| PM Wealth LLP |
| Registered number: |
OC451204 |
| Balance Sheet |
| as at 31 March 2025 |
| Notes |
|
2025 |
|
| £ |
|
| Fixed assets |
| Intangible assets |
3 |
|
800,000 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,350) |
|
| Net current liabilities |
|
|
(1,350) |
|
|
|
|
|
|
| Total assets less current liabilities |
|
|
798,650 |
|
|
|
| Net assets attributable to members |
798,650 |
|
|
|
|
|
|
| Represented by: |
| Loans and other debts due to members |
5 |
|
798,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
798,650 |
|
|
|
|
|
|
| Total members' interests |
| Loans and other debts due to members |
5 |
|
798,650 |
|
|
|
|
798,650 |
|
|
|
|
|
|
| For the period ended 31 March 2025 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied to LLPs). |
| The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| These accounts were approved by the members on 8 December 2025 and signed on their behalf by: |
|
|
| P T Mickler |
| Designated member |
|
| PM Wealth LLP |
| Notes to the Accounts |
| for the period from 26 February 2024 to 31 March 2025 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Statement of Recommended Practice (SORP), Accounting by Limited Liability Partnerships. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Taxation |
|
Taxation is not provided for in the accounts as taxation is the personal liability of the members. Any amounts held by the LLP on behalf of members in respect of their tax liabilities are treated as debts due to members. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Goodwill |
over 5 years |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Members' capital |
|
Members' capital is classified as debt and not equity if there is a contractual obligation for the LLP to repay the capital to members, even if that obligation is conditional. |
|
|
| 2 |
Employees |
2025 |
|
| Number |
|
|
|
Average number of persons employed by the LLP |
2 |
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
Additions |
800,000 |
|
At 31 March 2025 |
800,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
800,000 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2025 |
|
| £ |
|
|
|
Other creditors |
1,350 |
|
|
|
|
|
|
|
|
|
| 5 |
Loans and other debts due to members |
|
|
|
|
|
Mr P T Mickler |
|
Mrs C Armitage |
Total |
|
| £ |
£ |
£ |
|
|
Revaluation of goodwill |
400,000 |
|
400,000 |
|
800,000 |
|
Share of profit |
|
|
118,570 |
|
42,000 |
|
160,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
518,570 |
|
442,000 |
|
960,570 |
|
|
Drawings |
(119,920) |
|
(42,000) |
|
(161,920) |
|
|
|
|
|
|
|
|
|
At 31 March 2025 |
398,650 |
|
400,000 |
|
798,650 |
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
PM Wealth LLP is a limited liability partnership incorporated in England. Its registered office is: |
|
The Mill |
|
Kingsteignton Road |
|
Newton Abbot |
|
Devon |
|
TQ12 2QA |