statement of cash flow and related notes and disclosures;
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’ – Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;
Section 33 ‘Related Party Disclosures’ – Compensation for key management personnel.
The financial statements of the company are consolidated in the financial statements of Clarion Wealth Group Limited. These consolidated financial statements are available from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for financial services advice provided in the period, and is shown net of VAT and other sales related taxes. Fees are charged on a flat rate basis for a period.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years. Goodwill is fully amortised.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 11 -
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Website
33% per annum on a straight line basis
1.6
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
20% per annum on a straight line basis
Fixtures and fittings
25% per annum on a straight line basis
Office equipment
33% per annum on a straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.7
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
1.8
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 12 -
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
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 company after deducting all of its liabilities.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 13 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Dividends declared in cash but satisfied by a transfer of assets are referred to as dividends in specie and are recognised when they are declared.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 14 -
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.14
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.15
Share-based payments
The company participated in a share-based payment arrangement established by its parent company at the time, Clarion Group Limited, and has taken advantage of the alternative treatment allowed under Section 26 of FRS102. The company recognised the share based payment expense based upon an allocation of its share of the group's total expense, calculated in proportion to the number of participating employees. The corresponding credit was recognised in retained earnings as a component of equity. The amount recognised in retained earnings from dates of grant to date of exercise is £nil.
1.16
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Turnover and other revenue
2025
2024
£
£
Turnover analysed by class of business
Advisory fees and commissions
3,011,220
2,583,993
2025
2024
£
£
Turnover analysed by geographical market
United Kingdom
3,011,220
2,583,993
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
3
Turnover and other revenue
(Continued)
- 15 -
2025
2024
£
£
Other revenue
Interest income
4,545
4,290
Sundry income and rent
41,498
63,409
4
Operating profit
2025
2024
Operating profit for the year is stated after charging/(crediting):
£
£
Depreciation of owned tangible fixed assets
14,672
24,696
Operating lease charges
106,635
88,755
Fair value gains on investment property
(3,342)
5
Auditor's remuneration
2025
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
6,300
7,500
For other services
All other non-audit services
1,000
2,540
6
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Administrative and advisory
18
20
Their aggregate remuneration comprised:
2025
2024
£
£
Wages and salaries
1,029,409
1,009,504
Social security costs
121,548
100,656
Pension costs
64,468
204,690
1,215,425
1,314,850
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 16 -
7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
513,416
401,845
Company pension contributions to defined contribution schemes
24,013
165,124
537,429
566,969
The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 3 (2024 - 4).
Remuneration disclosed above include the following amounts paid to the highest paid director:
2025
2024
£
£
Remuneration for qualifying services
213,718
181,728
Company pension contributions to defined contribution schemes
8,904
8,266
8
Interest receivable and similar income
2025
2024
£
£
Interest income
Interest on bank deposits
4,099
433
Other interest income
446
3,857
Total income
4,545
4,290
9
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
11,662
206,448
Adjustments in respect of prior periods
3,566
Total current tax
15,228
206,448
Deferred tax
Origination and reversal of timing differences
(20,474)
(1,236)
Total tax (credit)/charge
(5,246)
205,212
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
9
Taxation
(Continued)
- 17 -
The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:
2025
2024
£
£
Profit before taxation
1,348,449
790,031
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
337,112
197,508
Tax effect of expenses that are not deductible in determining taxable profit
4,727
7,704
Effect of change in corporation tax rate
(20,262)
Group relief
(16,470)
Permanent capital allowances in excess of depreciation
1,236
Tax relief on share options
(313,695)
Under/(over) provided in prior years
3,566
Tax at marginal rate
(224)
Short term timing differences
(1,236)
Taxation (credit)/charge for the year
(5,246)
205,212
10
Dividends
2025
2024
£
£
Distribution to parent company
775,000
Interim paid
200,000
200,000
975,000
200,000
The distribution made to the parent company was a dividend in specie relating to the intergroup transfer of the investment property as per note 13 to the financial statements.
11
Intangible fixed assets
Goodwill
Website
Total
£
£
£
Cost
At 1 May 2024 and 30 April 2025
185,430
22,774
208,204
Amortisation and impairment
At 1 May 2024 and 30 April 2025
185,430
22,774
208,204
Carrying amount
At 30 April 2025
At 30 April 2024
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 18 -
12
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Office equipment
Total
£
£
£
£
Cost
At 1 May 2024
417,765
110,237
141,551
669,553
Additions
4,771
4,771
Disposals
(5,479)
(5,479)
At 30 April 2025
417,765
110,237
140,843
668,845
Depreciation and impairment
At 1 May 2024
417,765
109,375
126,084
653,224
Depreciation charged in the year
862
13,810
14,672
Eliminated in respect of disposals
(5,479)
(5,479)
At 30 April 2025
417,765
110,237
134,415
662,417
Carrying amount
At 30 April 2025
6,428
6,428
At 30 April 2024
862
15,467
16,329
13
Investment property
2025
£
Fair value
At 1 May 2024
771,658
Net gains or losses through fair value adjustments
3,342
Intragroup transfer
(775,000)
At 30 April 2025
The freehold investment property comprised of a commercial property. The fair value was calculated by the directors based upon a previous valuation undertaken in May 2024 by an unconnected third party firm of surveyors. On 1 October 2024 the property was transferred to Clarion Group Limited, the company's parent company as at the date of transfer, at this market value by way of a dividend in specie.
14
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
3,088,163
1,471,152
Other debtors
7,100
683,828
Prepayments and accrued income
167,125
268,565
3,262,388
2,423,545
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
14
Debtors
(Continued)
- 19 -
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 16)
8,700
Total debtors
3,271,088
2,423,545
15
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
43,940
41,941
Corporation tax
11,216
202,591
Other taxation and social security
93,411
90,687
Other creditors
8,362
120,334
Accruals and deferred income
101,613
122,541
258,542
578,094
16
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
Assets
Assets
2025
2024
2025
2024
Balances:
£
£
£
£
Accelerated capital allowances
-
11,774
8,700
-
2025
Movements in the year:
£
Liability at 1 May 2024
11,774
Credit to profit or loss
(20,474)
Asset at 30 April 2025
(8,700)
The deferred tax asset relates to accelerated capital allowances and is expected to reverse over the life of the assets to which it relates.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 20 -
17
Retirement benefit schemes
2025
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
64,468
204,690
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
At the balance sheet date outstanding contributions to the scheme amounted to £Nil (2024: £Nil).
18
Share-based payment transactions
Number of share options
Weighted average exercise price
2025
2024
2025
2024
Number
Number
£
£
Outstanding at 1 May 2024
8,664
8,664
4.07
4.07
Exercised
4.07
Outstanding at 30 April 2025
8,664
4.07
Exercisable at 30 April 2025
Group share-based payments
The company participated in a group share based option scheme and recognised and measured its share based payment expense on the basis of a reasonable allocation of the expense recognised by the group. The allocation was based upon the number of employees benefitting from the share based payment plan employed by each group entity. In previous years the total charge recognised in the group and the company was nil. During the year ended 30 April 2025 all the share options in Clarion Group Limited were exercised.
19
Share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
20
Profit and loss reserves
Profit and loss account - includes all current and prior period retained profits and losses, net of distributions to shareholders.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 21 -
21
Financial commitments, guarantees and contingent liabilities
The company, together with its fellow subsidiary and parent company, is party to a cross-guarantee with National Westminster Bank plc dated 1 October 2024 against current and future liabilities.
The company is party to a debenture with RD and A Walker which is dated 1 October 2024 which has a fixed and floating charge. This charge is subject to the terms of an Intercreditor Agreement dated 1 October 2024 between the parties, the company's fellow subsidiary and parent company.
22
Operating lease commitments
Lessee
Operating lease payments represent rentals payable by the company for its offices. Leases are negotiated for an average term of 10 years and rentals are fixed for this period.
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
2025
2024
£
£
Within one year
89,407
91,389
Between two and five years
293,424
287,900
In over five years
70,000
140,000
452,831
519,289
The operating lease commitment at the balance sheet date includes £32,831 in vehicle lease commitments (£19,407 due within 1 year and £13,424 due between 2 and 5 years). These vehicles are leased on behalf of two directors and an adviser and the cost is covered by those individuals by salary sacrifice. The company will not be liable for the cost of the lease if either of the directors or the adviser were to leave the company.
23
Related party transactions
Included within other creditors is a balance of £8,362 (2024: £104,584) due to a partnership of which one of the directors is a partner. Management fees of £15,166 (2024: £26,000) have been charged during the year.
Included within other debtors is a balance of £119 (2024: £119) due from a charity in which a director has an interest and a balance of £1,301 due from a company of which two of the directors are owners.
During the year the company was charged rent of £45,500 (2024: £45,500) by the directors' pension fund for the use of the premises at 52 London Road, Alderley Edge, Cheshire.
CLARION WEALTH PLANNING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 22 -
24
Directors' transactions
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
R D Walker - Loan
-
126,111
82,145
(208,256)
-
126,111
82,145
(208,256)
-
The advances were interest free, repayable on demand and the company held no security in their respect.
25
Ultimate controlling party
With effect from 1 October 2024 the company's parent undertaking is Clarion Wealth Group Limited, a company registered in England and Wales. Clarion Wealth Group Limited prepares consolidated financial statements which include Clarion Wealth Planning Limited .
The smallest and largest group into which the results of this entity are consolidated is headed by Clarion Wealth Group Limited.
For the period to 30 September 2024 and for the prior year to 30 April 2024 the parent company was Clarion Group Limited.
For the period to 30 September 2024 and for the prior year to 30 April 2024 the ultimate controlling party was R D Walker. The directors consider there to be no ultimate controlling party since 1 October 2024.
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