Wellbeing HoldCo Limited

	Page
Strategic Report	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Consolidated Statement of Comprehensive Income	8
Consolidated Statement of Financial Position	9
Company Statement of Financial Position	10
Consolidated Statement of Changes in Equity	11
Company Statement of Changes in Equity	12
Consolidated Statement of Cash Flows	13
Notes to the Consolidated Statement of Cash Flows	14
Notes to the Financial Statements	15—25

The directors present their strategic report for the year ended 31 December 2024.

Review of the Business

Executive Summary:

In the face of ongoing political uncertainties, Daintree Wealth Management has demonstrated resilience and adaptability throughout the year. Our commitment to delivering exceptional financial planning services, driven by innovation and client-centricity, has positioned us for sustained growth.

Daintree Wealth Tomorrow has been growing steadily, and importantly, is having the desired positive impact on people's lives I was hoping it would. We have a strong pipeline of businesses who are potentially looking to work with us, to create positive financial and life outcomes for employees.

Financial Performance:

Despite the challenging political environment, the group has maintained a robust financial performance. This success is a testament to the dedication and expertise of our team.

Principal Risks and Uncertainties

Regulatory Compliance:

Compliance with industry regulations is fundamental to our operations. We have invested in rigorous training and development programs to ensure our team remains up-to-date with the latest regulatory changes. Daintree Wealth Management has maintained a commendable record of compliance throughout the year.

Technological Advancements:

In an ever-evolving digital landscape, we recognise the importance of technology in delivering efficient and effective financial planning services. Our investment in cutting-edge technology tools and platforms has allowed us to streamline our processes, improve data security, and enhance the overall client experience.

Market Expansion:

To further diversify our client base and increase market share, Daintree Wealth Management has initiated plans for expansion into the corporate benefits and financial wellbeing space through its fellow subsidiary, Daintree Wealth Tomorrow.

Talent Development:

Our success is deeply rooted in the skills and dedication of our team. To foster a culture of continuous learning, we have implemented comprehensive training programs and mentorship initiatives.

In conclusion, I would like to express my gratitude to our clients, and employees for their continued support.

Together, we will continue to build our business into a leading force in the UK financial planning landscape.

Key performance indicators

The key performance indicators of the group are as follows:-

	2024	2023
	£	£
Net profit margin (profit after tax/sales)	31.2%	32.4%
Net current assets	£488,520	£439,047
Number of family clients	149	128

On behalf of the board

Mark Parello

Director

3rd April 2025

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Wellbeing HoldCo Limited

Company No. 09736806

Directors' Report For The Year Ended 31 December 2024

Directors' Report

The directors present their report and the financial statements for the year ended 31 December 2024.

Change of Company Name

The group passed a special resolution on 28 April 2023 changing its name from MPMS Management Limited to

Wellbeing HoldCo Limited.

Future Developments

Looking ahead, Daintree Wealth Management and Daintree Wealth Tomorrow are both well-positioned to capitalise on emerging opportunities and navigate potential challenges. Our strategic focus on innovation, client satisfaction, and regulatory compliance will remain at the forefront of our operations.

Dividends

The total distribution of dividends for the year ended 31 December 2024 will be £86,978 (2023: £123,000).

Political Donations and Expenditure

Political donations amounted to £NIL .

Political expenditure amounted to £NIL .

Financial Instruments

The group uses various financial instruments which include bank loans, cash and various items, such as trade debtors and trade creditors that arise directly from operations. The main purpose of these financial instruments is to raise finance for the group's operations. Their existence exposes the group to a number of financial risks.

The significant risks arising from the group's financial instruments are credit risk, liquidity risk and cash flow risk.

Credit risk

The group's principal financial assets are cash at bank and trade debtors. The credit risk associated with cash at bank is limited as the principal bank has a high credit rating assigned by international credit-rating agencies, and the cash on deposit is held by a banking platform which shows the credit scores of its banking institutions. The principal credit risk therefore arises from trade debtors.

Credit risk is minimised by means of credit checking procedures and fees being agreed in advance with customers.

Liquidity risk

The group seeks to manage risk by ensuring sufficient liquidity is available to meet foreseeable needs through the day to day involvement of management in business decisions.

Cash flow risk

Management monitor cash flows on a daily basis which ensures that the group has sufficient funds for operations.

Directors

The directors who held office during the year were as follows:

Mark Parello

Lubna Kaiser

Qualifying Third-party and Pension Scheme Indemnity Provision

Research and Development

Post Balance Sheet Events

Employees

Employee Engagement Statement

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Wellbeing HoldCo Limited

Directors' Report (continued)

For The Year Ended 31 December 2024

Statement of Engagement with Suppliers, Customers and Others in a Business Relationship with the Group

Branches Outside the UK

Streamlined Energy and Carbon Reporting

Additional note to the Report of the Directors

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the directors consider them to be of strategic importance to the business.

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' 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, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', 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 the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Independent Auditors

The auditors, Ascendis Audit Limited, will be proposed for re-appointment under S485 of Companies Act 2006.

On behalf of the board

Mark Parello

Director

3rd April 2025

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Independent Auditor's Report

to the Members of

Wellbeing HoldCo Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Wellbeing HoldCo Limited for the year ended 31 December 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's and group's affairs as at 31 December 2024 and of the group's 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.

Basis for Opinion

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group 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 entity's ability to continue as a going concern for a period of at least 12 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.

Other Information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:

the information given in the Group Strategic Report and the Report of the Directors for the financial year for which thefinancial statements are prepared is consistent with the financial statements; and
the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Wellbeing HoldCo Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not beenreceived from branches not visited by us; or
the parent company 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 Statement of Directors' Responsibilities set out on page three, 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 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

Wellbeing HoldCo Limited

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 a Report of the Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we considered the following:

- the nature of the industry, control environment and business performance including the design of the company and group's remuneration policies including bonus levels and performance targets;

- results of our enquiries of management about their own identification and assessment of the risks of irregularities;

- any matters we identified having obtained and reviewed the company and group's documentation of their policies and

procedures relating to:

- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged

fraud;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial

statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: bank payment processing (for personal benefit), payroll, together with the presentation of non-underlying items within the financial statements. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included FCA regulations, Companies Act 2006, and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial

statements but compliance with which may be fundamental to the group's ability to operate or to avoid a material penalty.

Audit response to risks identified

In addition to the above, 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 concerning actual and potential litigation and claims;

- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of

material misstatement due to fraud; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal

entries and other adjustments, assessing whether the judgements made in making accounting estimates 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 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 the 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 inquiry 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 for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our 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 that 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.

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Independent Auditor's Report (continued)

to the Members of

Wellbeing HoldCo Limited

Paul Allan Byrne BA (Double Hons) FCA (Senior Statutory Auditor)

for and on behalf of Ascendis Audit Limited , Statutory Auditor

3rd April 2025

Ascendis Audit Limited

Unit 3, Building 2, The Colony Wilmslow

Altrincham Road,Wilmslow

Cheshire

SK9 4LY

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Wellbeing HoldCo Limited

Consolidated Statement of Comprehensive Income

For The Year Ended 31 December 2024

Consolidated Statement of Comprehensive Income

		2024	2023
	Notes	£	£
TURNOVER	3	1,072,608	830,029
Cost of sales		(80,235 )	(41,218 )

GROSS PROFIT		992,373	788,811

Administrative expenses		(579,603 )	(441,878 )
Fair value gains on investments		17,833	2,729

OPERATING PROFIT	4	430,603	349,662
Other interest receivable and similar income		18,866	10,395
Interest payable and similar charges	9	(4,492 )	(6,170 )

PROFIT BEFORE TAXATION		444,977	353,887
Tax on Profit	10	(110,733 )	(84,857 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		334,244	269,030
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT		334,244	269,030

The notes on pages 14 to 25 form part of these financial statements.

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Wellbeing HoldCo Limited

Consolidated Statement of Financial Position

As At 31 December 2024

Consolidated Statement of Financial Position

Registered number: 09736806

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	11		33,317		40,736
Tangible Assets	12		58,827		72,573
Investments	13		209,613		56,949

			301,757		170,258
CURRENT ASSETS
Debtors	14	107,131		110,576
Cash at bank and in hand		649,496		530,326

		756,627		640,902
Creditors: Amounts Falling Due Within One Year	15	(268,107 )		(201,855 )

NET CURRENT ASSETS (LIABILITIES)			488,520		439,047

TOTAL ASSETS LESS CURRENT LIABILITIES			790,277		609,305

Creditors: Amounts Falling Due After More Than One Year	16		(117,952 )		(180,810 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(14,707 )		(18,143 )

NET ASSETS			657,618		410,352

CAPITAL AND RESERVES
Called up share capital	20		767		767
Share premium account			99,825		99,825
Capital redemption reserve			75		75
Income Statement			556,951		309,685

SHAREHOLDERS' FUNDS			657,618		410,352

On behalf of the board

Mark Parello

Director

3rd April 2025

The notes on pages 14 to 25 form part of these financial statements.

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Wellbeing HoldCo Limited

Company Statement of Financial Position

As At 31 December 2024

Company Statement of Financial Position

Registered number: 09736806

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Investments	13		309,713		157,049

			309,713		157,049
CURRENT ASSETS
Debtors	14	1,598		1,466
Cash at bank and in hand		107,365		3,364

		108,963		4,830
Creditors: Amounts Falling Due Within One Year	15	(23,231 )		(23,618 )

NET CURRENT ASSETS (LIABILITIES)			85,732		(18,788 )

TOTAL ASSETS LESS CURRENT LIABILITIES			395,445		138,261

Creditors: Amounts Falling Due After More Than One Year	16		(30,583 )		(35,823 )

NET ASSETS			364,862		102,438

CAPITAL AND RESERVES
Called up share capital	20		767		767
Share premium account			99,825		99,825
Capital redemption reserve			75		75
Income Statement			264,195		1,771

SHAREHOLDERS' FUNDS			364,862		102,438

In accordance with section 408(3) of the Companies Act 2006, the company has not presented its own profit and loss account and the related notes. The company's profit for the year was £ 349,402 (2023: £ 123,753 profit).

On behalf of the board

Mark Parello

Director

3rd April 2025

The notes on pages 14 to 25 form part of these financial statements.

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Wellbeing HoldCo Limited

Consolidated Statement of Changes in Equity

For The Year Ended 31 December 2024

Consolidated Statement of Changes in Equity

	Share Capital	Share Premium	Capital Redemption	Income Statement	Total
	£	£	£	£	£
As at 1 January 2023	767	99,825	75	163,655	264,322
Profit for the year and total comprehensive income	-	-	-	269,030	269,030

Dividends paid	-	-	-	(123,000)	(123,000)

As at 31 December 2023 and 1 January 2024	767	99,825	75	309,685	410,352


Profit for the year and total comprehensive income	-	-	-	334,244	334,244

Dividends paid	-	-	-	(86,978)	(86,978)

As at 31 December 2024	767	99,825	75	556,951	657,618

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Wellbeing HoldCo Limited

Company Statement of Changes in Equity

For The Year Ended 31 December 2024

Company Statement of Changes in Equity

	Share Capital	Share Premium	Capital Redemption	Income Statement	Total
	£	£	£	£	£
As at 1 January 2023	767	99,825	75	1,018	101,685
Profit for the year and total comprehensive income	-	-	-	123,753	123,753

Dividends paid	-	-	-	(123,000)	(123,000)

As at 31 December 2023 and 1 January 2024	767	99,825	75	1,771	102,438


Profit for the year and total comprehensive income	-	-	-	349,402	349,402

Dividends paid	-	-	-	(86,978)	(86,978)

As at 31 December 2024	767	99,825	75	264,195	364,862

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Wellbeing HoldCo Limited

Consolidated Statement of Cash Flows

For The Year Ended 31 December 2024

Consolidated Statement of Cash Flows

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	463,076	345,829
Interest paid		(4,492 )	(6,170 )
Tax paid		(69,078 )	(63,923 )

Net cash generated from operating activities		389,506	275,736

Cash flows from investing activities
Purchase of intangible assets		-	(3,164 )
Purchase of tangible assets		(2,112 )	(1,524 )
Purchase of other fixed asset investments		(134,682 )	-
Interest received		18,866	10,395

Net cash (used in)/generated from investing activities		(117,928 )	5,707

Cash flows from financing activities
Equity dividends paid		(86,978 )	(123,000 )
Repayment of bank borrowings		(55,240 )	(55,686 )
Repayment of other loans		(431)	-
Repayment of finance leases		(7,618 )	-
Amount introduced by directors		6,213	13,705
Amount withdrawn by directors		(8,354)	(5,520)
Capital Repayment in Year		-	(5,235)

Net cash used in financing activities		(152,408 )	(175,736 )



Increase in cash and cash equivalents		119,170	105,707
Cash and cash equivalents at beginning of year	2	530,326	424,619

Cash and cash equivalents at end of year	2	649,496	530,326

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Wellbeing HoldCo Limited

Notes to the Consolidated Statement of Cash Flows

For The Year Ended 31 December 2024

Notes to the Consolidated Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2024	2023
	£	£
Profit for the financial year	334,244	269,030
Adjustments for:
Tax on profit	110,733	84,857
Interest expense	4,492	6,170
Interest income	(18,866 )	(10,395 )
Amortisation of intangible assets	7,419	7,611
Depreciation of tangible assets	15,858	5,222
Net fair value gains recognised in profit or loss	(17,982)	(2,729)
Movements in working capital:
Decrease/(increase) in trade and other debtors	3,445	(26,381 )
Increase in trade and other creditors	23,733	12,444

Net cash generated from operations	463,076	345,829

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	649,496	530,326

3. Analysis of changes in net funds

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	530,326	119,170	649,496
Finance leases	(65,105)	7,618	(57,487)
Debts falling due within one year	(55,686 )	431	(55,255 )
Debts falling due after more than one year	(123,323)	55,240	(68,083)

	286,212	182,459	468,671

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Wellbeing HoldCo Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Wellbeing HoldCo Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09736806 . The registered office is Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY.

The principal place of business is One Balloon Street, Manchester, M4 4BE.

The principal activity of the group is that of financial planning, financial education, and management services.

The principal activity of the company is that of a holding company.

The functional and presentational currency of the group is Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

2. Accounting Policies

2.1. Basis of Preparation of 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

2.2. Basis Of Consolidation

The group financial statements consolidate the financial statements of the company and its two trading subsidiary undertakings drawn up to 31 December 2024. The dormant subsidiary, Daintree Asset Management Limited, is not consolidated on the grounds of immateriality.

A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities

As the group was created by means of a share for share exchange the group is consolidated using the merger method.

Intercompany transactions and balances between the company and its subsidiaries are eliminated in full on consolidation.

2.3. Significant judgements and estimations

The director has made a judgement in respect of the goodwill arising on acquisitions and the appropriate useful economic life of this asset: the director has estimated that this goodwill has a useful economic life of 10 years.

2.4. Turnover

Turnover is measured at the fair value of the consideration receivable in the year net of VAT. VAT is charged on all fees and invoices except for trading and financial planning fees.

Implementation fees are recognised once the funds are transferred.

Trading fees are recognised at the time of the transaction.

All other fees are calculated daily and invoiced on a monthly basis.

2.5. Intangible Fixed Assets and Amortisation - Goodwill

Intangible assets are stated at cost less accumulated amortisation and are represented by:

- Goodwill: this arose from the acquisition of a business in 2020. Amortisation is being provided evenly over its estimated useful economic life of 10 years.

- Website expenditure: this is capitalised where there is a clearly defined project, related expenditure is separately identifiable and it has been assessed for technical and commercial viability. Amortisation is being provided evenly over its useful life of five years.

The carrying amounts of the group's assets are reviewed for impairment when events or changes in circumstances indicate that the carrying amount of the fixed asset may not be recoverable. If any such indication exists, the asset's recoverable amount is estimated and an impairment provision made if appropriate.

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on tangible fixed assets are charged to Consolidated Statement of Comprehensive Income so as to write off their value, over its estimated useful lives, using the following methods:

Motor Vehicles	20% reducing balance
Computer Equipment	25% on cost

At each reporting date, the group reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Any impairment loss is recognised as an expense immediately.

2.7. Investments

Shares in group undertakings are stated at cost less impairment.

Shares in listed companies are stated at fair value with gains and losses recognised in the Consolidated Statement of Comprehensive Income.

2.8. Leasing and Hire Purchase Contracts

Assets held under hire purchase agreements are capitalised in the Statement of Financial Position and depreciated over their useful economic lives. The obligation to the lessor is recognised as a liability.

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

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease.

2.9. Cash and Cash Equivalents

Cash and cash equivalents comprise cash at bank. Bank borrowings are included in creditors.

2.10. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.11. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, except to the extent that it relates to items recognised in Consolidated Other Comprehensive Income or directly in Equity.

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 Statement of Financial Position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Statement of Financial Position 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

2.12. Pensions

The group operates a defined pension contribution scheme. Contributions are charged to the Consolidated Statement of Comprehensive Income as they become payable in accordance with the rules of the scheme.

2.13. Trade and other debtors

Trade and other debtors are stated at amortised cost less impairment losses for bad and doubtful debts.

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.14. Trade and other creditors

Trade and other creditors are recognised at amortised cost.

2.15. Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

3. Turnover

There is only one class of business and all income is generated in the United Kingdom.

4. Operating Profit

The operating profit is stated after charging:

	2024	2023
	£	£
Operating lease rentals	44,248	30,807
Exchange differences	-	76
Depreciation of tangible fixed assets	15,858	5,222
Amortisation of intangible fixed assets	7,419	7,611

5. Auditor's Remuneration

Remuneration received by the group's auditors and their associates during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the group and company's financial statements	7,450	7,250

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	255,688	195,370
Social security costs	17,800	9,090
Other pension costs	71,037	20,190

	344,525	224,650

7. Average Number of Employees

Group

Average number of employees, including directors, during the year was as follows:

	2024	2023
Office and administration	7	7

	7	7

Company

Average number of employees, including directors, during the year was: NIL (2023: NIL)

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

8. Directors' remuneration

	2024	2023
	£	£
Emoluments	68,402	13,316
Company contributions to money purchase pension schemes	62,834	15,000

	131,236	28,316

The number of directors to whom retirement benefits were accruing was as follows:

	2024		2023
Money purchase pension schemes	2		1

9. Interest Payable and Similar Charges

	2024	2023
	£	£
Bank loans and overdrafts	4,492	6,170

10. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	114,169	69,021
Prior period adjustment			-	(1,180 )

			114,169	67,841
Deferred Tax
Deferred taxation			(3,436 )	17,016


Total tax charge for the period			110,733	84,857


The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			444,977	353,887

Tax on profit at 25% (UK standard rate)			111,244	83,234
Goodwill/depreciation not allowed for tax			1,856	2,668
Expenses not deductible for tax purposes			2,218	952
Prior period adjustment			-	(1,180 )
Revenue exempt from taxation			(4,458 )	(597 )
Changes in tax provisions due to legislation			(127 )	(683 )
Deferred tax relating to changes in tax rates or laws			-	463

Total tax charge for the period			110,733	84,857

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

11. Intangible Assets

Group

	Goodwill	Other	Total
	£	£	£
Cost or Valuation
As at 1 January 2024	61,992	9,164	71,156

As at 31 December 2024	61,992	9,164	71,156

Amortisation
As at 1 January 2024	24,796	5,624	30,420
Provided during the period	6,199	1,220	7,419

As at 31 December 2024	30,995	6,844	37,839

Net Book Value
As at 31 December 2024	30,997	2,320	33,317

As at 1 January 2024	37,196	3,540	40,736

Company

The company had no intangible fixed assets as at 31 December 2024 or 31 December 2023.

12. Tangible Assets

Group

	Motor Vehicles	Computer Equipment	Total
	£	£	£
Cost
As at 1 January 2024	70,340	28,713	99,053
Additions	-	2,112	2,112

As at 31 December 2024	70,340	30,825	101,165

Depreciation
As at 1 January 2024	1,719	24,761	26,480
Provided during the period	13,723	2,135	15,858

As at 31 December 2024	15,442	26,896	42,338

Net Book Value
As at 31 December 2024	54,898	3,929	58,827

As at 1 January 2024	68,621	3,952	72,573

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2024	2023
	£	£
Motor Vehicles	54,898	68,621

Page 19

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Company

	Computer Equipment
	£
Cost
As at 1 January 2024	14,071

As at 31 December 2024	14,071

Depreciation
As at 1 January 2024	14,071

As at 31 December 2024	14,071

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

13. Investments

Group

	Listed
	£
Cost
As at 1 January 2024	56,949
Additions	134,682
Revaluations	17,982

As at 31 December 2024	209,613

Provision
As at 1 January 2024	-

As at 31 December 2024	-

Net Book Value
As at 31 December 2024	209,613

As at 1 January 2024	56,949

Cost or valuation at 31 December 2024 is represented by:

	Listed investments
	£
Valuations to date	18,677
Additions in 2024	134,682
Cost	56,254
	209,613

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Company

	Listed	Unlisted	Total
	£	£	£
Cost
As at 1 January 2024	56,949	100,100	157,049
Additions	134,682	-	134,682
Revaluations	17,982	-	17,982

As at 31 December 2024	209,613	100,100	309,713

Provision
As at 1 January 2024	-	-	-

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	209,613	100,100	309,713

As at 1 January 2024	56,949	100,100	157,049

Cost or valuation at 31 December 2024 is represented by:

	Shares in group undertakings	Listed investments	Totals
	£	£	£
Valuations to date		18,677	18,677
Additions in 2024		134,682	134,682
Cost	100,100	56,254	156,354

	100,100	209,613	309,713

Subsidiaries

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Name of undertaking	Registered Office	Class of shares held	Direct holding	Indirect holding
Daintree Wealth Management Limited	One Balloon Street, Manchester, M4 4BE	Ordinary	100.00%	-
Daintree Wealth Tomorrow Ltd	Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY	Ordinary	100.00%	-
Daintree Asset Management Limited	Unit 3, Building 2, The Colony Wilmslow, Altrincham Road, Wilmslow, Cheshire, SK9 4LY	Ordinary	100.00%	-

Daintee Asset Management Limited has been excluded from the group accounts on the grounds of immateriality. The aggregate capital and reserves and the result for the year of Daintree Asset Management Limited was as follows:

	Capital and Reserves	Profit/(loss)
	£	£
Daintree Asset Management Limited	100	-

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

The principal activity of Daintree Wealth Management Limited is that of financial planning and management services.

The principal activity of Daintree Wealth Tomorrow Ltd is that of financial education and planning services.

Daintree Asset Management Limited has remained dormant.

14. Debtors

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Due within one year
Trade debtors	73,522	73,545	-	-
Amounts owed by group undertakings	-	-	900	900
Other debtors	33,609	37,031	698	566

	107,131	110,576	1,598	1,466

There was no bad debt provision at either year end date.

15. Creditors: Amounts Falling Due Within One Year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	7,618	7,618	-	-
Trade creditors	14,781	12,559	1,200	-
Bank loans and overdrafts	55,255	55,255	5,255	5,255
Other loans	-	431	-	-
Amounts owed to group undertakings	-	-	8,600	8,400
Other creditors	13,814	14,949	7,176	8,963
Corporation tax	114,112	69,021	-	-
Taxation and social security	27,927	16,619	-	-
Accruals and deferred income	34,600	25,403	1,000	1,000

	268,107	201,855	23,231	23,618

16. Creditors: Amounts Falling Due After More Than One Year

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Net obligations under finance lease and hire purchase contracts	49,869	57,487	-	-
Bank loans	68,083	123,323	30,583	35,823

	117,952	180,810	30,583	35,823

The following secured debts are included within creditors:

	Group
	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	57,487	65,105

The lease is secured on the vehicle it finances.

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

17. Loans

An analysis of the maturity of loans is given below:

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Amounts falling due within one year or on demand:
Bank loans	55,255	55,255	5,255	5,255
Other loans	-	431	-	-

	55,255	55,686	5,255	5,255

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Amounts falling due between one and five years:
Bank loans	68,083	123,323	30,583	35,823

18. Obligations Under Finance Leases and Hire Purchase

	Group
	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	7,618	7,618
Later than one year and not later than five years	49,869	57,487

	57,487	65,105

	57,487	65,105

19. Provisions for Liabilities

Group
	Deferred Tax	Total
	£	£
As at 1 January 2024	18,143	18,143
Reversals	(3,436 )	(3,436)

Balance at 31 December 2024	14,707	14,707

Deferred tax comprises accelerated capital allowances at each year end.

20. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
767 Ordinary A1 shares of £ 1 each	767	767

Page 23

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

21. Financial Instruments

The group has the following financial instruments:

	Group		Company
	2024	2023	2024	2023
	£	£	£	£
Financial assets
Financial assets measured at fair value through profit and loss	209,613	56,949	209,613	56,949

Financial liabilities
Financial liabilities measured at amortised cost	180,825	188,428	180,285	188,428

22. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2024	2023
	£	£
Not later than one year	31,725	42,300
Later than one year and not later than five years	-	21,150

	31,725	63,450

23. Pension Commitments

The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.

During the year the charge to profit or loss in respect of the defined contribution scheme was £8,203 (2023: £5,190).

At the statement of financial position date contributions of £2,655 (2023: £1,158) were due to the fund and are included in creditors.

24. Dividends

	2024	2023
	£	£
On equity shares:
Interim dividend paid	86,978	123,000

25. Reserves

Group

	Retained earnings	Share premium	Capital redemption reserve	Totals
	£	£	£	£
At 1 January 2024	309,685	99,825	75	409,585
Profit for the year	334,237	-	-	334,237
Dividends	(86,978)	-	-	(86,978)
At 31 December 2024	556,944	99,825	75	656,844

Retained earnings - this reserve includes all current and prior year retained profits and losses net of distributions to

shareholders.

Share premium account - this reserve represents the premium paid on the allotment of shares.

...CONTINUED

Page 24

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Wellbeing HoldCo Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

Group - continued

Capital redemption reserve - this reserve represents the nominal value of shares purchased by the company in itself and subsequently cancelled.

Company

	Retained earnings	Share premium	Capital redemption reserve	Totals
	£	£	£	£
At 1 January 2023	1,771	99,825	75	101,671
Profit for the year	349,402	-	-	349,402
Dividends	(86,978)	-	-	(86,978)

At 31 December 2024	264,195	99,825	75	364,095

Retained earnings - this reserve includes all current and prior year retained profits and losses net of distributions to

shareholders.

Share premium account - this reserve represents the premium paid on the allotment of shares.

Capital redemption reserve - this reserve represents the nominal value of shares purchased by the company in itself and subsequently cancelled.

26. Related Party Disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

At the year end the company was owed £900 (2023: £900) by, and owed £8,600 (2023: £8,400) to, fellow group companies.

During the year dividends of £53,522 (2023: £72,966) were paid to the directors.

27. Controlling Parties

The controlling party is Mark Parello.

Page 25