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| Registered number: 04522114
WEALTH CLUB ASSET MANAGEMENT LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
WEALTH CLUB ASSET MANAGEMENT LIMITED COMPANY INFORMATION
DIRECTORS | G E Bowen (resigned 28 February 2025)
| A J F Davies
| M Caricato
| R G Richards
| S A H Leech
| S F S Power
REGISTERED NUMBER | 04522114
REGISTERED OFFICE | 20 Richmond Hill
| Bristol
| BS8 1BA
INDEPENDENT AUDITORS | Bishop Fleming Audit Limited
| Chartered Accountants & Statutory Auditors
| 10 Temple Back
| Bristol
| BS1 6FL
WEALTH CLUB ASSET MANAGEMENT LIMITED CONTENTS
| Page
Strategic report | 1
Directors' report | 2 - 3
Directors' responsibilities statement | 4
Independent auditors' report | 5 - 8
Statement of income and retained earnings | 9
Statement of financial position | 10
Notes to the financial statements | 11 - 18
WEALTH CLUB ASSET MANAGEMENT LIMITED STRATEGIC REPORT FOR THE YEAR ENDED 30 JUNE 2025
INTRODUCTION
Wealth Club, the parent company of Wealth Club Asset Management, is an investment platform for high net worth and sophisticated investors.
BUSINESS REVIEW
Wealth Club Asset Management provides the Wealth Club Nominee Service, a strategic element for the Wealth Club Group. The Company's principal activities during the year were safeguarding and administering investor capital and assets. It is a MiFID firm and has the significant regulatory permissions to hold client money and safeguard and administer client assets. The Company also holds discretionary fund management permissions, which enables Wealth Club to offer discretionary managed portfolios.
PRINCIPAL RISKS AND UNCERTAINTIES
The greatest external risk to our business is any changes in the economic, political and fiscal environment. A recession, changes to tax rules or a dip in investor sentiment could all impact our business and present challenges.
FINANCIAL KEY PERFORMANCE INDICATORS
Profit before tax increased to £195k (2024: £15k). This report was approved by the board on 21 October 2025 and signed on its behalf.
A J F Davies Director
Page 1
WEALTH CLUB ASSET MANAGEMENT LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 30 JUNE 2025 The directors present their report and the financial statements for the year ended 30 June 2025.
PRINCIPAL ACTIVITY
The principal activity during the year was administering the safeguarding of Wealth Club investor capital and assets made through the Wealth Club nominee service. Commission is still received relating to the former activities of the business, an execution only discount broker of VCT’s and other investment products.
RESULTS AND DIVIDENDS
The profit for the year, after taxation, amounted to £141,081 (2024:£12,295). Dividends paid during the year amounted to £NIL (2024: £750,000).
DIRECTORS
The directors who served during the year were:
G E Bowen (resigned 28 February 2025)
A J F Davies
M Caricato
R G Richards
S A H Leech
S F S Power
MATTERS COVERED IN THE STRATEGIC REPORT
The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 requires a Strategic Report to be prepared. Where mandatory disclosures in the Directors' Report are considered by the directors to be of strategic importance these have been included within the Strategic Report rather than the Directors' Report.
DISCLOSURE OF INFORMATION TO AUDITORS
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
POST BALANCE SHEET EVENTS
There have been no significant events affecting the Company since the year end.
AUDITORS
The auditors, Bishop Fleming Audit Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006. Page 2
WEALTH CLUB ASSET MANAGEMENT LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025 This report was approved by the board and signed on its behalf.
A J F Davies Director
Date: 21 October 2025
20 Richmond Hill
Bristol
BS8 1BA
Page 3
WEALTH CLUB ASSET MANAGEMENT LIMITED DIRECTORS' RESPONSIBILITIES STATEMENT FOR THE YEAR ENDED 30 JUNE 2025 The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 4
WEALTH CLUB ASSET MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEALTH CLUB ASSET MANAGEMENT LIMITED
OPINION
We have audited the financial statements of Wealth Club Asset Management Limited (the 'Company') for the year ended 30 June 2025, which comprise the Statement of income and retained earnings, the Statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 30 June 2025 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
OTHER INFORMATION
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 5
WEALTH CLUB ASSET MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEALTH CLUB ASSET MANAGEMENT LIMITED (CONTINUED)
OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
RESPONSIBILITIES OF DIRECTORS
As explained more fully in the Directors' responsibilities statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 6
WEALTH CLUB ASSET MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEALTH CLUB ASSET MANAGEMENT LIMITED (CONTINUED)
AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered the following: ∙the nature of the industry and sector, control environment and business performance; ∙the results of our enquiries of management and the directors about their own identification and assessment of the risk of irregularities; ∙any matters we identified having obtained and reviewed the Group's documentation of their policies and procedures relating to: °identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; °detecting and responding to the risk of fraud and whether they have knowledge of actual, suspected, or alleged fraud; and °the internal controls established to mitigate the risks of fraud or non-compliance with laws and regulations. ∙the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud, and incorrect recognition of revenue was identified as the greatest potential area for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override of controls. We also obtained an understanding of the legal and regulatory frameworks that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Financial Reporting Standard 102 and UK tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Group's ability to operate or to avoid a material penalty. These included health and safety regulations, employment legislation, data protection laws and regulations stipulated by the Financial Conduct Authority (FCA). Our procedures to respond to risks identified included the following: ∙reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; ∙enquiring of management concerning actual and potential litigation claims; ∙reviewing the financial statement disclosures and testing to supporting documentation to assess the recognition of revenue; ∙reviewing Board meeting minutes; ∙reviewing correspondence with the FCA for indications of non-compliance; and ∙in addressing the risk of fraud through management override of controls, testing the appropriateness of Page 7
WEALTH CLUB ASSET MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WEALTH CLUB ASSET MANAGEMENT LIMITED (CONTINUED) journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from an error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.
USE OF OUR REPORT
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Stuart Crisp BSc FCA (Senior statutory auditor) for and on behalf of Bishop Fleming Audit Limited Chartered Accountants Statutory Auditors 10 Temple Back Bristol BS1 6FL 21 October 2025 Page 8
WEALTH CLUB ASSET MANAGEMENT LIMITED STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEAR ENDED 30 JUNE 2025
| 2025 | 2024
| £ | £
Turnover | 4 | 859,539 | 606,406
Cost of sales |  | (102,035) | (110,874)
Gross profit |  | 757,504 | 495,532
Administrative expenses |  | (637,503) | (529,485)
Operating profit/(loss) |  | 120,001 | (33,953)
Interest receivable and similar income | 7 | 75,061 | 49,694
Interest payable and similar expenses |  | - | (289)
Profit before tax |  | 195,062 | 15,452
Tax on profit | 9 | (53,981) | (3,157)
Profit after tax |  | 141,081 | 12,295
Retained earnings at the beginning of the year |  | 1,168,520 | 1,906,225
|  | 1,168,520 | 1,906,225
Profit for the year |  | 141,081 | 12,295
Dividends declared and paid |  | - | (750,000)
Retained earnings at the end of the year |  | 1,309,601 | 1,168,520
There were no recognised gains and losses for 2025 or 2024 other than those included in the statement of income and retained earnings.
The notes on pages 11 to 18 form part of these financial statements.
Page 9
WEALTH CLUB ASSET MANAGEMENT LIMITED REGISTERED NUMBER:04522114 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 11 |  | 1 |  | 1
|  |  | 1 |  | 1
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 12 | 198,963 |  | 203,943 |
Current asset investments | 13 | 609 |  | - |
Cash at bank and in hand | 14 | 1,329,827 |  | 1,138,151 |
|  | 1,529,399 |  | 1,342,094 |
Creditors: amounts falling due within one year | 15 | (219,699) |  | (173,475) |
Net current assets |  |  | 1,309,700 |  | 1,168,619
Total assets less current liabilities |  |  | 1,309,701 |  | 1,168,620
Net assets |  |  | 1,309,701 |  | 1,168,620
Capital and reserves |  |  |  |  |
Called up share capital | 16 |  | 100 |  | 100
Profit and loss account |  |  | 1,309,601 |  | 1,168,520
|  |  | 1,309,701 |  | 1,168,620
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
A J F Davies
Director
Date: 21 October 2025
The notes on pages 11 to 18 form part of these financial statements. Page 10
WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | GENERAL INFORMATION
Wealth Club Asset Management Limited is a private limited company, limited by shares, incorporated and registered in England and Wales within the United Kingdom. Its registered number is 04522114. Its registered office is 20 Richmond Hill, Bristol, BS8 1BA. 2.ACCOUNTING POLICIES
| 2.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3). FRS 102 allows a qualifying entity certain disclosure exemptions, subject to certain conditions, which have been complied with. The company has taken advantage of the following exemption from preparing a statement of cash flows on the basis that it is a qualifying entity and its ultimate parent company, Wealth Club Limited, includes the company's cash flows in its Consolidated Statement of Cash Flows. The following principal accounting policies have been applied:
| 2.2 | GOING CONCERN
The directors have prepared forecasts including cash flow projections and carefully considered the recent events and any reasonably foreseeable changes in market conditons that may arise. With these in mind, the directors have considered the ability to continue as a going concern and believe this to be an appropriate basis on which to prepare accounts as the directors have the resources and intend to continue to support the company for the foreseeable future.
| 2.3 | REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
| 2.4 | INTEREST INCOME
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | FINANCE COSTS
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 11
WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.6 | TAXATION
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income.
| 2.7 | VALUATION OF INVESTMENTS
Investments in subsidiaries are measured at cost less accumulated impairment.
| 2.8 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.9 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | FINANCIAL INSTRUMENTS
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the Page 12
WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.ACCOUNTING POLICIES (CONTINUED)
| 2.10 | FINANCIAL INSTRUMENTS (CONTINUED)
asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.11 | DIVIDENDS
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 13
WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
3. | JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
The preparation of financial statements in conformity with FRS 102 requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based upon historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making judgments about carrying values of assets and liabilities that are not readily available from other sources. Actual results may subsequently differ from these estimates. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The valuation of rebates payable in Wealth Club Asset Management is determined through judgement and estimation of amounts payable are based on past experience. There’s an inherent risk that such amounts may not be payable and there is a market risk due to a change in market conditions (for rebates on income based on net asset value), and directors take this risk into account when projecting rebates payable.
4. | TURNOVER
The whole of the turnover is attributable to the principal activity.
| All turnover arose within the United Kingdom.
5. | AUDITORS' REMUNERATION
| Fees payable to the auditor in respect of audit and other services are bome in the parent company.
6. | EMPLOYEES
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2025 | 2024
|  |  | No. | No.
|  | Directors | 6 | 6
7. | INTEREST RECEIVABLE
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank interest receivable | 75,061 | 49,694
|  | 75,061 | 49,694
Page 14
WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
8. | INTEREST PAYABLE AND SIMILAR EXPENSES
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Interest payable | - | 289
|  | - | 289
9. | TAXATION
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| CORPORATION TAX |  |
| Current tax on profits for the year | 53,981 | 3,157
|  | 53,981 | 3,157
| TOTAL CURRENT TAX | 53,981 | 3,157
| DEFERRED TAX |  |
| TOTAL DEFERRED TAX | - | -
| TAX ON PROFIT | 53,981 | 3,157
| FACTORS AFFECTING TAX CHARGE FOR THE YEAR
| The tax assessed for the year is higher than (2024:lower than) the standard rate of corporation tax in the UK of 25% (2024:25%). The differences are explained below:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 195,062 | 15,452
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024:25%) | 48,766 | 3,863
| EFFECTS OF: |  |
| Other differences leading to an increase (decrease) in the tax charge | 5,215 | -
| Marginal relief | - | (706)
| TOTAL TAX CHARGE FOR THE YEAR | 53,981 | 3,157
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WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 9.TAXATION (CONTINUED)
| FACTORS THAT MAY AFFECT FUTURE TAX CHARGES
There are no matters that are expected to materially affect future tax charges.
10. | DIVIDENDS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Dividends paid | - | 750,000
|  | - | 750,000
11. | FIXED ASSET INVESTMENTS
|  | Investments in subsidiary companies
|  | £
| COST OR VALUATION |
| At 1 July 2024 | 1
| At 30 June 2025 | 1
| SUBSIDIARY UNDERTAKING
| The following was a subsidiary undertaking of the Company:
| Name | Registered office | Class of shares | Holding
| Wealth Club Nominees Limited | 20 Richmond Hill, Bristol, BS8 1BA | Ordinary | 100%
12. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 63,772 | 49,365
| Amounts owed by group undertakings | - | 19,664
| Prepayments and accrued income | 135,191 | 134,914
|  | 198,963 | 203,943
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WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
13. | CURRENT ASSET INVESTMENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Unlisted investments | 609 | -
|  | 609 | -
14. | CASH AND CASH EQUIVALENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,329,827 | 1,138,151
|  | 1,329,827 | 1,138,151
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 4,222 | 6,327
| Amounts owed to group undertakings | 50,046 | -
| Corporation tax | 53,981 | 3,212
| Other taxation and social security | 17,603 | 11,277
| Accruals and deferred income | 93,847 | 152,659
|  | 219,699 | 173,475
16. | SHARE CAPITAL
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | ALLOTTED, CALLED UP AND FULLY PAID |  |
|  | 50 (2024:50) Ordinary shares of £1.00 each | 50 | 50
|  | 50 (2024:50) Ordinary A shares of £1.00 each | 50 | 50
|  |  | 100 | 100
17. | RELATED PARTY TRANSACTIONS
| The company has taken advantage of the exemption in Financial Reporting Standard 102 Section 33 "Related Party Disclosure" and has not disclosed details of transactions with companies within the group.
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WEALTH CLUB ASSET MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
18. | CONTROLLING PARTY
The immediate and ultimate parent company is Wealth Club Limited, a company registered in England and Wales. Wealth Club Limited is the parent undertaking of the largest and smallest group of undertakings for which group financial statements are drawn up. These financial statements are publicly available from Companies House. The ultimate controlling party is A J F Davies by virtue of his majority shareholding in Wealth Club Limited.
Page 18