Company Registration No. 07816220 (England and Wales)
FIRST WEALTH MANAGEMENT LIMITED
Unaudited accounts
for the year ended 31 December 2024
FIRST WEALTH MANAGEMENT LIMITED
Unaudited accounts
Contents
FIRST WEALTH MANAGEMENT LIMITED
Company Information
for the year ended 31 December 2024
Company Number
07816220 (England and Wales)
Registered Office
SUITE 2, THIRD FLOOR, 47 DORSET STREET
LONDON
W1U 7NB
UNITED KINGDOM
FIRST WEALTH MANAGEMENT LIMITED
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
7,210
2,132
Creditors: amounts falling due within one year
(187,492)
(248,081)
Net current assets
74,363
40,368
Total assets less current liabilities
74,363
50,955
Creditors: amounts falling due after more than one year
(69,164)
(46,316)
Called up share capital
100
100
Profit and loss account
5,099
4,539
Shareholders' funds
5,199
4,639
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 August 2025 and were signed on its behalf by
Caroline Cohen
Director
Company Registration No. 07816220
FIRST WEALTH MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 December 2024
FIRST WEALTH MANAGEMENT LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07816220. The registered office is SUITE 2, THIRD FLOOR, 47 DORSET STREET, LONDON, W1U 7NB, UNITED KINGDOM.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
FIRST WEALTH MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 December 2024
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Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 January 2024
6,254
60,500
66,754
Disposals
-
(60,500)
(60,500)
At 31 December 2024
6,254
-
6,254
At 1 January 2024
6,254
49,913
56,167
On disposals
-
(49,913)
(49,913)
At 31 December 2024
6,254
-
6,254
At 31 December 2023
-
10,587
10,587
Amounts falling due within one year
Other debtors
254,645
286,317
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
24,173
9,788
Trade creditors
63,531
108,785
Taxes and social security
75,017
89,285
Other creditors
14,771
40,223
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Creditors: amounts falling due after more than one year
2024
2023
Mr Joe Edward Cohen, Mrs Caroline Cohen, Ms Natasha Naomie Cohen and Mr Benjamin Albert Daniel Cohen jointly control the company by virtue of 100% of the issued ordinary share capital. Mrs Caroline Cohen is working as a director of company.
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Average number of employees
During the year the average number of employees was 5 (2023: 3).