Cooper Associates Wealth Management Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 06890675 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Cooper Associates Wealth Management

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr L A Cooper

Mr J Cooper

Mrs D Cooper

Mrs S D Jackson

REGISTERED OFFICE:

40 St James Buildings

St James Street

Taunton

Somerset

TA1 1JR

REGISTERED NUMBER:

06890675 (England and Wales)

ACCOUNTANTS:

A C Mole LLP

Stafford House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Intangible assets

4

7,909,645

2,861,246

Tangible assets

5

68,599

69,711

Investments

6

24,480

8,002,724

2,955,437

CURRENT ASSETS

Debtors

7

2,639,000

2,044,910

Cash at bank

1,043,366

190,339

3,682,366

2,235,249

CREDITORS

Amounts falling due within one year

8

2,402,370

1,229,535

NET CURRENT ASSETS

1,279,996

1,005,714

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,282,720

3,961,151

CREDITORS

Amounts falling due after more than one
year

9

(5,801,461

)

(2,491,024

)

PROVISIONS FOR LIABILITIES

11

(2,473,836

)

(544,337

)

NET ASSETS

1,007,423

925,790

CAPITAL AND RESERVES

Called up share capital

12

100

Retained earnings

1,007,323

925,690

SHAREHOLDERS' FUNDS

1,007,423

925,790

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 22 September 2025 and were signed on its behalf by:

Mrs D Cooper - Director

1.	STATUTORY INFORMATION

Cooper Associates 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.

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.

Group accounts not prepared

The company is the parent of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Significant judgements and estimates

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key judgements and estimates that have a significant effect on the financial statements are as follows:

During the year, the company made two acquisitions . The company is required to pay additional amounts for the acquisition, payable after the year end and dependent on future performance.

The directors expect the performance criteria to be met and therefore estimate that the full amount of contingent consideration of £2,446,027 will be paid. This amount is included in provisions for liabilities.

Goodwill, relating to the acquisition of other companies is carried at cost, less amortisation and any subsequent accumulated impairment loss. This requires an estimation in the amortisation rates, as well as assessment of the ongoing economic contribution of the companies as to whether an indicator of impairment has occurred. The carrying amount is £7,909,645 (2023: £2,861,246).

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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

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.

Improvements to property

-

4% on cost

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors together with loans from related parties.

Debt instruments, such as trade debtors and creditors and intercompany balances, are initially measured at transaction price and subsequently measured at amortised cost.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

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

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.

Business combinations

Business combinations are accounted for using the acquisition method in accordance with FRS 102.

The cost of a business combination is measured as the fair value of the consideration transferred at the acquisition date, including any contingent consideration where the payment is probable and can be measured reliably. Direct costs attributable to the combination are expensed as incurred.

At the acquisition date, the identifiable assets acquired and liabilities assumed are recognised at their fair values. Any excess of the cost of acquisition over the fair value of the net identifiable assets is recognised as goodwill. If the fair value of the net assets acquired exceeds the cost of acquisition, the difference is recognised immediately in profit or loss as negative goodwill.

Goodwill is capitalised and amortised on a straight-line basis over its estimated useful economic life, which does not exceed 10 years. Goodwill is reviewed for impairment if there are indicators of impairment.

Post-acquisition results of the acquired business are included in the profit and loss account from the date of acquisition.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

4,703,182

Hive up

5,564,516

At 31 December 2024

10,267,698

AMORTISATION

At 1 January 2024

1,841,936

Charge for year

516,117

At 31 December 2024

2,358,053

NET BOOK VALUE

At 31 December 2024

7,909,645

At 31 December 2023

2,861,246

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

COST

At 1 January 2024

100,879

55,942

59,919

216,740

Additions

-

8,097

Disposals

-

(21,191

)

(21,191

)

At 31 December 2024

100,879

55,942

46,825

203,646

DEPRECIATION

At 1 January 2024

42,185

50,413

54,431

147,029

Charge for year

4,035

1,106

2,466

7,607

Eliminated on disposal

-

(19,589

)

(19,589

)

At 31 December 2024

46,220

51,519

37,308

135,047

NET BOOK VALUE

At 31 December 2024

54,659

4,423

9,517

68,599

At 31 December 2023

58,694

5,529

5,488

69,711

6.	FIXED ASSET INVESTMENTS

Investment

in

subsidiaries

£

COST

At 1 January 2024

24,480

Additions

5,858,011

Impairments

(293,495

)

Reclassification/transfer

(5,564,516

)

At 31 December 2024

24,480

NET BOOK VALUE

At 31 December 2024

24,480

At 31 December 2023

24,480

During the year the company acquired 100% of the share capital of Four Wealth Management Limited and 100% of the share capital of Neptune Financial Management.

At the acquisition date, the trade and assets of each of the subsidiaries were hived-up into the company. As part of the hive-up, the subsidiaries ceased to trade and their assets and liabilities were transferred at Fair Value in accordance with the acquisition method under FRS 102. The fair value of net assets acquired amounted to £293,495 resulting in goodwill of £5,564,516.

In accordance with FRS 102 the residual reserves of the subsidiaries were distributed to the company and the cost of investment has been impaired to reflect this transaction.

The financial statements include the results of the hived-up entities from the date of acquisition.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

872,584

566,056

Amounts owed by group undertakings

1,760,416

1,471,693

Other debtors

6,000

1,026

Directors' current accounts

-

6,135

2,639,000

2,044,910

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

SJP loans (see note 10)

635,370

205,950

Trade creditors

1,455,033

806,474

Amounts owed to group undertakings

4,132

47,718

Tax

245,086

96,368

Social security and other taxes

31,407

18,399

Other creditors

3,758

3,320

Accruals and deferred income

27,584

51,306

2,402,370

1,229,535

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

SJP loans (see note 10)

5,801,461

2,491,024

10.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

Amounts falling due within one year or on demand:

SJP loans

635,370

205,950

Amounts falling due between one and two years:

SJP loans > 1 year

5,801,461

2,491,024

11.	PROVISIONS FOR LIABILITIES

At 31 December 2024 the company had a deferred contingent consideration liability of £2,446,027 (2023: £544,337) in respect of acquisitions made during the year. This liability relates to deferred acquisition consideration payments which are subject to agreed performance criteria being achieved.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary shares of £1 each

1

100

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

Mr J Cooper

Balance outstanding at start of year

5,000

Amounts repaid

(5,000

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

5,000

Mr L A Cooper

Balance outstanding at start of year

1,135

Amounts repaid

(1,135

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

1,135

14.	RELATED PARTY DISCLOSURES

The company paid £639,007 for paraplanning fees to subsidiary company, LKD Paraplanning Ltd. All transactions were conducted on normal commercial terms and in the ordinary course of business. At the year end, £67,155 (2023: £44,070) was payable to LKD Paraplanning Ltd.