REGISTERED NUMBER: 09244611 (England and Wales)

HEARNDEN & WESTON WEALTH MANAGEMENT

LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N J Hearnden

A C Poole

REGISTERED OFFICE:

The Old School House

2360 Stratford Road

Hockley Heath

Solihull

West Midlands

B94 6QT

REGISTERED NUMBER:

09244611 (England and Wales)

ACCOUNTANTS:

Sephton & Company LLP

Chartered Certified Accountants

Marston House

5 Elmdon Lane

Marston Green

Solihull

West Midlands

B37 7DL

FIXED ASSETS

Intangible assets

4

2,812,696

2,999,550

Tangible assets

5

102,547

135,118

2,915,243

3,134,668

CURRENT ASSETS

Debtors

6

379,644

377,376

Cash at bank and in hand

100,665

131,607

480,309

508,983

CREDITORS

Amounts falling due within one year

7

623,542

642,831

NET CURRENT LIABILITIES

(143,233

)

(133,848

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,772,010

3,000,820

CREDITORS

Amounts falling due after more than one year

8

(2,533,029

)

(2,779,495

)

PROVISIONS FOR LIABILITIES

(25,637

)

(25,672

)

NET ASSETS

213,344

195,653

CAPITAL AND RESERVES

Called up share capital

101

101

Retained earnings

213,243

195,552

SHAREHOLDERS' FUNDS

213,344

195,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 3 November 2025 and were signed on its behalf by:

N J Hearnden - Director

1.	STATUTORY INFORMATION

Hearnden & Weston 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

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

Goodwill

Goodwill is being amortised evenly over its estimated useful life ranging from 10 to 20 years.

Estimates of the useful economic life of goodwill are based upon a variety of factors such as the expected use of the acquired business, the expected life of the income generating units to which the goodwill is attributed, any legal, regulatory or contractual provisions that can limit useful life and assumptions that market participants would consider in respect of similar businesses.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

3,384,696

AMORTISATION

At 1 April 2024

385,146

Charge for year

186,854

At 31 March 2025

572,000

NET BOOK VALUE

At 31 March 2025

2,812,696

At 31 March 2024

2,999,550

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

18,991

188,326

26,938

234,255

Additions

259

-

2,098

2,357

At 31 March 2025

19,250

188,326

29,036

236,612

DEPRECIATION

At 1 April 2024

9,025

74,746

15,366

99,137

Charge for year

1,529

28,394

5,005

34,928

At 31 March 2025

10,554

103,140

20,371

134,065

NET BOOK VALUE

At 31 March 2025

8,696

85,186

8,665

102,547

At 31 March 2024

9,966

113,580

11,572

135,118

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

and 31 March 2025

188,326

DEPRECIATION

At 1 April 2024

74,746

Charge for year

28,394

At 31 March 2025

103,140

NET BOOK VALUE

At 31 March 2025

85,186

At 31 March 2024

113,580

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

as restated

£

£

Trade debtors

241,731

126,339

Other debtors

137,913

251,037

379,644

377,376

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

as restated

£

£

Bank loans and overdrafts

293,676

288,019

Hire purchase contracts (see note 9)

44,315

19,986

Trade creditors

96,707

198,382

Taxation and social security

181,908

129,783

Other creditors

6,936

6,661

623,542

642,831

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

as restated

£

£

Bank loans

2,453,033

2,654,707

Hire purchase contracts (see note 9)

79,996

124,788

2,533,029

2,779,495

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,213,606

1,466,171

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

31/3/25

31/3/24

as restated

£

£

Net obligations repayable:

Within one year

44,315

19,986

Between one and five years

79,996

124,788

124,311

144,774

Non-cancellable

operating leases

31/3/25

31/3/24

as restated

£

£

Within one year

48,588

48,588

Between one and five years

48,294

96,294

96,882

144,882

10.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/25

31/3/24

as restated

£

£

Bank loans

2,746,709

2,942,726

Hire purchase contracts

124,311

144,774

2,871,020

3,087,500

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 March 2025 and the period ended 31 March 2024:

31/3/25

31/3/24

as restated

£

£

N J Hearnden

Balance outstanding at start of year

47,605

-

Amounts advanced

49,506

47,605

Amounts repaid

(47,605

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

49,506

47,605

12.	PRIOR YEAR ADJUSTMENT

In the previous two years, the company's goodwill of £3,032,271 was incorrectly classified as an investment rather than an intangible asset. The goodwill is now presented in 'intangible assets'. Additionally, as a consequence of the intangible asset classification in the balance sheet, amortisation of £290,592 should have been provided. The directors of the company have therefore made a prior year adjustment to correct the material error.

Opening retained earnings in the comparatives to these financial statements have been amended by £75,806. Opening profit and loss reserves to this year's financial statements have been amended by a further £214,786, resulting in a cumulative impact on the retained earnings as previously stated at 31 March 2024 of £290,592.