REGISTERED NUMBER: 11244679 (England and Wales)

Unaudited Financial Statements

For The Period 1 August 2024 to 4 April 2025

for

Renouf Wealth Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I E W Renouf-Watkins

REGISTERED OFFICE:

Hartpury House

Hartpury University

Hartpury

Gloucestershire

GL19 3BE

REGISTERED NUMBER:

11244679 (England and Wales)

ACCOUNTANTS:

Kingscott Dix Limited

Chartered Accountants

Goodridge Court

Goodridge Avenue

Gloucester

Gloucestershire

GL2 5EN

FIXED ASSETS

Intangible assets

4

814,333

822,016

Tangible assets

5

-

4,616

814,333

826,632

CURRENT ASSETS

Debtors

6

952

21,593

Cash at bank

15,304

73,202

16,256

94,795

CREDITORS

Amounts falling due within one year

7

830,489

102,206

NET CURRENT LIABILITIES

(814,233

)

(7,411

)

TOTAL ASSETS LESS CURRENT LIABILITIES

100

819,221

CREDITORS

Amounts falling due after more than one year

8

-

(792,752

)

PROVISIONS FOR LIABILITIES

-

(877

)

NET ASSETS

100

25,592

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

-

25,492

SHAREHOLDERS' FUNDS

100

25,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 4 April 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 4 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 May 2025 and were signed by:

I E W Renouf-Watkins - Director

1.	STATUTORY INFORMATION

Renouf 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.

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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Goodwill and other intangible assets

Goodwill, being the amount paid in connection with the acquisition of businesses, is being amortised evenly over its estimated useful life of twenty years.

Sums paid on the acquisition of the business in respect of funds under management are amortised over 20 years so far as their net realisable value falls below their original cost.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings - 20% on cost

Computer equipment - 33% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Other financial assets

Other financial assets are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Trade debtors, loans and other debtors that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and debtors'. Loans and debtors are measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the period 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 period 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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 period was 3 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2024

and 4 April 2025

933,807

AMORTISATION

At 1 August 2024

111,791

Charge for period

7,683

At 4 April 2025

119,474

NET BOOK VALUE

At 4 April 2025

814,333

At 31 July 2024

822,016

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 August 2024

9,843

9,592

19,435

Disposals

(9,843

)

(9,592

)

(19,435

)

At 4 April 2025

-

-

-

DEPRECIATION

At 1 August 2024

6,036

8,783

14,819

Charge for period

987

707

1,694

Eliminated on disposal

(7,023

)

(9,490

)

(16,513

)

At 4 April 2025

-

-

-

NET BOOK VALUE

At 4 April 2025

-

-

-

At 31 July 2024

3,807

809

4,616

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

4.4.25

31.7.24

£

£

Trade debtors

-

20,000

Other debtors

100

1,593

Tax

852

-

952

21,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

4.4.25

31.7.24

£

£

Other loans

-

37,500

Tax

-

11,232

Social security and other taxes

-

481

Other creditors

825,996

-

Directors' current accounts

353

45,353

Accruals and deferred income

4,140

7,640

830,489

102,206

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

4.4.25

31.7.24

£

£

Other loans - 2-5 years

-

150,000

Other loans more 5yrs instal

-

642,752

-

792,752

4.4.25

31.7.24

£

£

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5yrs instal

-

642,752

9.	SECURED DEBTS

The following secured debts are included within creditors:

4.4.25

31.7.24

£

£

Other loans

-

830,252

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

4.4.25

31.7.24

value:

£

£

100

Ordinary

1

100

100

11.	RELATED PARTY DISCLOSURES

Dividend Distribution

A balance of £10,810 was paid to Renouf Financial Planning Ltd subsequent to its acquisition of the share capital of Renouf Wealth Management Limited on 4 April 2025.