REX WEALTH MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs T E Rex

C Rex

REGISTERED OFFICE:

11 Barnard Drive

Boulton Moor

Derby

Derbyshire

DE24 5BU

REGISTERED NUMBER:

14250958 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

FIXED ASSETS

Intangible assets

4

2,133,851

978,662

Tangible assets

5

40,781

51,096

2,174,632

1,029,758

CURRENT ASSETS

Debtors

6

32,529

13,856

CREDITORS

Amounts falling due within one year

7

229,085

246,015

NET CURRENT LIABILITIES

(196,556

)

(232,159

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,978,076

797,599

CREDITORS

Amounts falling due after more than one year

8

1,265,914

70,717

NET ASSETS

712,162

726,882

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Share premium

711,000

711,000

Retained earnings

162

14,882

SHAREHOLDERS' FUNDS

712,162

726,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2025 and were signed on its behalf by:

C Rex - Director

1.	STATUTORY INFORMATION

Rex Wealth Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of twenty years.

Additionally, goodwill paid in connection with the acquisition of a business in 2024 is also being amortised evenly over its estimated useful life of twenty years.

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.

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

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

1,032,317

Additions

1,234,883

At 31 December 2024

2,267,200

AMORTISATION

At 1 January 2024

53,655

Amortisation for year

79,694

At 31 December 2024

133,349

NET BOOK VALUE

At 31 December 2024

2,133,851

At 31 December 2023

978,662

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

12,950

50,000

1,099

64,049

DEPRECIATION

At 1 January 2024

2,590

10,000

363

12,953

Charge for year

2,072

8,000

243

10,315

At 31 December 2024

4,662

18,000

606

23,268

NET BOOK VALUE

At 31 December 2024

8,288

32,000

493

40,781

At 31 December 2023

10,360

40,000

736

51,096

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,788

-

Other debtors

29,741

13,856

32,529

13,856

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

124,541

160,077

Hire purchase contracts

9,422

9,528

Trade creditors

1,309

340

Taxation and social security

46,766

54,133

Other creditors

47,047

21,937

229,085

246,015

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

992,937

36,955

Hire purchase contracts

26,000

33,762

Other creditors

246,977

-

1,265,914

70,717

2024

2023

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

519,330

11,640

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

1,111,339

-

Hire purchase contracts

35,422

-

1,146,761

-

The bounce back loan is backed by government guarantee. All other bank loans are secured by personal guarantee from the company's directors.

Assets financed under hire purchase agreements are secured on the individual assets concerned.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary

£1.00

1,000

1,000