1 April 2024 v2025.67.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP113816852024-04-012025-03-31113816852025-03-31113816852024-03-3111381685core:WithinOneYear2025-03-3111381685core:WithinOneYear2024-03-3111381685core:AfterOneYear2025-03-3111381685core:AfterOneYear2024-03-3111381685core:ShareCapital2025-03-3111381685core:ShareCapital2024-03-3111381685core:RetainedEarningsAccumulatedLosses2025-03-3111381685core:RetainedEarningsAccumulatedLosses2024-03-3111381685bus:Director12024-04-012025-03-3111381685bus:RegisteredOffice2024-04-012025-03-3111381685core:NetGoodwill2024-04-012025-03-3111381685core:Goodwill2024-04-012025-03-3111381685core:OfficeEquipment2024-04-012025-03-3111381685core:MotorVehicles2024-04-012025-03-31113816852023-04-012024-03-3111381685core:NetGoodwill2025-03-3111381685core:PlantMachinery2025-03-3111381685core:PlantMachinery2024-04-0111381685core:PlantMachinery2024-04-012025-03-3111381685core:PlantMachinery2024-03-311138168512024-04-012025-03-3111381685countries:EnglandWales2024-04-012025-03-3111381685bus:AuditExemptWithAccountantsReport2024-04-012025-03-3111381685bus:PrivateLimitedCompanyLtd2024-04-012025-03-3111381685bus:SmallEntities2024-04-012025-03-3111381685bus:FullAccounts2024-04-012025-03-31
Company registration number:
11381685
PSG Wealth Management Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2025
PSG Wealth Management Ltd
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of PSG Wealth Management Ltd
Year ended
31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
PSG Wealth Management Ltd
for the year ended
31 March 2025
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
PSG Wealth Management Ltd
, as a body, in accordance with the terms of my engagement letter dated 1 November 2023. My work has been undertaken solely to prepare for your approval the
financial statements
of
PSG Wealth Management Ltd
and state those matters that I have agreed to state to the Board of Directors of
PSG Wealth Management Ltd
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
PSG Wealth Management Ltd
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
PSG Wealth Management Ltd
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
PSG Wealth Management Ltd
. You consider that
PSG Wealth Management Ltd
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of PSG Wealth Management Ltd. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Thomas James Chartered Accountants
Mayfield Ash Tree Farm
Oxbridge Lane
Stockton-on-Tees
TS18 4HY
United Kingdom
PSG Wealth Management Ltd
Statement of Financial Position
31 March 2025
20252024
Note££
Fixed assets    
Tangible assets 6
82,927
 
104,485
 
Current assets    
Debtors 7
108,891
 
93,299
 
Cash at bank and in hand
57,764
 
19,067
 
166,655
 
112,366
 
Creditors: amounts falling due within one year 8
(173,461
 )
(297,414
 )
Net current liabilities
(6,806
 )
(185,048
 )
Total assets less current liabilities 76,121   (80,563 )
Creditors: amounts falling due after more than one year 9
(75,833
 )
(98,872
 )
Net assets/(liabilities)
288
 
(179,435
 )
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account
278
 
(179,445
 )
Shareholders funds/(deficit)
288
 
(179,435
 )
For the 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.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
10 October 2025
, and are signed on behalf of the board by:
P Gilsenan
Director
Company registration number:
11381685
PSG Wealth Management Ltd
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Unit 1 & 5 Level Q Phoenix House
,
Surtees Business Park
,
Stockton-On-Tees
,
TS18 3HR
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

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

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Goodwill

Goodwill being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimates useful life of 5 years.

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.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
20% straight line

Tangible assets

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% reducing balance
Motor vehicles
20% straight line

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution pension plan

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.

4 Average number of employees

The average number of persons employed by the company during the year was
9
(2024:
9.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 April 2024
and
31 March 2025
1,330,000
 
Amortisation  
At
1 April 2024
and
31 March 2025
1,330,000
 
Carrying amount  
At
31 March 2025
 -  
At 31 March 2024 -  

6 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2024
and
31 March 2025
116,624
 
Depreciation  
At
1 April 2024
12,139
 
Charge
21,558
 
At
31 March 2025
33,697
 
Carrying amount  
At
31 March 2025
82,927
 
At 31 March 2024
104,485
 

7 Debtors

20252024
££
Trade debtors
103,391
 
88,299
 
Other debtors
5,500
 
5,000
 
108,891
 
93,299
 

8 Creditors: amounts falling due within one year

20252024
££
Bank loans and overdrafts
9,240
 
9,240
 
Taxation and social security
87,115
 
18,906
 
Other creditors
77,106
 
269,268
 
173,461
 
297,414
 

9 Creditors: amounts falling due after more than one year

20252024
££
Bank loans and overdrafts
19,462
 
25,081
 
Other creditors
56,371
 
73,791
 
75,833
 
98,872