In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bray Wealth Management Limited for the year ended 31 March 2025 as set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Bray Wealth Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bray Wealth Management Limited and state those matters that we have agreed to state to the Board of Directors of Bray Wealth Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bray Wealth Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bray Wealth Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bray Wealth Management Limited. You consider that Bray Wealth Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bray Wealth Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Stewart & Co Accountants LLP
Chartered Accountants
Knoll House
Knoll Road
Camberley
Surrey
GU15 3SY
2 October 2025
|
|
Note
|
2025
£
|
2024
£
|
|
Fixed assets
|
|
|
|
|
Tangible assets
|
4
|
9,986
|
2,381
|
|
Current assets
|
|
|
|
|
Debtors
|
5
|
2,427
|
-
|
|
Cash at bank and in hand
|
|
563,138
|
569,819
|
|
|
|
565,565
|
569,819
|
|
Creditors: Amounts falling due within one year
|
6
|
(167,209)
|
(82,913)
|
|
Net current
assets
|
|
398,356
|
486,906
|
|
Net
assets
|
|
408,342
|
489,287
|
|
Capital and reserves
|
|
|
|
|
Called up share capital
|
|
100
|
100
|
|
Profit and loss account
|
|
408,242
|
489,187
|
|
Shareholders' funds
|
|
408,342
|
489,287
|
For the financial 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 accounts for the year in question in accordance with section 476; and
|
|
•
|
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the Board on 2 October 2025 and signed on its behalf by:
|
.........................................
Mr N W Swartout
Director
|
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is: The Courtyard, 63-65 High Street, Chobham, Surrey, GU24 8AF.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class
|
Depreciation method and rate
|
|
Leasehold improvements
|
Straight line over remainder of lease
|
|
Fixtures, fittings and equipment
|
25% on the reducing balance
|
Trade debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and bank deposits.
Trade creditors
Short term creditors are measured at the transaction price.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Employee benefits
Short-term employee benefits are recognised as an expense in the period which they are incurred.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 8).
|
|
Fixtures and fittings
£
|
Total
£
|
|
Cost or valuation
|
|
At 1 April 2024
|
26,925
|
26,925
|
|
Additions
|
10,256
|
10,256
|
|
At 31 March 2025
|
37,181
|
37,181
|
|
Depreciation
|
|
At 1 April 2024
|
24,544
|
24,544
|
|
Charge for the year
|
2,651
|
2,651
|
|
At 31 March 2025
|
27,195
|
27,195
|
|
Carrying amount
|
|
At 31 March 2025
|
9,986
|
9,986
|
|
At 31 March 2024
|
2,381
|
2,381
|
|
|
2025
£
|
2024
£
|
|
Prepayments
|
1,143
|
-
|
|
Accrued income
|
1,284
|
-
|
|
|
2,427
|
-
|
Creditors: amounts falling due within one year
|
|
2025
£
|
2024
£
|
|
Trade creditors
|
-
|
674
|
|
Taxation and social security
|
90,947
|
62,909
|
|
Accruals and deferred income
|
62,513
|
15,070
|
|
Other creditors
|
13,749
|
4,260
|
|
|
167,209
|
82,913
|
