REGISTERED NUMBER: 08244150 (England and Wales)

IP Wealth Management Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N Broumley

Mr D Bedford

SECRETARY:

Mrs H R Stacey

REGISTERED OFFICE:

Unit 5 Westgate Court

Silkwood Park

Ossett

West Yorkshire

WF5 9TT

REGISTERED NUMBER:

08244150 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Accountants & Business Advisors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Intangible assets

4

1,212,871

126,350

Tangible assets

5

99,619

50,739

1,312,490

177,089

CURRENT ASSETS

Debtors

6

17,228,932

11,341,556

Cash at bank

187,039

93,655

17,415,971

11,435,211

CREDITORS

Amounts falling due within one year

7

3,278,878

2,350,850

NET CURRENT ASSETS

14,137,093

9,084,361

TOTAL ASSETS LESS CURRENT LIABILITIES

15,449,583

9,261,450

CREDITORS

Amounts falling due after more than one year

8

(15,048,347

)

(9,141,088

)

PROVISIONS FOR LIABILITIES

(24,905

)

(12,685

)

NET ASSETS

376,331

107,677

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

376,231

107,577

SHAREHOLDERS' FUNDS

376,331

107,677

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

Mr N Broumley - Director

1.	STATUTORY INFORMATION

IP 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 company's functional and presentation currency is the pound sterling £. All financial information presented has been rounded to the nearest £, unless otherwise stated.

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 represents commissions receivable which are exempt from value added tax.

Goodwill

Goodwill represents payments made to competitors for their fee bases and these are amortised over a period of 5 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

Over the term of the lease

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are initially recorded at costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 35 (2023 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

1,071,613

Additions

1,426,907

At 31 December 2024

2,498,520

AMORTISATION

At 1 January 2024

945,263

Charge for year

340,386

At 31 December 2024

1,285,649

NET BOOK VALUE

At 31 December 2024

1,212,871

At 31 December 2023

126,350

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Motor

Computer

leasehold

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

61,734

66,469

155,948

3,834

287,985

Additions

-

3,942

112,253

896

117,091

Disposals

-

-

(155,948

)

-

(155,948

)

At 31 December 2024

61,734

70,411

112,253

4,730

249,128

DEPRECIATION

At 1 January 2024

52,914

66,124

116,961

1,247

237,246

Charge for year

8,820

1,133

18,326

945

29,224

Eliminated on disposal

-

-

(116,961

)

-

(116,961

)

At 31 December 2024

61,734

67,257

18,326

2,192

149,509

NET BOOK VALUE

At 31 December 2024

-

3,154

93,927

2,538

99,619

At 31 December 2023

8,820

345

38,987

2,587

50,739

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

112,253

At 31 December 2024

112,253

DEPRECIATION

Charge for year

18,326

At 31 December 2024

18,326

NET BOOK VALUE

At 31 December 2024

93,927

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

4,652,609

4,155,191

Amounts owed by related undertakings

12,450,993

6,449,357

Other debtors

314

670,432

Directors' current accounts

1,429

395

Tax

2,563

2,214

Prepayments and accrued income

121,024

63,967

17,228,932

11,341,556

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Other loans

1,194,596

995,248

Hire purchase contracts

14,693

103,851

Amounts owed to group undertakings

707,634

771,726

Tax

480,214

299,688

Social security and other taxes

36,155

28,280

Other creditors

736,049

4,391

Accruals and deferred income

99,537

137,666

3,278,878

2,350,850

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

4,167

14,375

Other loans

14,949,823

9,126,713

Hire purchase contracts

94,357

-

15,048,347

9,141,088

9.

RESERVES

Retained

earnings

£

At 1 January 2024

107,577

Profit for the year

1,143,654

Dividends

(875,000

)

At 31 December 2024

376,231

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr N Broumley

Balance outstanding at start of year

396

396

Amounts advanced

1,429

-

Amounts repaid

(396

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,429

396

11.	RELATED PARTY DISCLOSURES