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Registration number: 07482303

Farrier Rose Wealth Management Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Farrier Rose Wealth Management Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Farrier Rose Wealth Management Ltd

Company Information

Directors

Mr J Van Leer

Mrs M Van Leer

Registered office

2 Stanley Road
Deal
CT14 7BT

Accountants

Harbour Key Limited Midway House
Herrick Way
Staverton
Cheltenham
GL51 6TQ

 

Farrier Rose Wealth Management Ltd

(Registration number: 07482303)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

837,162

995,331

Tangible assets

5

51,996

70,179

Investments

6

119,399

55,424

 

1,008,557

1,120,934

Current assets

 

Debtors

7

265,908

218,876

Cash at bank and in hand

 

632,397

1,102,173

 

898,305

1,321,049

Creditors: Amounts falling due within one year

8

(433,481)

(493,016)

Net current assets

 

464,824

828,033

Total assets less current liabilities

 

1,473,381

1,948,967

Creditors: Amounts falling due after more than one year

8

(744,034)

(1,109,592)

Provisions for liabilities

(12,999)

(17,545)

Net assets

 

716,348

821,830

Capital and reserves

 

Called up share capital

5

5

Retained earnings

716,343

821,825

Shareholders' funds

 

716,348

821,830

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 and 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.

 

Farrier Rose Wealth Management Ltd

(Registration number: 07482303)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 20 August 2025 and signed on its behalf by:
 

.........................................
Mr J Van Leer
Director

.........................................
Mrs M Van Leer
Director

 

Farrier Rose Wealth Management Ltd

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 and Wales.

The address of its registered office is:
2 Stanley Road
Deal
CT14 7BT
England

These financial statements were authorised for issue by the Board on 20 August 2025.

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.

The presentational currency of the financial statements is British Pound £, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are round to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit or loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Farrier Rose Wealth Management Ltd

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.

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

Motor vehicles

25% reducing balance

Fixtures and fittings

15% straight line

Computer equipment

25% straight line

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

10 years straight line

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 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.

 

Farrier Rose Wealth Management Ltd

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Farrier Rose Wealth Management Ltd

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

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the Balance Sheet. The corresponding dividends relating to the liability component are charges as interest in the Profit and Loss Account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction value (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financial transaction. If an arrangement constitutes a financial transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market value of interest for a similar debt instrument.

 Impairment
Asset, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ("CGUs") of which the goodwill is a part. Any impairment in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Farrier Rose Wealth Management Ltd

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 7 (2024 - 7).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

2,761,355

2,761,355

Disposals

(7,153)

(7,153)

At 31 March 2025

2,754,202

2,754,202

Amortisation

At 1 April 2024

1,766,024

1,766,024

Amortisation charge

158,169

158,169

Amortisation eliminated on disposals

(7,153)

(7,153)

At 31 March 2025

1,917,040

1,917,040

Carrying amount

At 31 March 2025

837,162

837,162

At 31 March 2024

995,331

995,331

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

24,840

51,150

165,140

241,130

Additions

1,286

-

-

1,286

At 31 March 2025

26,126

51,150

165,140

242,416

Depreciation

At 1 April 2024

19,015

45,328

106,608

170,951

Charge for the year

1,173

3,662

14,634

19,469

At 31 March 2025

20,188

48,990

121,242

190,420

Carrying amount

At 31 March 2025

5,938

2,160

43,898

51,996

At 31 March 2024

5,825

5,822

58,532

70,179

 

Farrier Rose Wealth Management Ltd

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

6

Investments

2025
£

2024
£

Listed investments

119,399

55,424

7

Debtors

Note

2025
£

2024
£

Trade debtors

 

174,550

134,914

Prepayments

 

2,248

1,190

Other debtors

11

89,110

82,772

 

265,908

218,876

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Bank loans and overdrafts

9

161,498

261,310

Trade creditors

 

464

1,073

Taxation and social security

 

5,818

4,071

Other creditors

 

265,701

226,562

 

433,481

493,016

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

744,034

1,109,592

Creditors include bank loans repayable by instalments of £246,333 (2024 - £46,527) due after more than five years.

9

Loans and borrowings

 

Farrier Rose Wealth Management Ltd

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

2025
£

2024
£

Non-current loans and borrowings

Bank borrowings

587,544

675,827

Hire purchase contracts

-

37,072

Other borrowings

156,490

396,693

744,034

1,109,592

2025
£

2024
£

Current loans and borrowings

Bank borrowings

88,284

87,204

Hire purchase contracts

37,072

4,812

Other borrowings

36,142

169,294

161,498

261,310

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Loans included in creditors falling due and after more than one year, totalling £868,460 (2024: £1,329,018), are secured on the income generated from the intangible assets to which they relate.

The hire purchase liabilities are secured on the assets to which they relate.

11

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

No repayment terms or interest charged

47,472

52,660

(48,000)

52,132

 

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

No repayment terms or interest charged

26,572

47,472

(26,572)

47,472

 

Summary of transactions with other related parties

At the balance sheet date, the company was owed £36,978 (2024: £35,300) by a company with mutual directors and shareholders. There are no repayment terms or interest charged on the outstanding amount.