Registration number: 05264623

AFS Wealth Management Limited

Contents

Company Information	1
Profit and Loss Account and Statement of Retained Earnings	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 10

AFS Wealth Management Limited

Company Information

Director

Mr NE Evans

Company secretary

Mrs SW Wheatley

Registered office

Unit 4 Cherry Orchard Newcastle under Lyme Staffordshire ST5 2UB

AFS Wealth Management Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2025

	Note	2025 £	2024 £
Turnover		723,709	607,862
Cost of sales		(9,024)	(37,193)
Gross profit		714,685	570,669
Administrative expenses		(527,130)	(415,264)
Operating profit		187,555	155,405
Other interest receivable and similar income		1,653	1,059
Interest payable and similar charges		(45,098)	(47,449)
		(43,445)	(46,390)
Profit before tax		144,110	109,015
Taxation		(51,638)	(39,383)
Profit for the financial year		92,472	69,632
Retained earnings brought forward		44,448	53,223
Dividends paid		(80,000)	(78,407)
Retained earnings carried forward		56,920	44,448

AFS Wealth Management Limited

(Registration number: 05264623)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	485,164	533,719
Tangible assets	5	51,400	57,592
		536,564	591,311
Current assets
Debtors	6	58,656	36,443
Cash at bank and in hand		60,005	110,407
		118,661	146,850
Creditors: Amounts falling due within one year	7	(218,337)	(176,085)
Net current liabilities		(99,676)	(29,235)
Total assets less current liabilities		436,888	562,076
Creditors: Amounts falling due after more than one year	7	(377,974)	(516,491)
Provisions for liabilities		(1,894)	(1,037)
Net assets		57,020	44,548
Capital and reserves
Called up share capital	8	100	100
Retained earnings		56,920	44,448
Shareholders' funds		57,020	44,548

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 September 2025
 

......................................... Mr NE Evans Director

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Unit 4 Cherry Orchard
Newcastle under Lyme
Staffordshire
ST5 2UB
England

These financial statements were authorised for issue by the director on 23 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings & equipment	20% reducing balance basis
Motor vehicles	25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill acquired in 2004 Goodwill acquired in 2015 Goodwill acquired in 2020	Straightline over 20 years Straightline over 6 years Straightline over 15 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. The share capital disclosed on the balance sheet is allotted, called up and fully paid.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2024 - 8).

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	738,131	738,131
At 31 March 2025	738,131	738,131
Amortisation
At 1 April 2024	204,412	204,412
Amortisation charge	48,555	48,555
At 31 March 2025	252,967	252,967
Carrying amount
At 31 March 2025	485,164	485,164
At 31 March 2024	533,719	533,719

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	35,956	79,485	115,441
Additions	9,452	-	9,452
At 31 March 2025	45,408	79,485	124,893
Depreciation
At 1 April 2024	23,075	34,774	57,849
Charge for the year	4,466	11,178	15,644
At 31 March 2025	27,541	45,952	73,493
Carrying amount
At 31 March 2025	17,867	33,533	51,400
At 31 March 2024	12,881	44,711	57,592

6

Debtors

Current	2025 £	2024 £
Trade debtors	58,116	35,925
Prepayments	540	518
	58,656	36,443

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	139,796	108,959
Trade creditors		1,559	753
Taxation and social security		56,616	45,197
Accruals and deferred income		19,006	18,919
Other creditors		1,360	2,257
		218,337	176,085

AFS Wealth Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	377,974	516,491

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

9	Loans and borrowings

Other borrowings

Business loan 1 is denominated in GBP with a nominal interest rate of 8.75%, and the final instalment is due on 1 June 2029. The carrying amount at year end is £286,095 (2024 - £344,314).

Business loan 2 is denominated in GBP with a nominal interest rate of 8.75%, and the final instalment is due on 1 June 2024. The carrying amount at year end is £Nil (2024 - £1,295).

Bounce back loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 31 July 2026. The carrying amount at year end is £16,900 (2024 - £27,569).

Business loan 3 is denominated in GBP with a nominal interest rate of 8.75%, and the final instalment is due on 29 May 2029. The carrying amount at year end is £84,149 (2024 - £101,273).

Business loan 4 is denominated in GBP with a nominal interest rate of 8.75%, and the final instalment is due on 30 November 2033. The carrying amount at year end is £86,656 (2024 - £96,664).

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £9,000 (2024 - £21,000).

11	Related party transactions

The director Mr N Evans has given a personal guarantee for a loan, the amount outstanding at 31 March 2025 is £456,900 ((2024 :- £543,546).