Registered number
08916925
V S Wealth Management Ltd
Unaudited Filleted Accounts
31 December 2024
V S Wealth Management Ltd
Registered number: 08916925
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,492 8,115
Tangible assets 4 7,386 8,812
Investments 5 3,176,106 3,267,474
3,189,984 3,284,401
Current assets
Debtors 6 76,478 30,757
Cash at bank and in hand 122,402 110,136
198,880 140,893
Creditors: amounts falling due within one year 7 (501,438) (465,867)
Net current liabilities (302,558) (324,974)
Total assets less current liabilities 2,887,426 2,959,427
Creditors: amounts falling due after more than one year 8 (2,171,034) (2,410,049)
Provisions for liabilities (1,846) (2,203)
Net assets 714,546 547,175
Capital and reserves
Called up share capital 200 200
Profit and loss account 714,346 546,975
Shareholders' funds 714,546 547,175
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
V Shah
Director
Approved by the board on 25 September 2025
V S Wealth Management Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the rendering of services.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings & equipment 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 16,235
At 31 December 2024 16,235
Amortisation
At 1 January 2024 8,120
Provided during the year 1,623
At 31 December 2024 9,743
Net book value
At 31 December 2024 6,492
At 31 December 2023 8,115
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2024 25,388
Additions 420
At 31 December 2024 25,808
Depreciation
At 1 January 2024 16,576
Charge for the year 1,846
At 31 December 2024 18,422
Net book value
At 31 December 2024 7,386
At 31 December 2023 8,812
5 Investments
Other
investments
£
Cost
At 1 January 2024 3,267,474
Disposals (91,368)
At 31 December 2024 3,176,106
6 Debtors 2024 2023
£ £
Other debtors 76,478 30,757
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 338,467 345,325
Taxation and social security costs 123,133 99,241
Other creditors 39,838 21,301
501,438 465,867
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,171,034 2,410,049
9 Controlling party
The controlling party is V Shah, the company director.
10 Other information
V S Wealth Management Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit B4
Livingstone Court, 55 Peel Road
Wealdstone
Harrow
HA3 7QT
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